Sample Assessment 1 Task 11

darren100

I am getting stuck on a question on sample assessment 1 Personal Tax Question 11 I have worked out the capital gains tax payable for each taxpayer apart from Donna I know the answer is 480 from the answers sheet but am unsure how to get to this figure with the information provided.

Nicola_Wilson1

Hi Darren, did you ever figure this out? I have spent about an hour online looking for a solution. I have my exam tomorrow an this question has really through me.

darren100

Yes some of the tax comes under the remaining users basic allowance and is at taxed at 10% and the remainder is at higher 20% i dont have the question in front of me that that is how it's done

Nicola_Wilson1

Ah right, thanks. I will have a look again.
Nikki