Page 12 - P6 Slide Taxation - Lecture Day 6 - Groups, Interest And Practice Questions
P. 12
Implications: Normal tax relief
provided
In the hands of the resident company
• When determining the resident company’s
taxable income or capital gains/losses, the
person and the resident company will be
deemed to be one and the same person.
• The objective is that the resident company will
step into the shoes of the person in relation to
the original date of, and cost of acquisition of
the asset.
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