Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. maree weston, an australian resident taxpayer, sol

Maree Weston, an Australian resident taxpayer, sold shares in her investment portfolio on 12 March...

90.2K

Verified Solution

Question

Finance

Maree Weston, an Australian resident taxpayer, sold shares in her investment portfolio on 12 March 2021.

The acquisition dates, costs and sale proceeds are shown in the table below.

Company

Acquisition date

No. shares

Cost

Capital proceeds

#1

Carlton Ltd

05/07/2007

1,500

$3,810

$4,642

#2

Essendon Ltd

22/05/2020

3,100

$4,960

$6,224

#3

Gelong Ltd

18/08/1989

6,250

$5,000

$6,846

#4

Hawthorn Ltd

12/09/1985

3,565

$6,417

$6,916

#5

Richmond Ltd

02/10/2018

1,963

$7,852

$6,358

The costs include brokerage costs and any applicable stamp duty. There were no brokerage costs on sale.

Maree has the following unapplied net capital losses from the 2019/20 income year:

  • $340 arising from the sale of shares
  • $400 arising from the sale of a collectable

Determine the capital gain tax consequences of selling shares for an Australian resident individual

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

5 Select the incorrect statement about cathode rays a They travel from cathode to anode...

Biology
1.2K views

Regarding T cell and antigen presenting cell (APC) interactions, name a pair of proteins that mediate...

Biology
1.2K views

3 How does age structure influence population growth 2 marks

Biology
1.2K views

Which of the following is NOT an example of a fungus?bread moldslime moldyeastmushroom

Biology
1.2K views

The diagram below shows the forelimb structure of three different species whale bird US frog...

Basic Math
1.2K views

28 of 50 Natalie has a Personal Auto Policy with Liability Coverage limits of 15...

Basic Math
1.2K views

Find the equations of both of the tangent lines to the ellipse + 4y...

Accounting
1.2K views

On May 1, AIG issued 9-month notes in the amount of...

Accounting
1.2K views

Using the table, what is the average daily balance of the credit card for the...

Accounting
1.2K views

Amy wants to take the next four years off work to travel around the world....

Accounting
1.2K views

E10-2 (Algo) Recording Notes Payable through the Time to Maturity [LO 10-2) Many businesses borrow...

Accounting
1.2K views

This is all the data given: Before we prepare the adjusting entries, we must do...