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Su May recently sold a house in Bendigo for $1 million. The house has always been rented out to doctors working at Bendigo hospital. Su
Su May recently sold a house in Bendigo for $1 million. The house has always been rented out to doctors working at Bendigo hospital. Su May bought the house 5 years ago for $750,000 plus $50,000 in stamp duty and professional adviser fees (broker, agent, and lawyer). She has paid $100,000 in interest charges on the loan from the bank used to purchase house. Su May spent $200,000 renovating the house by adding rooms. The renovations increased the value of the house. Sue May also incurred legal fees of $30,000 to establish the boundary of her property as there was a dispute with a neighbour. What is Su May's net capital gain or loss in relation above inform ion? Nil. Net capital loss of $30,000. Net capital loss of $130,000. None of the options Net capital gain of $200,000
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