Question
Showing workings, calculate Claudes net capital gain or loss (assuming he has no other CGT events)(4 marks). Claude purchased a home in Kew on 1
Showing workings, calculate Claudes net capital gain or loss (assuming he has no other CGT events)(4 marks).
Claude purchased a home in Kew on 1 September 1999 for $300 000 incurring legal costs of $10 000 at that time. Settlement was on 1 October 1999. In March 2012 Claude spent $12 000 on legal fees defending the boundary to his property in a dispute against his neighbour. In December 2017 Claude was tired of fighting with his neighbour and he decided to sell the property. He sold the property for $600 000 and the purchaser also gave him a small boat valued at $40 000.
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