Tax Written Down Value – NBC Institute

TAX – Nov 2020 – L1 – SA – Q19 – Capital Gains Tax (CGT)

Calculate the balancing charge on the disposal of an asset.

Question

An asset with a tax written down value of N850,000 was sold for N1,230,000; what is the balancing charge?
A. N2,080,000
B. N1,230,000
C. N850,000
D. N380,000
E. N425,000

Answer

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Tags: Balancing Charge, Capital gains tax, Disposal of assets, Tax Written Down Value
Level: Level 1

Topic: Capital Gains Tax (CGT)
Series: NOV 2020

Question Tag: Tax Written Down Value

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TAX – Nov 2020 – L1 – SA – Q19 – Capital Gains Tax (CGT)

Calculate the balancing charge on the disposal of an asset.

TAX – Nov 2020 – L1 – SA – Q19 – Capital Gains Tax (CGT)

Calculate the balancing charge on the disposal of an asset.

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Question Tag: Tax Written Down Value

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TAX – Nov 2020 – L1 – SA – Q19 – Capital Gains Tax (CGT)

Calculate the balancing charge on the disposal of an asset.

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TAX – Nov 2020 – L1 – SA – Q19 – Capital Gains Tax (CGT)

Calculate the balancing charge on the disposal of an asset.

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