The following assets were disposed by Beethoven for the year ended 30 June 2019.

Purchase	Cost	Sale date	Proceeds
			Date	S$		S$
Shares A			28/10/1993	55000	13/6/2019	92000
Painting			19/2/2000	1900	13/6/2019	2300
Personal sofa			30/3/2009	10500	13/6/2019	15200
Antique Jewellery			20/9/2001	6300	13/6/2019	7900
Shares B			15/12/1981	3200	13/6/2019	4500
Vacant Land			15/7/1997	29000	13/6/2019	29100
Home			28/12/2011	95000	13/6/2019	135000
Old etching			15/11/2015	750	13/6/2019	366

Q: Advise on the Capital Gain Tax consequences of the above.

Answer rating: 100% (QA)

If Beethoven disposes of an asset for more than its cost he will make a capital gain If the asset is ... View the full answer