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On 1 June 2020, Macho Sports entered into a contract for the sale of the clothing business (excluding the trade mark and business name Machos

On 1 June 2020, Macho Sports entered into a contract for the sale of the clothing business (excluding the trade mark and business name Machos Sports Clothing) for $500,000. Macho Sports incurred $11,000 in legal and accounting fees associated with the sale (including GST). Advise Macho Sports on any GST consequences of the sale. Make sure you include any applicable GST calculations.

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