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Ned Una, a resident taxpayer, sold the following assets during the 2019/2020 Tax Year ASSET COST BASE $ ACQUISITION DATE DISPOSAL DATE SALE PRICE $
Ned Una, a resident taxpayer, sold the following assets during the 2019/2020 Tax Year
ASSET | COST BASE $ | ACQUISITION DATE | DISPOSAL DATE | SALE PRICE $ |
Investment Property | 120000 | 1/5/07 | 31/12/19 | 350000 |
Motor Vehicle | 25000 | 30/8/11 | 24/2/20 | 27000 |
Painting | 8000 | 10/3/14 | 19/7/19 | 12900 |
Antique Furniture | 18400 | 25/12/92 | 1/6/20 | 26300 |
Antique Vase | 400 | 17/3/96 | 3/9/19 | 1300 |
Stereo System | 16000 | 8/5/97 | 16/6/20 | 5100 |
Shares Broken Ridge Mining NL | 8000 | 16/4/05 | 25/5/20 | 2500 |
Shares Rock Solid Bank Ltd | 8000 | 16/04/17 | 25/5/20 | 11200 |
The parcels of shares each incurred $80 of selling expenses on disposal.
Ned has $3000 of capital losses from previous years, these relate to the sale of jewellery.
Determine the Net Capital Gain - Check both indexed and discount methods where available
Total Collectables =
Total Personal & Other use =
Total Other Methods & Indexed =
Net Gain before Discount =
Less Discount =
Net Capital Gain =
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