Please answer the questions below, please don't copy and paste from another answer source

Question 1

Are the following CGT assets, collectables, or personal use assets?

• an engagement ring which cost $5,000?

• a second-hand car purchased for $2,000?

• shares in BHP?

• your home?

• a painting hung in the foyer of your accountants office?

• a holiday home at Byron Bay?

  Question 2

  Which of the following can form part of the cost base of a rental property used for income producing purposes?

1. Repairs to broken window

2. Rates and land tax

3. Interest expense on loan

4. Legal fees on purchase

5. Legal fees on mortgage(loan)

6. Stamp duty of purchase

7. Stamp duty on mortgage (loan)

8. Purchase price

9. Extensions to build extra room

10. Concrete driveway replacing existing gravel driveway

11. Removal of old chimney

12. Clearing old vegetation away