Recently, I told you when a transaction has a capital gains tax (CGT) implication and how to calculate it correctly.
Today, I'm going to show you how to account for the disposal of an asset correctly.
If you get this wrong, you'll have incorrect financial statements. And you won't calculate your income tax correctly either.
Read on to find out how to account for the disposal of an asset.... ››› more
Capital Gains Tax (CGT) has been around since October 2001.
But I keep finding many bookkeepers are still confused about what transactions attract CGT, and which ones don't.
It's important to exclude capital gains transactions from normal transactions to make sure you enjoy the lower tax on the capital profits.
Read on as I explain what CGT is and the correct method to calculate CGT.
... ››› more
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