R03 Personal taxation: Gap Analysis & Assessment Tool

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R03 Personal taxation: Gap Analysis & Assessment Tool

Kevin disposes of a property that has been his main residence for 10 out of the 20 years he has owned it. What proportion of any gain that he makes on the disposal will be exempt?

Because it has not been his main residence for the whole period of ownership, none of any gain will be exempt

Because it has been his main residence for some period of ownership, all of any gain will be exempt

The exempt proportion is calculated as the total gain multiplied by the period of occupation, divided by the total period of ownership

The exempt proportion is calculated as the total gain divided by the period of ownership, multiplied by the total period of ownership

Question 1 of 5

Question Worth : 1 mark

Current Score : 0 [Total available for assessment: 5]

Question Ref. #WL125744.

R03 Personal taxation: Gap Analysis & Assessment Tool

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