Page 4 - PowerPoint Presentation

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))