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Calculate the net capital gain

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Question - On 1 July 2019 Mary acquired a rare coin for $55765. Mary borrowed $30,000 of the money from the XYZ Bank. The loan was a fixed interest loan on which she paid interest of $21,000. Mary sold it in September 2020 for $83964.

Required - Calculate the Net Capital Gain, if any, to be included as Mary's assessable income for the year ending 30 June 2021?

Reference no: EM132975718

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