Page 76 - P6 Slide - Taxation - Lecture Day 1
P. 76
4 Proceeds
Specific inclusions (par 35 (1))
• If debt was reduced – reduction amount
• Amount received by lessee for improvements
Proceeds reduced with (par 35(3):
• Amounts incl. in taxable income (e.g. recoupments)
• Proceeds repaid/reduced
Use face values, not present values (par 35 (4))
