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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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