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Income Tax - Highlights / Catch Notes

Home Highlights September 2015 Year 2015 This

Determination of capital gain - allocation of sale consideration ...

Income Tax

September 7, 2015

Determination of capital gain - allocation of sale consideration between the land and building - The historical cost of building or WDV of building cannot be determinative of market value of building on the date of sale. Similarly end use of building by the buyer is also not relevant for determining market value of building on the date of sale - AT

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