Izzy Long runs a small accounting practice. During the income year ended June Izzys clients had the following capital gains tax CGT events:

Mack gave his fiance Charlotte, $ worth of shares in Stone Pty Ltd as a gift in May He acquired these shares for $ in April

Charlotte sold her shares see point above in June for $ shortly after breaking up with Mack.

Tom spent his entire life in Australia until he ceased to be an Australian resident and became a resident of the United Kingdom in June When he left Australia, Toms only asset was a property in New Zealand. The

property cost $ in March  and was worth $ in June  Tom sold the property for $ in August  He did not make any elections. 

 

Required: Calculate and explain the capital gain consequences associated with each CGT event for the income year ended June You may use section references and CGT events to support your answer, but they will not be marked.