Christina's receipts for the year were salary of $5,000 and proceeds from the sale of shares of
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Christina's receipts for the year were salary of $5,000 and proceeds from the sale of shares of $21,709. The shares had been purchased on 12 December 2000 for $9,000 and sold on 1 February of the current income year. Brokerage of 1% had been charged on both purchase and sale. She had bought them for investment purposes but no dividends had been paid. She still had an unclaimed net capital loss of $4,000 which resulted from the sale of other shares in May 1997. Calculate Christina's net tax payable including Medicare levy.
Related Book For
Modern Advanced Accounting In Canada
ISBN: 9781259066481
7th Edition
Authors: Hilton Murray, Herauf Darrell
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