Cost of acquisition rule: written down value becomes acquisition cost where depreciation was claimed, changing capital gains basis. Where depreciation has been obtained for a capital asset, the capital gains cost provisions apply subject to modification that the asset's written down ... Summary
Cost of acquisition rule: written down value becomes acquisition cost where depreciation was claimed, changing capital gains basis.
Where depreciation has been obtained for a capital asset, the capital gains cost provisions apply subject to modification that the asset's written down value, as defined and adjusted, shall be taken as the cost of acquisition of the asset.
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