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Tax Implications on Sale of Assets and Small Business Gains

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Added on 2022/11/02

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This article explains the tax implications on sale of assets and small business gains. It covers the exemptions available under the Income Tax Assessment Act, 1997 and the conditions to be met for claiming such exemptions. It also discusses the calculation of cost of CNC machine for the purpose of computing capital allowance and determination of start time to calculate the decline in the value of the asset.

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Tax Implications on Sale of Assets and Small Business Gains

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