[123456sam]

Hello Tutor,

I have a question regarding example 1 of capital gains tax – individuals (chapter 12).

In the lecture note, Certain Chattels (tangible moveable property such as antiques) are exempt. however, when solving the example where Tina sold an antique vase, the lose made was allowed for deduction.

Please is it only gains from antiques that are exempt while losses are allowed. or rather, must it be clearly stated in the question that the antique is a moveable one before we treat it as exempt (for both gains and losses) arising from the disposal of such asset.

Thanks a lot.

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