Page 13 - F6 - Capital Gains Tax - Assets & Disposals

Basic

Proceeds =

Amount received or accrued as a result of disposal of an asset

Less: any part of this amount that was included in the person’s

taxable income

Recoupments

Base cost=

Expenditure incurred to acquire the asset…

Less: any part of this expenditure that was allowed as a

deduction when determining taxable income

Allowances