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Taxation Assignment- Solutions

   

Added on  2019-11-26

10 Pages1918 Words163 Views
Taxation Assignment1 | P a g e

ContentsAnswer 1:....................................................................................................................................................3Solution2:....................................................................................................................................................5Solution 3:...................................................................................................................................................6Solution 4:...................................................................................................................................................7Solution 5:...................................................................................................................................................8Bibliography................................................................................................................................................92 | P a g e

Answer 1:While observing from the current question analysis following fact and figures are being determined, Erique has acquired an antique vase which is currently valued at the price of $2,000,an antique chair of $ 3,000, a painting the current valuation of which is taken into account at $ 9000, a home sound system which presently amounts to around $ 12000, and in addition to this he has got certain shares in the listed company which has current valuation of $ 5000. However the referred assesse in the current case structure has sold all the assets mentioned above last week. The amount received from the respective sale was Antique vase for $ 3,000, antique chair for $ 1,000, painting for $ 1,000, shares in the listed company for $ 20,000 and home sound system for $ 36,000. Table showing above purchase value, sales value, capital gain and the capital loss is given as below: As per the laws of Australia, all capital assets which are chargeable to capital gain taxes should 3 | P a g e

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