Determination of capital gains tax

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Reference no: EM13179752

Jessie acquired a holiday house on 2 December 2000. The holiday house is not available for rental and is not Jessie main residence. Between 1.12.2000 and the current tax year Jessie had incuurred the following expenses:
Purchase of house $100000
interest on mortgage $40000
cost of building a garage $20000
repairs and maintenance $3000
council rates $5000
Solicitors fee for setting a dispute over the actual boundary of the property $4000
What is Jessie's cost base for the determination of Capital gains tax?
a $120000
b $124000
c $164000
d $172000

Reference no: EM13179752

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