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What Is Sec 104-15 (2) Of CGT?

Satisfactory Essays

Question 5:
a) Sec 104-15(2) of CGT (Capital Gain Tax) Subdivision 104-B describes the CGT event occurred under Use and enjoyment before title passes. Here, Josh and Ben entered into the contract for the purchase of boat. Ben, being the purchaser wants to have a trail with the boat and promises to buy the boat within the time period of three years or sooner. Fortunately, Ben buys the boat within some months of agreement. Here, Ben has enjoyed the use of the assets before buying it though bound under certain agreement.

b) Sec 104-5 Subdivision 104 C describes the end of a CGT asset, if the taxpayer property is lost or destroyed. In the case, Mark acquired an asset for $50,000 and unfortunately the asset is destroyed by fire. Here, the event

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