1. Jim, an individual resident taxpayer, acquired an investment property for $340,000, plus $10,000 in stamp duty on 1 July 2003. He sold it for $550,000 on the 30 June in the current tax year. 
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3. What would be Jim’s net capital gain for the current income year?

Answer rating: 100% (QA)

To calculate Jims net capital gain for the current income year we need to consider the cost base o... View the full answer