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Question - On August 2017 Alfonso Garcia sold a business premises that he used to conduct his business for $790,000. The cost base of the premises was $520,000 when purchased in 2010.
Alfonso moved into a rented premises and spent $35,000 on fittings etc on August 19th 2017 which are deemed to be "replacement Assets".
His business satisfies all the criteria to access the small business capital gains tax concessions.
What is Alfonso's net capital gain for the 20174/18 FY?
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