Capital Asset

Context:
- It can result in a Capital Gain.
- It can be increased in value through a Capital Expense.
- …
Example(s):
- Corporate Stock.
- Bond (Finance).
- Real Estate, land, infrastructure, improvements to land, buildings, leasehold improvements
- vehicles
- furnishings
Counter-Example(s):
- Petty Cash.
See: Jewellery, Goodwill, Patents, Trademarks, Shares, Debentures, Securities, Mutual Funds, Zero-Coupon Bond.

References

http://www.ofm.wa.gov/policy/glossary.asp
- QUOTE: Tangible or intangible assets held and used in state operations, which have a service life of more than one year and meet the state’s capitalization policy. Capital assets of the state include land, infrastructure, improvements to land, buildings, leasehold improvements, vehicles, furnishings, equipment, collections, and all other tangible and intangible assets that are used in state operations

(Wikipedia, 2014) ⇒ http://en.wikipedia.org/wiki/capital_asset Retrieved:2014-6-29.
- A capital asset is defined to include property of any kind held by an assessee, whether connected with his business or profession or not connected with his business or profession. It includes all kinds of property, movable or immovable, tangible or intangible, fixed or circulating. Thus, Land and building, plant and machinery, motorcar, furniture, jewellery, route permits, goodwill, tenancy rights, patents, trademarks, shares, debentures, securities, units, mutual funds, zero-coupon bonds etc. are capital assets.

(Auten & Cordes, 1991) ⇒ Gerald E. Auten, and Joseph J. Cordes. (1991). “Policy Watch: Cutting Capital Gains Taxes.” The Journal of Economic Perspectives 5, no. 1
- QUOTE: … Capital gains are the profit or loss from selling a capital asset such as corporate stock, real estate, residence, land or a business.' Under an income tax based on a comprehensive definition of economic income, real capital gains would be taxed each year as they accrue, and …