PART 2THE TREATMENT OF PARTICIPANTS IN NON-REPORTING FUNDS
CHAPTER 5OFFSHORE INCOME GAINS AND THE COMPUTATION OF OFFSHORE INCOME GAINS
General provisions38
1
An offshore income gain arises to a person on the disposal of an asset if a basic gain arises on the disposal.
2
The disposal gives rise to an offshore income gain of an amount equal to the basic gain on the disposal.
3
The following provisions of this Chapter explain how the basic gain is computed.