Page 64 - P6 Slide - Taxation - Lecture Day 1

Standard Proceeds formula (par 30(2))

1

P Proceeds to be used in standard TAB formula (par 30(1))

R Real/actual proceeds from disposal (less certain selling exp)

B Par 20 qualifying exp before 1 Oct 2001

A Par 20 qualifying exp on/after 1 Oct 2001

2

Y Amount to calculate

B Qualifying expenditure before 1 Oct 2001 (par 20)

P Proceeds (less selling expenses) (par 35)

N Number of years from date of acquisition of asset until day before 1 Oct 2001
(limited to 20 if par 20 expenditure was incurred in > 1 yoa.)

T Number of years from 1 Oct 2001 until date of disposal