Answered step by step
Verified Expert Solution
Question
1 Approved Answer
CASE:Capital Gains tax Shirley is a single Australian resident for tax purposes. She has sold the following assets on 30 June 2021. Principal residence at
CASE:Capital Gains tax Shirley is a single Australian resident for tax purposes. She has sold the following assets on 30 June 2021. Principal residence at Sydney Surry hills Purchased in November 1989 for $190,000 and sold it for $810,000 (Construction cost hasnt been claimed in her individual tax return). Stamp duty on purchases $1,900 Marketing (advertising) on sale $3,400 Agent commission on sale $23,000 Rental property at Sydney Collaroy Plateau Purchased on 1 July 2018 for $850,000 and sold it for $1,2000,000 (The property was built during 2000 with construction cost of $540,000. Capital works deductions have been claimed in her individual tax return each year up to disposal of the asset) Stamp duty on purchases $2,100 Built an additional
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started