Tutorial Question for Week 6 John, a full time tax consultant, derived salary of $120,000...
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Tutorial Question for Week 6 ■ John, a full time tax consultant, derived salary of $120,000 in this income year. ■ He purchased 1,000 shares in Woolworths for $18,000 in 2003, 500 shares in Westpac Bank for $20,000 in 2007, and 1,000 shares in BHP for $30,000 in January 2020. In March 2020, he sold all the shares in Woolworths for $32,000, Westpac for $15,000, and BHP for $38,000. Assuming no other income, calculate John's total assessable income for the income year. Tutorial Question for Week 6 ■ John, a full time tax consultant, derived salary of $120,000 in this income year. ■ He purchased 1,000 shares in Woolworths for $18,000 in 2003, 500 shares in Westpac Bank for $20,000 in 2007, and 1,000 shares in BHP for $30,000 in January 2020. In March 2020, he sold all the shares in Woolworths for $32,000, Westpac for $15,000, and BHP for $38,000. Assuming no other income, calculate John's total assessable income for the income year.
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Answer rating: 100% (QA)
Johns total assessable income for the year would be 120000 ... View the full answer
Related Book For
Economics Principles and Policy
ISBN: 978-0538453653
12th edition
Authors: William J. Baumol, Alan S. Blinder
Posted Date:
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