Capital gains which are exempt from tax in a broad-exemption listed country



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Capital gains are defined in the regulations as gains or profits of a capital nature that arise from the sale or disposal of an asset.

A capital gain will not be treated as non-assessable non-exempt for this purpose if the gain would have been taxed in a listed country if not for rollover provisions of a kind specified in the regulations.

Last modified: 05 Dec 2006QC 17522