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The question is CGT of taxation law. I've attached files. Example of a CGT Long Question Con Metropoulis received a promotion and transferred to Sydney.
The question is CGT of taxation law. I've attached files.
Example of a CGT Long Question Con Metropoulis received a promotion and transferred to Sydney. Before moving, Con sold the following assets: Item Purchase price Sale price $ $ Home 95,000 135,000 Vacant land 28,000 30,000 7,000 5,500 500 8,000 2,000 1,800 Caravan Old etching Antique sideboard All assets were purchased on 29 October 1985 and sold on 30 June in the current income year. What amounts would be included in Con's assessable income for the year of sale? Set out your full answer in a table. Example of a table for working out CGT Description Amount Asset One - \"Flat in Sydney\" - A1 event Proceeds (Cost Base) Element 1 Element 2 Element 2 Element 3 Element 3 Element 4 Element 5 Asset One Capital Gain Asset Two - \"House in Middleton\" - A1 event Proceeds (Cost Base) Add non-discounted gains: (A+B+C) Less Current Year Loss Less Previous Year Loss Total Add discounted gains: (A+B+C) Less 50% discount Net capital gain XXXX (XXX) (XXX) XXXXXX XXXX XXXXX XXXXXStep by Step Solution
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