Page 15 - F6 Slides (CGT,TT,ET AND PT)

Other exclusions

• Personal-use assets exclusion

• Items excluded from personal use are :
 An aircraft with an empty mass exceeding 450 kg. l

 A boat exceedin g ten metres in len g th (a ‘boat’ bein g defined as any vessel used or capable of being used
in, under or on the sea or internal waters, whether self-propelled or not and whether equipped with an
inboard or outboard motor) (par 1). l

 Any fiduciary, usufructuary or other like interest, the value of which decreases over time. l
 A ri g ht or interest of whatever nature to or in any of the above assets.

 A coin made mainly of gold or platinum, the market value of which is mainly attributable to the material from
which it is minted or cast. l

 Immovable property. l A financial instrument l
 Any contract, includin g a reinsurance policy in respect of such a contract, under which a person, in return for
payment of a premium, is entitled to policy benefits upon the happening of a certain event, but excluding any
short-term policy (see below). l
 Any short-term policy but only to the extent that it relates to any asset that is not a personal-use asset. L
Red : Any capital gain or loss is not disregarded, but is taken into account when calculating the aggregate gain or
loss. g ht or interest of whatever nature to or in any of the above assets.