Revenue Note for Guidance

CHAPTER 3

Capital gains tax

Overview

This Chapter contains provisions dealing with the recovery of capital gains tax from shareholders (section 977) and from recipients of gifts (section 978). It also includes a withholding tax on the disposal of certain assets (section 980) and makes special arrangements for the payment of capital gains tax where an asset is acquired by instalments (section 981).

Reference should also be made to those provisions of Chapter 5 of this Part, which can apply to the collection of capital gains tax (in particular, the power of attachment in section 1002).