Adele is an Australian resident individual who does not carry on a business. During the current income
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Question:
Adele is an Australian resident individual who does not carry on a business. During the current income tax year, she made:
- a capital gain of $100,000 from the sale of land that she owned for seven years
- a capital loss of $10,000 from the sale of shares that she owned for five years.
Adele also has prior year carry forward capital losses that total $30,000 from the sale of shares.
What is Adele's assessable net capital gain for the current income tax year?
A $15,000
B $30,000
C $45,000
D $60,000
Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
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