of her shares, as follows: Shares Dog Ltd Cat Ltd Bird Ltd Date purchased Cost of purchase 1 March 2013 1 July 2021 1 March 2012 $8,000 $6,000 $10,000 Date sold 1 June 2022 1 June 2022 1 June 2022 Sales proceeds $14,000 $18,000 $5,000 You can assume that apart from the purchase price, she did not incur any costs associated with the purchase or sale of these shares. You can also assume she has no capital losses from prior years. Calculate Melanie's net capital gain or loss for the year ended 30 June 2022, assuming she wants to minimise her tax liability.

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter11: Investment Planning
Section: Chapter Questions
Problem 9FPE
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Question 2
Melanie owns a small share portfolio. She holds these shares as a held as a passive
investor (i.e. she is not regarded as a share trader). During the year she sold some
of her shares, as follows:
Shares
Dog Ltd
Cat Ltd
Bird Ltd
Date
purchased
Cost of
purchase
1 March 2013
$6,000
1 July 2021
$10,000
1 March 2012 $8,000
Date sold
1 June 2022
1 June 2022
1 June 2022
Sales
proceeds
$14,000
$18,000
$5,000
You can assume that apart from the purchase price, she did not incur any costs
associated with the purchase or sale of these shares. You can also assume she has no
capital losses from prior years.
Calculate Melanie's net capital gain or loss for the year ended 30 June 2022,
assuming she wants to minimise her tax liability.
Transcribed Image Text:Question 2 Melanie owns a small share portfolio. She holds these shares as a held as a passive investor (i.e. she is not regarded as a share trader). During the year she sold some of her shares, as follows: Shares Dog Ltd Cat Ltd Bird Ltd Date purchased Cost of purchase 1 March 2013 $6,000 1 July 2021 $10,000 1 March 2012 $8,000 Date sold 1 June 2022 1 June 2022 1 June 2022 Sales proceeds $14,000 $18,000 $5,000 You can assume that apart from the purchase price, she did not incur any costs associated with the purchase or sale of these shares. You can also assume she has no capital losses from prior years. Calculate Melanie's net capital gain or loss for the year ended 30 June 2022, assuming she wants to minimise her tax liability.
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