Week 3 Question
Alex is a musician who is also interested in collecting old golden gramophones. He is not collecting
these old golden gramophones for business purposes. On 20 February 2020, Alex sold one of these
old golden gramophones for $3,000. The gramophone cost him $500 when he acquired it on 1 June
2000. With reference to the relevant legislation, discuss Alex’s net capital gain or net capital loss for
the year ended 30 June.
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