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+--- Thread: Capital Gain tax (/showthread.php?tid=7322)
Capital Gain tax - EhtishamIqbal - 02-03-2010
Q1 A person buys and sells a number of vehicles in a tax year and makes a significant amount of profit in the process. Will such profit be taxable as capital gain?
Q2 A person somehow gets hold of an extraordinary rare bird, keeps it as a pet for two years and then sells it off. Will related profit be taxable as capital gain?
- Dard - 02-04-2010
Q1 Yes, it will be taxed because of more frequent transcations of the same nature
Q2 If the bird was bought for sale purposes then tax will be paid, otherwise not
This is my understanding