Page 26 - PowerPoint Presentation

ALLOWANCES & CAPITAL GAINS

Personal use assets

• Personal use assets are defined in paragraph 53 of

the Eighth Schedule. If an asset is mainly used for a

purpose other than carrying on a trade (usually

personal purposes) by a natural person or a

beneficiary of a special trust, it will qualify as a

personal use asset.

• Capital gains or capital losses derived from the

disposal of personal use assets must be disregarded.

• The capital losses generated from the disposal of

these listed personal use assets will be disallowed.

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