Jack purchased his Melbourne house on 1 January 2009 for $300,000. He lived in it as his main residence until 1 March 2013 at which time he moved to a rental property in Sydney for work. While Jack was in Sydney he rented out his Melbourne house. In March 2017 Jack moved back into his Melbourne house and lived there until 5 May 2017 when he sold the property for $600,000 incurring $5,000 in advertising fees on the sale.
Determine Jack’s net capital gain/loss on the Melbourne house (showing workings and citing sections) (4 marks).
Don't use plagiarized sources. Get Your Custom Essay on
Determine Jack’s net capital gain/loss on the Melbourne house (showing workings and citing sections) (4 marks).
Just from $13/Page