n Tax Breaks Newsletter - CGT loss on shares using market-value cost? : capital gains tax




Extracted from text ... CAPITAL GAINS TAX 6 April 2006 Moneyweb's TAX BREAKS CGT loss on shares using market-value cost? By KATHY THERSBY IT IS NOW common knowledge that where a taxpayer uses the 1 October 2001 market value of an asset as the base cost for capital gains tax purposes, that taxpayer is generally precluded from realising a CGT loss if the proceeds from the disposal are less than the 1 October 2001 market value. So write Muhammad Saloojee and Anelia van Heerden in KPMG's Tax Mail. They explain that this principle arises by virtue of certain provisions contained in the Eighth ..


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