Vipun gave his motorbike, valued at $6,000, to his sister in May 2020. He purchased the bike for $12,000 in July 2012. Enhancements were made in April 2015 for $2,500.

Complete the following information for CGT Event 2:

CGT Event	[ Select ] ["A1", "B1", "C1", "C2", "D1", "D2", "H1"]
CGT Event Date	Month: Year:
Asset Category	[ Select ] ["CGT Asset (general)", "Collectable", "Personal Use Asset", "Depreciable Asset", "Trading Stock", "Other"]
CGT Income Year
Acquisition Date	Month: Year:

Calculate the Sale Proceeds for the motorbike :

Calculate the cost base of the motorbike.

Element 1: $

Element 2: $

Element 3: $

Element 4: $

Element 5: $

Total Cost Base: $

Determine which exemption/special treatment, if any, applies to the motorbike

Main Residence Exemption - Full

Main Residence Exemption - Partial

Main Residence Exemption - Not Eligible

Disregard - Element 1 under $500

Disregard - Element 1 under $10,000

Disregard - Depreciating Asset

Disregard - Trading Stock

Disregard - Exempt Asset

Disregard - Pre CGT Asset

No Exemption Applies

Losses Disregarded

Losses Quarantined

Calculate the gross gain (loss) for the motorbike irrespective of whether any exemption that may apply

For the motorbike, irrespective of whether an exemption or special rule applies, you may need to calculate the Reduced Cost Base, Indexed Cost Base, or Discounted Gain (gain after applying discount).

Calculate the gross taxable gain (loss) for the motorbike