Amanda is an Australian individual taxpayer. During the 2021-22 income year, she sold the following assets as
Question:
Amanda is an Australian individual taxpayer. During the 2021-22 income year, she sold the following assets as set out in the below table. Polly has always held shares as a passive investor (i.e., she is not a share trader).
Asset | Date of purchase | Cost | Date of Sale | Sale Proceeds |
Shares in Strawberry Ltd | 1 September 2012 | $4,000 | 30 April 2022 | $11,000 |
Shares in Mandarin Ltd | 1 June 2016 | $8,000 | 30 March 2022 | $3,000 |
Shares in Melon Ltd | 1 July 2021 | $5,000 | 30 October 2021 | $8,000 |
Assume there are no other costs associated with the purchases or sales of the shares. These are the only transactions that impact on the 2021-22 income year.
What will be Amanda's net capital gain, assuming she wishes to minimize her assessable income for the 2021-22 income year?
Fundamentals of Investing
ISBN: 978-0133075359
12th edition
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk