Page 52 - F1 Integrated Workbook STUDENT 2018
P. 52
Chapter 2
You will be familiar with the standard proforma from the previous chapter, a reminder
is as follows:
Proceeds X
Less: incidental costs to sell (X)
Less: incidental costs to buy (X)
Less: original cost of asset (X)
Less: enhancements (X)
––
X
Compensation for inflation (% X cost) (X)
––
Taxable gain X
––
The taxable gain will then be charged at the appropriate tax rate for that accounting
period.
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