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On 26 August 1985, Mary purchased a property as her home for $35,000. One year later, 26 August 1986, she purchased another property on the
On 26 August 1985, Mary purchased a property as her home for $35,000.
One year later, 26 August 1986, she purchased another property on the same street as a rental property for $46606.
Mary sold both properties to a property developer on 31 December 2019 for $1,200,000 each.
Required:
Calculate the Net Capital Gain, if any, to be included in Mary's 2020 assessable income.
One year later, 26 August 1986, she purchased another property on the same street as a rental property for $46606.
Mary sold both properties to a property developer on 31 December 2019 for $1,200,000 each.
Required:
Calculate the Net Capital Gain, if any, to be included in Mary's 2020 assessable income.
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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
