Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sonny and Terry Magee married on the 18th of September 1985. On 25th of July 1993 Sonny purchased 15,000 NAB shares. On the 23rd of

Sonny and Terry Magee married on the 18th of September 1985. On 25th of July 1993 Sonny purchased 15,000 NAB shares. On the 23rd of September of the current year, Sonny and Terry were divorced and, under a court order, Sonny disposed of his 15,000 NAB shares to Terry. As a result:

(a) Sonny is liable for any capital gains tax at the time of the disposal to

Terry.

(b) Sonny is liable for any capital gains tax at the time of any subsequent

disposal by Terry.

(c) Terry is liable for any capital gains tax at the time of the disposal by

Sonny.

(d) Terry is liable for any capital gains tax at the time she disposes of the

shares.

THERE IS A CONFUSION IN THE ANWERS , IT IS ANSWERED WITH DIFFERENT OPTIONS BY ANOTHER TUTOT. PLEASE CLARIFY WHAT IS THE CORRECT ANSWERS ?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Smith And Roberson Business Law

Authors: Richard A. Mann, Barry S. Roberts

18th Edition

0357364007, 978-0357364000

More Books

Students also viewed these Law questions

Question

3. It is the commitment you show that is the deciding factor.

Answered: 1 week ago