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Question - Keith had to move house to Sydney to look after his sick grandparents. Before moving, Keith sold the following assets:

Item

Purchase Price

Sale Price

Antique Teapot

$12,000

$11,500

Cake Maker

$10,100

$15,000

Vacant Property

$327,000

$207,000

Main Residence

$3,190,000

$2,080,000

Abstract Sculpture

$700

$22,000

Rental Property

$250,000

$379,000

All the assets were purchased on 1 September 2010 and sold on 30 June 2020.

Required - Calculate the total amount, if any, to be included in Keith's assessable income from these CGT events?

Reference no: EM132642628

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