Melissa Acquired an Antique Camel Statue - Law Assignment Help

Assignment Task:

Task:

On 1 July 2019 Melissa acquired an antique Camel statue for $300 which she kept in the hallway of her house. 
0 1 December 2020 she sold it for $4,300 Required Calculate the Net Capital Gain, if any, to be included as Melissa's assessable income for the year ending 30 June 2021 For all answers (unless otherwise indicated), please round your answer to the nearest dollar and use numerals only eg 9999 

On 1 November 1992 Doug had a nice home in Sydney and so he acquired a second hand lounge room set of furniture for $11,000 He sold the lounge room set in September 2020 for $16,000. Required: Calculate the indexed cost base for Capital Gains Tax purposes rounded to the nearest dollar 

On 1 July 2000, Genevieve purchased a property in Sydney for $300,000 Her intention was to use it for income producing purposes and it was Immediately made available for rent. 
It remained available for rent until it was sold. 
She sold the property on 31 December 2019 for $600,000. Required: Based on this information, calculate the Net Capital Gain, if any, to be included in Genevieve's assessable income for year ending 30 June 2020 
Answer: 
1 
The correct answer is: 150000 

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