Page 90 - P6 Slide - Taxation - Lecture Day 1

Roll-overs

Involuntary disposal of Assets (par 65)

Involuntary disposal (destroyed, lost, stolen etc.)

AND

Proceeds are ≥ base cost

AND

Amount received will be used to acquire replacement asset(s)

AND

Within 12 months after involuntary disposal

AND

Replacement asset will be brought into use within 3 years of the

involuntary disposal