LAWS20060 TAXATION LAW OF AUSTRALIA INDIVIDUAL ASSIGNMENT TERM 1

QUESTION 3

b) On the 11th January 2018, in exchange for the sum of $40,000 John granted to Farm Ltd, an option to purchase his 100-acre farm just outside Adelaide for the sum of $800,000. John had purchased the farm 10 years ago.                                                                                          (4 marks)