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  1. Introduction to Capital Gains Tax - The 4 building blocks.

    There are four requirements to calculate a capital gain or loss. These four requirements are considered the building blocks of Capital Gains Tax (CGT). There must be an asset, and said asset is disposed of. This puts into motion the requirement to calculate the Capital gain or loss for which the base costs must be determined, as must the proceeds. There is not a separate tax for capital gains per se. A capital gain or loss is calculated according to Schedule Eight of The Income Tax Act, and the ...
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