Jessica runs a small business providing consulting services. She has a number of business assets.
Jessica decided to sell a parcel of land she owns and entered into a contract on 2 May 2020. The contract settled on 13 August 2020. In what income year should Jessica report this CGT event?
- In the 2019-20 income year, when she enters into the contract
- In the 2020-21 income year, when the contract settles
Jessica is now reviewing the dates she acquired some of her assets. She created a brokerage account on 8 September 2020 so she could buy ASX listed shares. She used the account to buy shares in another company on 10 September 2020. She sold them shortly afterwards, on 22 September 2022. When did Jessica acquire the shares?
- 8 September 2020
- 22 September 2020
- 10 September 2020
In 2018, Jessica was looking to buy more land and viewed land for sale on 1 March 2018. She entered into a contract to buy a parcel of land on 12 March 2018 and it was settled on 14 May 2018. When did she acquire the land?
- 14 May 2018
- 1 March 2018
- 12 March 2018
