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Linda is an Australian resident. During the income year. She disposes of the following assets 1. A long-term investment property for $1,000,000, which she acquired
Linda is an Australian resident. During the income year. She disposes of the following assets 1. A long-term investment property for $1,000,000, which she acquired for $300,000 in December 1986. 2. Her motorcycle for $5,000 and 3. Her home-theatre system for $6,000 which she originally acquired for $10,000 Linda has no capital losses from previous years what is Lindas net capital gain for this income tax year? $500,000 $700,000 $350,000 $490,900
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