Alex is a musician who is also interested in collecting old golden gramophones. He is not collecting these old golden gramophones for business purposes. On 20 February 2020, Alex sold one of these old golden gramophones for $3,000. The gramophone cost him $500 when he acquired it on 1 June 2000. With reference to the relevant legislation, discuss Alex’s net capital gain or net capital loss for the year ended 30 June.

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ANS WER Alex s net capital gain for the year ended 30 ... View the full answer