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3 April 2020
I bought a tractor 4 years ago, spent some money to maintain and improve it, and sold it this year for $14,500. Do I need to pay income or capital gains tax?
Most helpful response
9 April 2020
@dannnii Most personal assets are exempt from CGT, including your home, car and personal use assets such as furniture. Did you ever use the tractor to produce income?
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