Task 3:

On 10 June 2019, Bindu sold 5,000 shares of Trim Ltd, a UK company at 30 per share. She purchased 8,000 shares on 1 January 2010 at 5 per share, another 2,000 shares on 20 May 2018

at 15 per share, another 500 shares on 10 June 2019 at 20 per share, and another 100 shares on 30 June 2019 at 25 per share. You are required to:

1. a) Explain the matching rule for the sale of shares under Capital Gain Tax

2. b) calculate the capital gain tax for the above sale if he has not sold any other assets

   during the year, but he had an unused capital loss of 10,000 from the previous year. His taxable income during 2019/20 is 12,000. (1 + 2 = 3 marks)