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Added on -2020-07-23
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Taxation
TABLE OF CONTENTSQuestion 1........................................................................................................................................1Introduction.................................................................................................................................1Critical Analysis..........................................................................................................................1Supporting Evidence...................................................................................................................2Conclusion...................................................................................................................................2Question 2........................................................................................................................................2Introduction.................................................................................................................................2Critical analysis...........................................................................................................................2Supportive evidence: ..................................................................................................................4Conclusion...................................................................................................................................4Question 3........................................................................................................................................4Introduction.................................................................................................................................4Critical Evaluation......................................................................................................................4Supportive Evidence...................................................................................................................5Conclusion...................................................................................................................................5Question 4........................................................................................................................................5Introduction.................................................................................................................................5Critical Analysis..........................................................................................................................5Supporting Evidence...................................................................................................................5Conclusion...................................................................................................................................6Question 5........................................................................................................................................6Introduction.................................................................................................................................6Critical Analysis..........................................................................................................................6Supporting Evidence:..................................................................................................................6Conclusion...................................................................................................................................6REFERENCES................................................................................................................................7
Question 1IntroductionCapital gains and losses are calculated whenever an item is purchased, and sold. Theamount that is derived is considered to be taxable but a taxpayer can also deduct the same fromany recent capital gain. There is a case of Eric who bought few antique items and shares. Now,he is selling them up for a certain amount and wants to know if he is gaining or losing (King andFullerton, 2010). As there were some items which are sold at less price while there were somewhich gave higher return to him.Critical AnalysisAntiques are the items whose price keep on growing with time. They will be moreprecious than the last year and will be considered as capital assets. For analysing, loss or profiton the sale of different items, one has to subtract capital loss from gains that were recorded whencapital assets were sold. ParticularsAmountDifferenceSale of Antique Vase3000Purchase-20001000Sale of Antique Chair1000Bought @-3000-2000Sale of painting1000Acquired-9000-8000Sale of Sound System11000Purchased @-12000-1000Sale of Shares20000Bought @-500015000Total50001
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