1 July 2007: Troy purchased a Melbourne house for $300,000 and occupied it with his family. 1...

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1 July 2007: Troy purchased a Melbourne house for $300,000 and occupied it with his family.

1 July 2011: Troy was relocated to Sydney and he purchased and occupied a house there as his main residence. The Melbourne house was leased to tenants.

30 June 2017: He sold the Melbourne house for $500,000.

What is his capital gain (before discount) if he does not elect to treat the Melbourne dwelling as his main residence during his absence?

Group of answer choices

$80,000

Nil

$120,000

$200,000

Related Book For answer-question

Introductory Statistics

ISBN: 978-0470904107

8th edition

Authors: Prem S. Mann

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Posted Date: Sep 25, 2020 12:47 PM

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1 July 2007: Troy purchased a Melbourne house for $300,000 and occupied it with his family. 1...

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Capital Gain 200000 Explanation Capital gain 500000 30... View the full answer

Introductory Statistics

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