Holon carries on a small business as a sole trader During the year she sells her business as a going concer: Event Cost Reduced Proceeds base $ cost base $$ 40,000 30.000 45,000 Sale of equipment (depreciating asset) Sale of trading stock Signed a restrictive covenant with the purchaser 20,000 20,000 1,000 1,000 22.000 10,000 Ignoring any general discount or small business CGT concessions, what is her net capital gain? $11,000 O $16.000 $9,000 $14,000 On 1 July 1984, Bill Thompson acquired a residential property at 51 Kingsway, Glen Waverley for St0S 000 In January 1985, the council rezoned the area for commercial development. In June 1985. Bil had the house demolished at a cost of $5000, preparatory to the construction of a shop On 5 October 1985, Bill entered into a contract to construct the shop on the now vacant site at a cost of $300 000. Construction commenced on 2 January 1986, and the shop was completed on 30 March 1986 at a cost of $300 000 On 17 September 2017. Bill signed a contract to sell the shop for $1 200 000. (The building was vniondat $650 000 and the land at $550 000.) Settlement took place on 17 January 2018. Assuming that Bill is not a builder/developer and that the Commissioner of Taxation does not treat the events as a profit-making undertaking or plan, in the 2017/18 tax year, Bill would be assessable for a capital gainot $ Nil $152 300 $175 000 $147,800