capital gains tax

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capital gains tax

a tax charged on gains of a capital nature. More specifically, the charge to capital gains tax is on chargeable gains; these are gains accruing from the chargeable disposal of chargeable assets by chargeable persons. It follows from this that some disposals are chargeable disposals while others (such as a disposal on death by a testator to his executors) are not; likewise, some assets are chargeable and others are not (e.g. cash), and some persons are chargeable persons and others not (e.g. charitable trustees). Chargeable gains made by companies otherwise than in a fiduciary capacity are charged to corporation tax rather than capital gains tax. The current law has been consolidated into the Taxation of Chargeable Gains Act 1992.

References in periodicals archive ?

To the extent that the Bush tax cuts are allowed to remain in effect and Obamacare is not repealed, capital gains taxes will escalate to 18.

More properties to come on the market

Democratic committee members seemed unconvinced that lowering capital gains taxes would necessarily turn the state into a wealth magnet.

Bills look to lower capital gains rate

Almost no countries apply capital gains taxes to owner-occupied housing, for a variety of economic and political reasons.

The long-term effects of capital gains taxes in New Zealand

In general, the preliminary evidence suggests that capital gains taxes affect equity prices and may contribute to short-term departures from fundamental prices.

Capital gains taxes and equity prices

In summary, LMM's paper deals with an important topic and contributes to our understanding of how investor-level capital gains taxes impact share prices.

Discussion of the effect of the expected holding period on the market reaction to a decline in the capital gains tax rate

The conservation easement decreased his capital gains taxes brought by the Des Moines sale by $25,000 in the first year alone.

Green acres: land trusts help protect the environment and save money, too. (Money Matters)

The taxpayers in all of these cases requested a reduction in stock value equal to the full amount of the capital gains taxes that would have been due upon liquidation of the respective corporations.

The valuation discount for potential capital gains tax

The Bush tax cuts set to expire on December 31, 2010, directly affecting how capital gains taxes will be taxed going forward.

Capital gains tax increase impacts commercial real estate

Because of the jump in real estate prices, I've realized a nice return on my investment and I'm worried about paying huge capital gains taxes.

Capital gains pains

For gift tax purposes, the taxpayer reduced the stock's value by 25% for a minority discount and by the capital gains taxes attributable to the built-in gain on the building.

Significant recent developments in estate planning

For many years, the IRS has steadfastly held to the position that capital gains taxes on corporate level built-in gains cannot be taken into account for purposes of determining the transfer tax value of common stock in a closely held company.