On 10 July CY, Slinky sold some shares for $10,000 that he had acquired for $4,500 on 3 May PY. He paid brokerage on both the sale and acquisition of these shares which was equal to 5% of the sales and acquisition price. Based on the above facts and relevant tax laws, how would the sale of these shares be treated for tax purposes?

Answer rating: 100% (QA)

Based on the information provided Slinky acquired shares on 3 May PY for 4500 Brokerage o... View the full answer