Question 4

Over the last 6 months, Rohan acquired the following assets:

• an engagement ring which cost $5,000
• a ceramic antique vase (for $3,000),
• a painting (for $8,500),
• a Television (for $15,000),
• Australia Banks shares (for $5,000).

Last week he sold these assets as follows:

• an engagement ring which cost $6,000
• a ceramic antique vase (for $1,000),
• a painting (for $2,500),
• a Television (for $11,000) and
• Australia Banks shares (for $25,000)

Calculate his net capital gain or net capital loss for the year.