is tax return. During the 2018-19 financial year, Max disposed flax is your client and has come to you to prepare h Df the following assets: (a) A two-storey residence at Stuart Park in which he acquired in May 1991. In 1995 Max vacated the premises to work in Japan for three years, during this period the property was rented. Other than the 3 year period, Vax has lived in the property as his residence. He paid $370,000 to purchase the property and received $840,000 on 27 June 2019, after the real estate agent deducted commissions of $10,000. (b) Max sold vacant residential land originally purchased on 16 June 1984 for $300,000. He initially intended to build a house on the land and rent the property. The land was sold for $500,000. The contract of sale was entered into on 28 January 2019 and settlement is to take place on 30 August 2019.
(c) A painting was purchased by Max for $5,500 on 1 June 2009 and sold for $30,000 on 30 March 2019.
(d) Max purchased a luxury motor cruiser that he has moored at the Manly Yacht club in late 2004 for $90,000. He sold it on 2 April 2019 to a local boat broker for $25,000.
(e) Max bought BHP shares on 15 July 2018 for $25,000. He sold those shares on 2 May 2019 for $40,000. Max has capital losses he is carrying forward from previous years of $25,000.
Max also received a salary of $90,001 from his position as the manager of an accounting practice. In additio n, Max's employer awarded him a bonus of $2,500 for exceeding his employment targets.
Calculate Max's tax payable for the year endin e justificati legislation and case l aw. g 30 June 2019, Provide for your calculations using
1. Determine the available strength of the eight ¾ -in. A490- N bolts in a WT6 x 20, A992 steel plate when the bolts are placed as shown. Determine (a) design strength by...May 25 2020
What is the value of a building that is expected to generate fixed annual cash flows of 121,300 dollars every year for a certain amount of time if the first annual cash f...Jul 17 2021
While he was in high school, Joel Gibb downloaded numerous songs to his smartphone from an unlicensed file-sharing service. He used portions of the copyrighted songs when...Jul 30 2021
Describe an oligopolistic market structure. What alternatives to price competition exist in such markets? Why would these alternatives be important to shippers?Aug 09 2020
Find the velocity, acceleration,and speed of a particle with position function.Jun 20 2021
netflix has recently financed the expansion of its original content library to a great extent through the issuance of debt instead of equity. Which of the following facto...May 07 2021
Review the Grammar/Mechanics Handbook Sections 2.05-2.09. Then select the correctly punctuated sentence and record its letter in the space provided. Record also the appro...Aug 21 2021
The following diagram shows the domestic demand and supply in a market. Assume that the world price in this market is $10 per unit Suppose the government imposes a tariff...Jul 08 2021
A duplicated chromosome has how many chromatids? (A) One (B) Two (C) Three (D) FourMar 13 2018
Titles of the Affordable Care Act Obamacare, officially called the Patient Protection and Affordable Care Act (PPACA) but more often called the Affordable Care Act (ACA),...Mar 19 2020