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QUESTION
A car he bought 3 years ago for $65 000 and was used solely for his personal use was sold for $25 000. The book value of the car is $27500. In this
A car he bought 3 years ago for $65 000 and was used solely for his personal use was sold for $25 000. The book value of the car is $27500.
In this case, how much should he declare on his tax return? Is the CGT discount method applied?
