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what can be claimed for tax (Australian) Capital Gains Losses) Rick advise you that he said the following during the 2019 income year As previously

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what can be claimed for tax (Australian)

Capital Gains Losses) Rick advise you that he said the following during the 2019 income year As previously indicated Rick owns number of Australian shares on September 2018, he purchased 100.000 de ces shares under a contract of purchase for $4200 Backseaso n ed on the reso240 Rock and where of $20 anos on this date. These shares were a non active asset. Rick did not receive any dividends from these shares during the period of ownership On 2 February 2018, Rick's grandfather Bob aged 88p d sway. Under Bobs will, Rick inherited a vacant back of wd at Malony. Bobinally purchased this block of land on 11 August 1988 for $170.000. As the date of Bob's death, the market value of this block of land was 120.000. On 19 May 2019, Rick sold the vacant back of land for $300 000 under a contract of sale Incidental costs of disposal including legal fees and sales commission totalied $5.760. Settlement occurred on 12 June 2019. The vacant block of land at Maleny was a non-active asset and no income was derived by Rick from this property during his ownership period On 28 December 2018. Upon having a "spring' cleanout of the attic, Rick comes across an old 1962 Batman comic book He remember that he bought this comic book in a second hand comic book store in March 2004 for $10. To his great surprise, after some researching various comic books sites on the Internet he discovers that this comic book is now worth a fair bit of money. He quickly sets up ane bay account and eventually sells this comic book on 6 April 2019 for $850 (gross). E-bay deducts a sales commission of $34. (d) On 6 October 2018, Rick sold a Chinese vase to his next door neighbour for $1,920. He initially acquired this vase on 4 May 2011 for $680. It has been sitting in his dining room at his home. It turns out that the vase dates back more than 600 years to the Ming Dynasty in China. There were no incidental costs of acquisition or disposal income years. Firstly, there is a net collectable capital loss of $220 relating to the sale $5,200 relating to the sale of Virgin Australia Lid shares in 2018. Rick wishes to minimise his capital gains tax payable wherever legally possible. Assume that Rick is not eligible to rollover any of part of the capital gain relating to any of the assets

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