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Pre-owned assets

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03 March 2009
Issue: 4197 / Categories: News , Income Tax
Prescribed rate down to 4.75%

The prescribed rate for income tax on pre-owned assets decreased from 6.25% to 4.75% on 1 March 2009.

This is the official rate of interest used to calculate the chargeable amount for income tax, at the valuation date, where the benefit arises from either chattels or intangible property.

Issue: 4197 / Categories: News , Income Tax
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