Question 2 Are the following: CGT assets, collectables or personal use assets. Are any exempt? (a) An engagement ring which cost $5,000?

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 firm?

(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?

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