Thursday, 28 April 2016

Cima F1 Exam Question No 49

Question No 49:

YZ, incorporated in Country X, purchased a non-depreciable asset for $45,000 on 1 January 2005. YZ incurred additional purchase costs of $5,000.
The asset was eventually sold for $110,000 on 31 December 2013. The indexation factor from 1 January 2005 to 31 December 2013 was 35%.
The capital gains tax that YZ is due to pay on the disposal of the asset is:


Answer: B

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