Would your answer be different if the loss arose from the sale of an antique vase? September 21, 2016 Read More »
Calculate Fred’s net capital gain for the current year. Assume he also has a net capital loss from last year of $10,000 arising from the sale of shares. September 21, 2016 Read More »
Fred is a resident who signed a contract to sell his holiday home in the Blue Mountains in August last year. The sale was settled in February this year when Fred received $800,000 from the purchaser September 21, 2016 Read More »
Karl is a rich employee investment banker. His friend Petra ran a DVD store. Petra owned the DVD store premises and land that it was located on. Petra needed some money as her store was struggling financially, so Karl lent her business $100,000 at 8% annual interest September 12, 2016 Read More »
whether the sale of the land generates ordinary income for Karl due to laws relating to the assessability of extraordinary/isolated transactions September 12, 2016 Read More »
On 1 June 1999 Cindy entered into a contract to buy two separate shop premises. Settlement was on 1 October 1999. Cindy paid $200,000 for each shop premises September 12, 2016 Read More »
Also ensure that you calculate Cindy’s Net Capital Gain for the current financial year September 12, 2016 Read More »
Advise Cindy on: Any Capital Gains Tax liabilities for her in relation to her activities. September 12, 2016 Read More »