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a) Capital gains tax implications came into force on 19 September 1985, before this date a sale of a capital asset was not part of
a) Capital gains tax implications came into force on 19 September 1985, before this date a sale of a capital asset was not part of the tax system. Why do you think the federal government enacted the changes to the Income Tax Assessment Act to include capital gains tax?
b) Why do you think that a capital loss from a personal use asset is always disregarded?
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