Hello Sir James Chung,
Can you clarify for me the cost or review of <$10,000/- outcome as per below
(Sale Price – Cost Price) CGT
Autograph Trophy ($14,000 – $2,000) $12,000.00 $12,000.00
Review-cost <$10,000/- (assessor comment)
This is one of the assessment questions. Please review 4.4 CGT ASSETS – Personal-use assets.
Also confused by feedback on this.
Rules for collectables and personal use assets differ, I would have thought the trophy was a collectable, not a personal use asset?
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