Page 25 - P6 Slide - Taxation - Lecture Day 1
P. 25
Time of disposal (par 13) (cont.)
When none of these events apply, the date
of disposal will be the date on which
ownership of the asset changes
Type of disposal Time of disposal
Scrapping, loss/destruction of asset When full compensation is received
If no compensation payable
• Date scrapping, loss etc. is discovered, or
• Date established no compensation will be paid
Extinction of asset (incl. termination, Date of extinction
cancellation, expiry, abandonment)
Distribution of asset by Co to S/H Date asset is distributed
Deemed disposals (par 12) Day preceding the day the event occurs
