7. Capital Gains/(Losses) Robyn advises you that she sold the following assets during the 2022 income year: (a) As previously indicated, Robyn owns a number of Australian shares. On 23 January 2022, she purchased 1,000 Westpac shares under a contract of purchase for $19,370. Brokerage costs separately incurred on the same date came to $581.10. Later on 12 May 2022, Robyn sold 500 of these shares for $12,555. Robyn also paid brokerage fees of $376.65 in relation to the sale on this date. These shares were a non-active asset. Robyn did not receive any dividends from these shares during the period of ownership. (b) (c) (d) On 16 February 2022, Robyn's grandmother, Patricia, aged 67, passed away. Under Patricia's will, Robyn inherited a vacant block of land at Floraville. Patricia initially purchased this block of land on 9 September 1986 for $160,000. As at the date of Patricia's death, the market value of the land was $300,000. On 6 June 2022, Robyn sold the vacant block of land for $320,000 under a contract of sale. Incidental costs of disposal, including legal fees and sales commission totalled $5,250. Settlement occurred on 6 July 2022. The vacant block of land at Floraville was a non-active asset and no income was derived by Robyn from this property during her ownership period. On 20 March 2022, Robyn sold a painting for $15,000. Robyn purchased this painting on 3 July 2009 for $18,000. The painting has hung in the family dining room for many years. There were no incidental costs of acquisition or disposal. On 18 November 2021, Robyn sold Pokemon trading cards for $3,100 which she purchased on 26 August 2015 for $1,500. There were no incidental costs of acquisition or disposal. Robyn informs you that she has two carried-forward (unapplied) capital losses from prior years. Firstly, there is a net collectable capital loss of $250 relating to the sale of a ring in the 2019 income year. Secondly, there is a net capital loss of $4,500 relating to the sale of some AMP shares in 2020. Robyn wishes to minimise her capital gains tax payable wherever legally possible. Assume that Robyn is not eligible to rollover any of part of the capital gain relating to any of the assets.