Cost of acquisition adjustment: depreciable assets' acquisition cost tied to written down value, altering capital gains computation. Clause 75 treats the written down value of a depreciable asset, where depreciation has been claimed, as the cost of acquisition for capital gains purposes ... Summary
Cost of acquisition adjustment: depreciable assets' acquisition cost tied to written down value, altering capital gains computation.
Clause 75 treats the written down value of a depreciable asset, where depreciation has been claimed, as the cost of acquisition for capital gains purposes and directs that set-off and carry forward provisions apply subject to this modification, thereby aligning gain or loss on disposal with the asset's depreciated value.
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TaxTMI 
TaxTMI 
