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What is a Capital Gain?

What is a Capital Gain?

Thursday, June 29, 2017, 5:32 PM

Any profit or gain that arises from the sale of a ‘capital asset’ is a capital gain. This gain or profit is charged to tax in the year in which the transfer of the capital asset takes place. Capital gains are not applicable when an asset is inherited because there is no sale, only a transfer.
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