1. Business
  2. Accounting
  3. question 5 cgt jacquie is a resident of australia for...

Question: question 5 cgt jacquie is a resident of australia for...

Question details

Question 5 (CGT) Jacquie is a resident of Australia for taxation purposes. In which of the following situations would she be mostly likely to have a capital gain or capital loss under the taxation legislation assuming all the sales took place in the 2018 income year? 1) Sale of a Motor bike for $15,000. The bike was acquired for $10,500 in 2008. 2) Sale of a refrigerator for $8,000 which was acquired for $11,000 in 2012. 3) Sale of a painting for $5,000. The painting was acquired by Jacquie on the death of her mother who died on 4 June 2010. Her mother had purchased the painting for $200 in 1993. 4) Sale of artwork for $800 where it was purchased by Jacquie for $560 in 1987. 5) Sale of her home for $500,000 in June 2018 where the person had lived in the home for the whole period of ownership.

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution