Can some one give me the defenitions for a Chargable Person and a Chargable Occasion when talking about capital gains.
Thanks
Edit:
I believe I've found the defenition of a chargable person:
A Chargable person is a leagle enterty, i.e. a person, a company, or a partner in a partnership, that is disposing of a asset.
-- Edited by Tedius on Friday 2nd of December 2011 09:42:46 AM
__________________
You've got a lot of choices in your life. If getting out of bed in the morning is a chore and you're not smiling on a regular basis, try another choice.
I would have thought that a chargeable occasion was a disposal that triggered a gain, such as the sale or transfer of an asset such as property or shares.
Shares are purchased or sold on a particular day but payed for on a different day known as a settlement day. Because payment is not made until settlement day, some consider this to be the chargeable occasion, but it is not. The date when the contract was made is the chargeable occassion.
