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When is the purchase date for tax purposes?
You cant claim a full year depreciation ! You would be eligible to one day's depreciation and capital allowance.- Paul@PFI
- Post #14
- Forum: Accounting and Tax
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When is the purchase date for tax purposes?
LOL - I have to charge extra for BS. plus GST. Its a common problem. I hate mention of CGT dates, cost base and several other issues in posts as it can be read far too literally. I take the view using SS that I must over exaggerate so the worst case tax cost is identified rather than the best...- Paul@PFI
- Post #11
- Forum: Accounting and Tax
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When is the purchase date for tax purposes?
Good pickup GaryT but I didnt say it that way for a reason. I avoid mention of the precise timing of acquisition as its never that simple even when its put that way. Its something you get with advice :-) This really highlights the simple ways DIY taxpayers make mistakes. s109-5 contains a...- Paul@PFI
- Post #8
- Forum: Accounting and Tax
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When is the purchase date for tax purposes?
Acquisition for CGT = Date of settlement Disposal date for CGT = Date of contract Disposal Date for Income Tax = date of sale settlement. Actual period of ownership (day) = Date of sales settlement less Acquisition date (Thats right....No of days will not be same for income tax and CGT !!)...- Paul@PFI
- Post #2
- Forum: Accounting and Tax
