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 ?

The data source for capital taxes in the services sectors is Dee and Hanslow (2000).

Foreign direct investment liberalization between Canada and the USA: a CGE investigation

Once date 0 has passed, a planner at date t > 0 who re-optimizes would want to start with choices for consumption, labor effort, and capital taxes that differ from what was chosen for that date at time 0.

Stark optimal fiscal policies and sovereign lending

But in 1986, after four years in office the Fine Gael-Labour Coalition were able to raise a mere pounds 36m in capital taxes and pounds 258m in corporation tax

BERTIE PLANS FOR ANOTHER 5 YEARS; Calls for a nation of risk-takers to meet challenges

It allows banks to incorporate into their capital taxes they paid in the past for loan-loss reserves.

New tax accounting helps bank boost capital sharply

Thus, the government will also use environmental policy, which can affect the returns to capital, to minimize the distorting effects of the capital taxes.

International capital competition and environmental standards

The branch is subject to a branch tax in addition to the federal income and capital taxes.

Tax implications of doing business in Canada

Forward-looking statements in this press release may include, but are not limited to, production volumes, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, distributions, access to credit facilities, capital taxes, Funds Flow From Operations and regulatory changes.

Harvest Energy Trust and Viking Energy Royalty Trust Announce Successful Completion of Plan of Arrangement

Ottawa has also encouraged provincial reductions in corporate income tax rates to 10 percent, and provided incentives for provinces to eliminate their capital taxes.

The path to prosperity: internationally competitive rates and a level playing field

The new tax rate and the threat of higher capital taxes will trigger a round of owner manager sales and will be one of the key drivers of deals in 2010.

50pc rate could see buy-outs

If you are non-domiciled for UK tax purposes there are significant capital taxes planning opportunities available.

Are your affairs in order? Alan Dawson and Julie Garbutt discuss how to handle your personal affairs in turbulent economic conditions

TEI has consistently urged the provincial and federal governments to eliminate capital taxes because they undermine innovation and discourage investments that are critical to fostering long-term prosperity, job growth, and international competitiveness.

TEI urges Ontario to accelerate repeal of capital tax: TEI's March 8, 2007, letter to Ontario Minister of Finance Greg Sorbara was prepared under the aegis of TEI's Canadian Income Tax Committee, David M. Penney of General Motors of Canada Limited, Chair. Contributing substantially to the development of TEI's comments was Winston C.K. Woo of AGS Automotive Systems

Stamp duty was up EUR687million, Corporation Tax up EUR321million, Capital Taxes up EUR317million and VAT rose by EUR296million.