Sentences with phrase «deemed cost of an asset»

The deemed cost of an asset representing the sum of the amount originally paid plus any additional costs, such as brokerage fees and commissions.

Not exact matches

Choosing to apply CGT relief might sometimes result in a capital loss arising on the deemed sale of a CGT asset, as the asset's market value at that time may be less than its reduced cost base.

The mechanism used to reset the cost base of a CGT asset to its market value is to deem a sale, followed by an immediate repurchase of the asset.

However, if the actual cost is less than the fair market value of such asset as on 31st of January, 2018, the fair market value will be deemed to be the cost of acquisition.

Many Canadians who owned taxable capital assets like cottages at that time filed an election to claim a deemed capital gain based on the then fair market value of their cottage, which would generally become your new adjusted cost base for capital gains tax purposes.

Many Canadians took a deemed capital gain on their 1994 income tax return that pushed up the tax cost of certain capital assets for tax purposes — including their cottages — based on the market value at that time.

Gear used for the business of travel blogging would either be deductible as an expense (meaning that the entire cost would be taken in the year the item was purchased) or depreciated (meaning that the cost would be spread across a few years depending on what the IRS deems is the «useful life» of that asset).