Question 2 Are the following: CGT assets, collectables or personal use assets. Are any exempt? (a) An engagement ring which cost $5,000? (b) A second-hand car purchased for $2,000? (c) Shares in BHP? (d) Your home? (e) A painting hung in the foyer of your accounting ?rm? (f) A holiday house at Byron Bay? (g) Your motor home?(h) Your stamp collection which cost $4,000?(i) A horse that you paid $9,000 for?(j) A watch that cost you $490?
Collectables or personal use assets
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