Question 2 Are the following: CGT assets, collectables or personal use assets. Are any exempt? (a) An engagement ring which cost $5,000? (b) A second-hand car purchased for $2,000? (c) Shares in BHP? (d) Your home? (e) A painting hung in the foyer of your accounting ?rm? (f) A holiday house at Byron Bay? (g) Your motor home?(h) Your stamp collection which cost $4,000?(i) A horse that you paid $9,000 for?(j) A watch that cost you $490?
Collectables or personal use assets
We help you get better grades, improve your productivity and get more fun out of college!!
Get Homework Answer for this question
Free title page
Free reference page
Free formatting
Unlimited revisions