Incidental Costs – NBC Institute

AT – May 2018 – L3 – SB – Q3a – Capital Gains Tax

Explain disposal under Capital Gains Tax Act, define incidental costs, and describe delayed remittance relief conditions.

Question

Capital gains may be defined as gains arising from increases in the market value of capital assets, to a corporate body or person who does not habitually offer them for sale, and in whose hands they do not constitute inventory-in-trade.

With respect to the Capital Gains Tax Act, you are required to explain:

(i) When a “disposal” is said to have taken place. (2 Marks)

(ii) What constitutes “incidental costs”? (2 Marks)

(iii) Under what circumstances can a “delayed remittance” relief be granted? (2 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Asset Disposal, Capital gains tax, Delayed Remittance Relief, Disposal, Incidental Costs, Tax Relief
Level: Level 3

Topic: Capital Gains Tax (CGT)
Series: MAY 2018

Question Tag: Incidental Costs

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

AT – May 2018 – L3 – SB – Q3a – Capital Gains Tax

Explain disposal under Capital Gains Tax Act, define incidental costs, and describe delayed remittance relief conditions.

AT – May 2018 – L3 – SB – Q3a – Capital Gains Tax

Explain disposal under Capital Gains Tax Act, define incidental costs, and describe delayed remittance relief conditions.

Our offerings

Contact Info

Customer

Get In Touch

Question Tag: Incidental Costs

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

AT – May 2018 – L3 – SB – Q3a – Capital Gains Tax

Explain disposal under Capital Gains Tax Act, define incidental costs, and describe delayed remittance relief conditions.

You're reporting an error for "AT – May 2018 – L3 – SB – Q3a – Capital Gains Tax"

AT – May 2018 – L3 – SB – Q3a – Capital Gains Tax

Explain disposal under Capital Gains Tax Act, define incidental costs, and describe delayed remittance relief conditions.

You're reporting an error for "AT – May 2018 – L3 – SB – Q3a – Capital Gains Tax"

Our offerings

Contact Info

Customer

Get In Touch

admin