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Jessica has accepted a new job in the UK. She will resign from her job at HealthyHeart Pty Ltd, effecve 1 July 2023, and move
Jessica has accepted a new job in the UK. She will resign from her job at HealthyHeart Pty Ltd, effecve 1 July 2023, and move permanently to the UK with her husband. She has already sold her family house. She is contemplang on selling the investment property in Adelaide, in the tax year 2024. The property was purchased on 9 March 2007, for $520,000. She has recently had the property valued, and the current market value is $840,000. She would like to know the tax consequences of - a) selling the property (assuming she can sell it for the current value) before she moves overseas; and b) connuing renng out this property while she moves overseas permanently with her husband. Give answer based on Australian tax law and when preparing your answer state what is the issue, relevant law and case law, application and conclusion
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