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Calculate the Net Capital Gain

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Question - On 1 July 2016 Keith acquired a Rolex watch for $42,000. Keith borrowed $40,000 of the money from Nasty Bank. The loan was a fixed interest loan on which Keith paid interest of $25,000. Keith sold it in September 2018 for $75,000.

Required - Calculate the Net Capital Gain, if any, to be include in Keith's assessable income.

Reference no: EM132642630

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