Australian company Assignment | College Homework Help
Toto Bobo is an Australian company.
Toto Bobo has 4 directors
• Two are located in Singapore
• One is located in Monaco, and
• Edi who is Australian
Edi has sold the following items
4. An antique sold on 1 May 2018 for $15,000. Edi bought the antique on 31 December 1989 at a cost of $5,000 for personal reasons.
5. Jewellery sold in July 2017 for $5,000. The jewellery was purchased for 29/09/09 for $20,000.
Advise Edi as to the tax implications of each of these disposals and calculate any amounts required to be declared in his tax return.