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On 1 November 1992 Mary had a nice home in Sydney and also acquired a second-hand yacht for $88337. Mary borrowed $82,000 of the
On 1 November 1992 Mary had a nice home in Sydney and also acquired a second-hand yacht for $88337. Mary borrowed $82,000 of the money from XYZ Bank to buy the yacht.. The loan was a fixed interest loan on which Mary paid interest of $45,000. Mary sold the yacht in September 2020 for $161,000. Required: Calculate the indexed cost base for Capital Gains Tax purposes
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Purchase price of the yacht 88337 Loan amount from XYZ Bank 82000 Interest paid on the loan 45000 Se...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
