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In 2002, she purchased 10,000 Big Pharma (BPH) shares for $3.00 each. She sold all the 10,000 BPH for $11.50 each on 1 April this
In 2002, she purchased 10,000 Big Pharma (BPH) shares for $3.00 each. She sold all the 10,000 BPH for $11.50 each on 1 April this year.
- In 2010 she purchased a Rolex Daytona diamond and ruby encrusted watch for $70,000. She sold the watch on 1 February this year for $15,000. She wore the watch on her wrist while she owned it.
- In 2002, she purchased her yacht - the Friday Freedom in Fiji for $20,000. She sold it, in Australia, on 1 March this year for $5,000.
- When she was born in on 1 October 1984 her parents purchased 100 CBA shares for her valued at $13.00 each. She sold all these CBA shares this year for $10,400.00
- On 27 January this year Julie purchased 1000 WBC Shares for $20.00. On 24 March this year Julie sold the WBC Shares for $24.00 per share.
Julie tells you she has never claimed any capital losses in the past. She wants to know the tax consequences of all these transactions. Advise Julie on the cost base, capital event and capital proceeds for each sale and calculate any carried forward capital losses showing references to appropriate legislation and all calculations.
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