ohn, an Australian Resident, sold the following assets: Item Purchase Price Sale Price Motor Bike 1 5

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ohn, an Australian Resident, sold the following assets:

Item Purchase Price Sale Price

Motor Bike $15, 000 86, 000$

Valuable Painting $190, 000 312, 000$

Dinner Table $26, 000 14, 000$

Lounge furniture $8, 000 11, 000$

Antique Statue $31, 000 21, 000$

Rental Apartment $590, 000 660, 000$

All assets were purchased on $1$ October $2017$ and sold on $30$ June $2019 .$

Required:

Calculate the total amount to be included in John's assessable income, if any, from these CGT events?

Related Book For answer-question

Numerical Methods With Chemical Engineering Applications

ISBN: 9781107135116

1st Edition

Authors: Kevin D. Dorfman, Prodromos Daoutidis

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Posted Date: Feb 27, 2024 11:34 PM

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ohn, an Australian Resident, sold the following assets: Item Purchase Price Sale Price Motor Bike 1 5

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Answer To calculate the capital gains or losses from the sale of these assets we need to determine t... View the full answer

Numerical Methods With Chemical Engineering Applications

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