Ignoring capital gains tax, discuss whether the receipt of $600,000 is ordinary income under s 6-5. September 6, 2016 Read More »
Peta spent $100,000 on preparing the tennis courts for sale. This involved a great deal of work. Peta had to resurface the tennis courts and build new fences around them. She then sold the tennis courts in the current tax year to the tennis club for $600,000 September 6, 2016 Read More »
Two years ago Peta purchased a house in Kew. This house had two old tennis courts down the back which were in poor condition. She purchased the property for two reasons: so that she and her family could live in the house; and September 6, 2016 Read More »