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Taxpayer Case

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Taxpayer Case
Question 1
There is a time table about John: DATE | ACTIVE | $ | PROPERTY | 01/03/1996 | Purchase | $100,000.00 | Burwood | 01/07/2011 | Purchase | $300,000.00 | Camberwell | 01/09/2011 | Declared this house to be his main residence | | Camberwell | 30/12/2011 | Post to New York, rent property | | Camberwell | 01/03/2012 | Sell | $175,000.00 | Burwood | 30/12/2016 | Back to Melbourne | | | 01/02/2017 | Sell | $500,000.00 | Camberwell |

The CGT consequences of these events must process as follow:
Property at Burwood
Step 1 - has he made a capital gain or loss? Step 1. has he made a capital gain or loss? | BURWOOD | CAMBERWELL | | | | Question 1. | Has a CGT event happened to the taxpayer? | Disposals | [s104-A] | Disposals | [s104-A] | …show more content…
| Is the asset a CGT asset? | land and buildings | [s108-5] | land and buildings | [s108-5] | Question 3. | Does an exception or exemption apply? | No* | [s 118-100] [s118-100] | Yes** | [s 118-100] [s118-100]
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