What amount must abdul include in his assessable income

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Question - In May 2007, Abdul purchased a house in Noosa for $100,000. In November 2019, Abdul transferred the block of land to his adult daughter as a gift. Although his daughter didn't pay anything for the block of land, at the time of transfer it was worth $300,000. Throughout the period Abdul owned the house, a tenant rented the lower level of the house, which represented 30% of the house. As a housewarming gift, Abdul gave an antique flower vase to his daughter that was worth $800 and which had been acquired for $400 in October 2009. What amount must Abdul include in his assessable income from the above transactions?

Reference no: EM133015063

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