where— A is the first tax,. B is the new gain , and. C is a gain determined in accordance with section 739D if the unit to which the first tax applied was cancelled at that time. 1 ) shall not apply unless the unit holder has made the declaration …
From the 6th of April 1994, the exemption of tax on gains arising on a disposal of units in unit trusts which invest only in exempt assets was abolished. This mainly impacted on unauthorised unit trusts. The exemption is preserved in respect of the part of the gain accruing up to the 5th of April 1994.
3/27/2019 · Section 739 Taxation of unit holders in undertakings for collective investment Source Taxes Consolidation Act 1997 section 739. ( 1 ) Subject to this section, as respects a payment made on or after the 6th day of April, 1994, in money or money’s worth to.
Question 5( bii ) The examinees were of the opinion that the gain on disposal of machine would either be considered under business income or under income from other sources. Some examinees also wrongly calculated initial allowance and normal depreciation allowance for computing gain on disposal …
