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Calculate CGT with the following assumptions: a) Deductions Assumed Building Cost $150,000 Assumed Building Built 2005 ATO Schedule ATO Rate 2.5% Assumed P&E Depreciated Value
Calculate CGT with the following assumptions:
a) Deductions | Assumed | |||
Building Cost | $150,000 | Assumed | ||
Building Built | 2005 | ATO Schedule | ||
ATO Rate | 2.5% | Assumed | ||
P&E Depreciated Value | $20,000 | Ave assumed | ||
ATO Rate | Prime cost | 10% | ||
Net Selling price (including selling cost) | $1,050,000 | |||
b) Cost Base = PP | $ 575,000 | |||
+ Acq Costs | $23,000 | |||
+ Cap Ex | y1 | $10,000 | Assumed | |
- Bld allowance | -$18,750 | |||
COST BASE | $589,250 |
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