17.     Forfeited deposits

 

(1)     Where-

 

(a)     a person has made a deposit for the purpose of acquiring an asset which is not intended for use wholly and exclusively for business purposes, and

 

(b)     that deposit has been forfeited, the capital loss determined in respect of that forfeiture must be disregarded when determining that person’s aggregate capital gain or aggregate capital loss.

 

(2)     Subparagraph (1) does not apply in respect of-

 

(a)     a coin made mainly from gold or platinum, of which the market value is mainly attributable to the material from which it is minted or cast;

 

(b)     immovable property, other than immovable property intended to be the primary residence of that person;

 

(c)     a financial instrument; or

 

(d)     any right or interest in any asset contemplated in items (a), (b) or (c).