So 50 percent discount is applied, the assets are held for more…

Question So 50 percent discount is applied, the assets are held for more… So 50 percent discount is applied, the assets are held for more than 12 months.  In this case the assets were purchased on 20 June 2019 and sold in current tax year.In current tax year 10 January  2022, the assets are held for more than 12 months and hence 50% discount will be applied on capital gain after applying capital losses.Step-by-step explanationCalculation of net capital gain/(Loss)Asset  Acquisition Price(B) Selling Price(A) Capital Gain/(Loss)(A-B)Antique desk $1100 $300 -$800Shares in BUS Ltd $40,000 $60,000 $20,000Shares in Nok Ltd. $80,000 $70,000 -$10,000capital gain     $9,200Capital gain after applying 50% discount = $9,200 * 50% = $4600Hence the net capital gain is $4600 Law Social Science Tax law MLC 301 Share QuestionEmailCopy link Comments (0)