Answer to Question #152484 in Other for sandeep

Question #152484
Question 1
Bella Neal wins a seat in Parliament and transfers to Canberra. Before moving, Bella sold the following assets:Item($) Purchase Price ($) Sale Price
Vacant Land 200,000 220,000
Plasma TV 10,500 5,500
Painting 150 4,500
Antique Sideboard 2,000 1,600
Boat 11,700 19,900
All assets were purchased on 1 July 2000 and sold on 30 June 2013. There are no other relevant transactions affecting her taxable income for the tax year ending 30 June 2013.
Required:Calculate Bella’s Net Capital Gain.
Expert's answer
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