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For capital gain days held calculations, clarify if you include date sold as days held aswell?

For capital gain days held calculations, clarify if you include date sold as days held aswell?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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**ANSWER BASED ON AUSTRALIAN TAX OONLY** Question: For capital gain days held calculations, clarify if you include date sold as days held aswell? Asset Purchased:19/07/1997 Asset Sold: 17/05/2021 Days Held: 165 + 8395 + 137 = 8697 2021 - 1997 / 4 = 6 Leap Days a) 8697 + 6 = 8703 OR b) 8697 + 6 + 1 (Including end date) = 8704
Transcribed Image Text:**ANSWER BASED ON AUSTRALIAN TAX OONLY** Question: For capital gain days held calculations, clarify if you include date sold as days held aswell? Asset Purchased:19/07/1997 Asset Sold: 17/05/2021 Days Held: 165 + 8395 + 137 = 8697 2021 - 1997 / 4 = 6 Leap Days a) 8697 + 6 = 8703 OR b) 8697 + 6 + 1 (Including end date) = 8704
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