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Barry is an Australian resident individual taxpayer entity. In the 2020-21 income year, he receives...

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Accounting

Barry is an Australian resident individual taxpayer entity. In the 2020-21 income year, he receives $500,000 from the disposal of an investment property purchased in September 2002, which he originally acquired for $200,000. Barry has capital losses from previous taxation years of $30,000 What is barrys net capital gain in the 2020-21 year?

$135,000

$300,000

$270,000

$120,000

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