Commentary

C2.221 Wasting assets

Capital gains tax
Capital gains tax | Commentary

C2.221 Wasting assets

Capital gains tax | Commentary

C2.221 Wasting assets

There are special rules1 which limit the deduction which may be made for expenditure on 'wasting assets' in computing the amount of a gain or loss. Leases are dealt with by a different set of rules2, and the disposal of a wasting chattel does not give rise to a chargeable gain3. The special rules are described in Division C2.9.

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