CHAPTER 2 Summary of suggested changes 3 Acquisition date and disposal 3 Definition of land” 4 “residential Main home exception 4 Exceptions for relationship property and inherited property under the suggested changes 5 Deductibility of expenditure 5 Losses 5 Land-rich companies and trusts 5 CHAPTER 3 Date of acquisition and disposal 7 Date of acquisition 7 Date of disposal 8 Subdivision of an existing 8 of the right to sell 9 Transitional 9 Disposals under insolvency 10 CHAPTER 4 Definition of land” 11 “residential Suggested change 11 Definition of 12 “land” CHAPTER 5 Main home exception 13 Suggested change 13 CHAPTER 6 Exceptions for inherited property and relationship property 17 Property transferred on the death of a person 17 Property transferred under a relationship property agreement 21 CHAPTER 7 Deductions 25 The cost of the property can be deducted 25 Holding deductible to the extent sufficient nexus and not private in nature 25 CHAPTER 8 Treatment of losses 27 Ring-fencing losses 27 Losses from transfers to associated persons 28 CHAPTER 9 Land-rich companies and trusts 29 Design of anti-avoidance 29 APPENDIX Proposed wording for charging provision and main home exception 31
CHAPTER 2 Summary of suggested changes 3 Acquisition date and disposal 3 Definition of “residential land” 4 Main home exception 4 Exceptions for relationship property and inherited property under the suggested changes 5 Deductibility of expenditure 5 Losses 5 Land-rich companies and trusts 5 CHAPTER 3 Date of acquisition and disposal 7 Date of acquisition 7 Date of disposal 8 Subdivision of an existing 8 of the right to sell 9 Transitional 9 Disposals under insolvency 10 CHAPTER 4 Definition of “residential land” 11 Suggested change 11 Definition of “land” 12 CHAPTER 5 Main home exception 13 Suggested change 13 CHAPTER 6 Exceptions for inherited property and relationship property 17 Property transferred on the death of a person 17 Property transferred under a relationship property agreement 21 CHAPTER 7 Deductions 25 The cost of the property can be deducted 25 Holding deductible to the extent sufficient nexus and not private in nature 25 CHAPTER 8 Treatment of losses 27 Ring-fencing losses 27 Losses from transfers to associated persons 28 CHAPTER 9 Land-rich companies and trusts 29 Design of anti-avoidance 29 APPENDIX Proposed wording for charging provision and main home exception 31