Page 424 - F1 Integrated Workbook STUDENT 2018

Chaptter 25

Exxampple 9

Using the infformation from exammple 8 calculate thee capital taax to be ppaid
on the dispossal?
Solution

$
Salee proceedss 50,000
Lesss: Cost (20,000)
––––––
30,000
Lesss: Indexation allowance
20,0000 × 30%% (examplee 8) (6,000)
––––––
Chaargeable gain 24,000
––––––

Cappital tax = $24,000 ×× 30% = $77,200

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