Capital gain

Term Paper written by Onipede Ibidunni Seun on Capital Gains Tax in Nigeria Introduction Discussing capital gain tax without first presenting a general overview of the entire concept of taxation will be tantamount to putting a cart before a horse. It is therefore very important that justice be done by explaining taxation and various types of taxes. Taxation: A General overview Tax and taxation has been variously defined by different authors. Oyegbile (1996) defines tax as a sum of money paid by

1. Introduction to Capital Gains and Losses Nearly everything that you own, whether it is for investment purposes or personal use, is a capital asset. Capital assets are stocks or bonds held for investment purposes, land, machinery, etc. When an individual sells a capital asset, the difference between the asset’s purchase price and the amount that it is sold for, is either a capital gain, which is in the case if the selling price exceeds the purchase price, or a capital loss, where the purchase

What does capital gain tax mean and how it will impact the thriving Singapore companies in particular and the peoples in general? Singapore is deprived of capital gains tax till now which actually attracts the investors to setup their companies or to have their regional branches in this country. The profit gained out of selling any capital assets is called capital gains. In such cases, there is a substantial difference between the selling and purchasing price. The selling price comes to be more

BRIEFING NOTE FOR THE FINANCE MINISTER INCREASING THE CAPITAL GAINS TAX FROM 50% TO 100% Purpose: The purpose of this briefing note is to provide the finance minister, Bill Morneau, with insight on the merits of an increase, from 50% to 100%, in the tax on capital gains. Statement of the Issue: The federal government is currently running a large budget deficit. “By the end of the current fiscal year, the country will be almost $31 billion in the red…$1.3 billion beyond the $29.4 billion deficit

CASE STUDY -1 INTRODUCTION: For the application of Capital Gain Taxation (CGT) provisions under the Australian taxation system, the happening of a CGT event is must. The most common capital gain tax event is a sale of assets. These assets may be generally the either the real estate or the shares. However, there are other events also which are considered as CGT events. TO WHOM APPLICABLE: The provisions of the capital gains or losses are applicable on the following three kinds of legal personalities:

included and repealed on capital gain and taxes. From the past to current, the United States has shown the importance capital gains tax. This paper will give a brief history of how capital gains tax began in America, where the United State is now, pros and cons for arguments for and against capital gains tax and how America stacks up to other countries. Capital gain taxation in America has been around since the Civil war when a tax on income began and a rise in taxing capital gain started. After many

assessable under capital gain for Fred? Law Income Tax Assessment Act 1936 Discussion Under section 6, a resident of the country is taxable for his incomes from all sources from all over the world. Capital gain is made on the capital assets which are sold for value more than the cost base of it as per Section 104 (10). It means that for making capital gain a capital gain tax event has to happen. Few capital assets are not taxable even when it makes a capital gain on incurring a capital gain tax event.

and Capital Gains with respect to share dealings. The Assessment year of the present case is 2005-06. Facts: a. The assessee was a trader in shares. The assessee was trading in two segments in stock exchange, viz., cash segment and Future and Options (F&O) segment. Admittedly, the assessee had two different portfolios one as investment and another as stock-in-trade. While profits from trading in cash market upto September 30, 2004, was offered to tax under the head 'Business ', similar gains subsequent

INTRODUCTION: For the application of Capital Gain Taxation (CGT) provisions under the Australian taxation system, the happening of a CGT event is must. The most common capital gain tax event is a sale of assets. These assets may be generally the either the real estate or the shares. However, there are other events also which are considered as CGT events. TO WHOM APPLICABLE: The provisions of the capital gains or losses are applicable on the following three kinds of legal personalities: • Individuals

Capital gains taxes are due whenever you sell an asset for a profit. For 2015 and 2016, the capital gains tax rate is 15% for people who fall into the 25%, 33% and 35% income tax brackets. People in the 39.6% tax bracket pay 20%. Many people employ a strategy called tax loss harvesting at the end the year, to reduce the amount they owe from stock gains; but it can also be used for rental real estate property. That’s because the Internal Revenue Service lets you pair gains with losses to lower the