Question
YZ, incorporated in Country X, purchased a non-depreciable asset for $45,000 on 1 January 2005. YZ incurred additional purchase costs of $5,000. The asset was
YZ, incorporated in Country X, purchased a non-depreciable asset for $45,000 on 1 January 2005. YZ incurred additional purchase costs of $5,000.
The asset was eventually sold for $110,000 on 31 December 2013.
The indexation factor from 1 January 2005 to 31 December 2013 was 35%.
The capital gains tax that YZ is due to pay on the disposal of the asset is:
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Financial Accounting in an Economic Context
Authors: Jamie Pratt
10th edition
978-1-119-3061, 1119306167, 978-1119444367
