Demonstrate intention of land acquisition was for disposal

Assignment Help Taxation

Reference no: EM133261385

To be taxable under section CB 6:

1. The taxpayer must have only one clear purpose, which is to sell the land

2. The purpose or intention of disposal must exist at the time the land was acquired

3. Inland Revenue must demonstrate that the purpose or intention of the land acquisition was for disposal

4. The taxpayer must show they had no clear purpose for the land at the time of acquisition

Reference no: EM133261385

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