The relevant index increased by 60 in the period from 1


BCF purchased an asset for $600,000 on 1 September 2004. BCF incurred additional purchase costs of $5,000. Indexation of the cost of BCF's asset is allowed in Country X. The relevant index increased by 60% in the period from 1 September 2004 to 31 August 2011. BCF sold the asset on 1 September 2011 for $1,200,000. BCF incurred selling costs of $9,000. Assume all purchase and selling costs are tax allowable.

How much tax was due from BCF on disposal of its asset?

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Macroeconomics: The relevant index increased by 60 in the period from 1
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