Discuss the CGT consequences of these events for Nathan and…

Question Answered step-by-step Discuss the CGT consequences of these events for Nathan and… Discuss the CGT consequences of these events for Nathan and Chemical Pty Ltd (4 marks). Include in your discussion the availability of the 50% discount.Nathan had a car that he acquired for $45,000 5 years ago. It was stolen in the current tax year, and insurance as a result gave Nathan $65,000 in compensation.Nathan, whose job was an industrial chemist, also entered into a restraint of trade with his ex-employer, Chemical Pty Ltd, to not work with any of their competitors for 3 years. Nathan was paid $300,000 for this (assume this did not constitute ordinary income and was also not assessable under s. 15-2). When the agreement lapsed it was not renewed. Law Social Science Tax law MLC 301 Share QuestionEmailCopy link Comments (0)