TX D Capital gains

Under ACCA's table, what is the tax rate on a gain from selling securities acquired before 1 July 2013?

• 1 0%
• 2 15%
• 3 29%
• 4 12.5%

Shares acquired after 1 July 2024 by a person on the ATL are sold for Rs. 1,500,000. The cost was Rs. 1,000,000 and disposal costs were Rs. 20,000. What is the tax at 15 percent?

• 1 Rs. 225,000
• 2 Rs. 150,000
• 3 Rs. 72,000
• 4 Rs. 75,000

A person not on the ATL (an individual) disposes of securities acquired after 1 July 2024. What rule does ACCA's table give?

• 1 Nil
• 2 A flat 5 percent
• 3 The rate is always 29 percent
• 4 The slab rates apply, subject to a minimum rate of 15 percent

For immovable property acquired on or before 30 June 2024, how does the rate change as the holding period gets longer?

• 1 It is always 15 percent
• 2 It stays the same
• 3 It falls
• 4 It rises

A person has a capital loss and also salary income in the same year. What is the general rule?

• 1 The capital loss can be set only against capital gains
• 2 It can be set against all income
• 3 It is refunded in cash
• 4 It can be set against salary

A company sells securities that it acquired after 1 July 2024, and it is not on the ATL. What is the rate for a small company in ACCA's table?

• 1 Nil
• 2 20%
• 3 29%
• 4 15%