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Order new solutionIncome Tax Framework II - Question 3
(a) As per the Capital gains Rules of the Australian Taxation Office, shares are CGT assets and capital gain tax shall apply on the gain made on the sale of these shares. As the shares were held for more than 12 months and were acquired before 21 September 1999, the indexation rules will apply here.
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Sale Consideration |
1000*15 |
$ 15,000 |
|
Less: brokerage fees |
$ 1,000 |
|
|
Ne Sales consideration |
.... |
