Commentary

94 Capital gains on mineral dispositions generally

MINES, MINERALS AND LANDFILL vol 26(3)
| Commentary

94 Capital gains on mineral dispositions generally

| Commentary

94 Capital gains on mineral dispositions generally

Capital gains arising on dispositions of minerals are chargeable to tax in the same way as other gains from dispositions of land. All forms of property are assets for the purposes of capital gains tax legislation1, and if the seller is an individual, disposal of an asset normally gives rise to a liability to capital gains tax on any chargeable gain accruing to the seller. If the seller is a company, any gain is computed on capital gains principles but is chargeable to corporation tax2.

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