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On 1 November 1992 Mary had a nice home in Sydney and also acquired a second-hand yacht for $88492. Mary borrowed $82,000 of the money
On 1 November 1992 Mary had a nice home in Sydney and also acquired a second-hand yacht for $88492. 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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Accounting A Business Perspective
Authors: Roger H. Hermanson, James Don Edwards, Michael W. Maher
7th Edition
0075615851, 978-0075615859
