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Please solve all parts ..aply Australian law 4.On 9 August 2019, Alfonso Garcia sold...

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Accounting

Please solve all parts ..aply Australian lawimage

4.On 9 August 2019, Alfonso Garcia sold the premises from which he had conducted his sand and gravel wholesale business for $790000. The cost base of the premises was $520000 when purchased in 2011. Alfonso moved into rented premises and spent $35000 on fittings and leasehold improvements on 19 August 2019. Alfonso's business satisfies all of the criteria in Subdivision 152-A and he did not expect to acquire any further business assets in the next 2 years. Calculate Alfonso's net capital gain for the 2019/20 year. $ $ Gain on sale of premises -Discount - Small business active asset reduction - Small business rollover = Net capital gain

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