On 26 August 1985, Mary purchased a property as her home for $35,000. One year later, 26
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Question:
One year later, 26 August 1986, she purchased another property on the same street as a rental property for $46606.
Mary sold both properties to a property developer on 31 December 2019 for $1,200,000 each.
Required:
Calculate the Net Capital Gain, if any, to be included in Mary's 2020 assessable income.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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