Question
On 26 August 1985, Rechelle 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, Rechelle 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 $38288.
She sold both properties to a property developer on 1 April 2022 for $1,200,000 each.
Required:
Calculate the Net Capital Gain, if any, to be included in her 2022 assessable income.
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Financial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
10th Edition
0324380674, 978-0324380675
