1. Regarding capital gains tax, which of the following statements is correct? A. The sale of a motor vehicle may result in a capital gain or a capital loss B. When the disposal of property is by gift, the capital proceeds are taken to be nil C. Net capital losses are not deductible against any assessable income other than a capital gain D. When an asset is sold with capital proceeds received in instalments, the capital gain will be apportioned among the years when the capital proceeds will be received

Taxation law