Capital Gain Tax Question. Sample Paper

alexnwa

Hello, am struggle to solve this question regarding Capital Gain Tax. Here is the questions below:

The following information is available about four taxpayers who sold capitals assets during 2016/2017. These are the only assets that they sold during 2016/2017, none of which relate to residential.

Taxpayer Sold to Proceeds Market Value Cost Other taxable income

Alex Husband 28750 42600 12000 47500

Donna Brother 19000 22000 7500 30000

Carl Stranger 64800 64000 44050 54600

Bridget Friend 26000 28000 9500 18430



Calculate the amount of capital gains tax payable for each taxpayer

Taxpayer Amount of capital gains tax payable

Alex

Donna

Carl

Bridget