For capital gain days held calculations, clarify if you include date sold as days held aswell?
For capital gain days held calculations, clarify if you include date sold as days held aswell?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
1.
Transcribed Image Text:**ANSWER BASED ON
AUSTRALIAN TAX OONLY**
Question:
For capital gain days held
calculations, clarify if you include
date sold as days held aswell?
Asset Purchased:19/07/1997
Asset Sold: 17/05/2021
Days Held: 165 + 8395 + 137 =
8697
2021 - 1997 / 4 = 6 Leap Days
a) 8697 + 6 = 8703
OR
b) 8697 + 6 + 1 (Including end
date) = 8704
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