Governments may set a monetary criteria in the form of a "capitalization threshold" (use of a threshold is not included in GAAP). The election provides for no GST (or HST in the HST provinces) to be payable in respect of the purchase and sale of the assets and reduces the cash.The cost of an asset acquisition may exceed or be less than the fair value of the assets acquired and liabilities assumed. A somewhat basic level high level presentation on the nuts and bolts of asset purchase sale transactions. The DHS Acronyms, Abbreviations, and Terms (DAAT) list contains homeland security related acronyms, abbreviations, and terms that can be found in DHS documents. This Supplemental Contract for Workforce Management Systems and Related Products,. A taxable asset purchase allows the buyer to "step up," or increase, the tax basis of the acquired assets to reflect the purchase price. List of Minimum Filing Requirements. Assets acquired are recorded at cost on the acquisition date.