As a resident, Joe Rogan signed a contract to sell his investment property in the Tas Beach in September 2019. On March 2020, Joe received $950,000 from the buyer when the sale was settled, also he acquired legal fees of $2,500 (inclusive of GST) and a real estate agents commission of $8,500 (inclusive of GST) in relation to the sale.

Joe bought the holiday home in April 1999 for $99,900 and paid $2,000 in stamp duty on the transfer and $1,500 in legal fees. In 2005, Joe hired a builder to build a garage on the property for $15,000. Calculate Joes net capital gain for the current year. Assume he also has a net capital loss from 2019 of $15,000 arising from the sale of shares.

Required:

Would your answer be different if the loss arose from the sale of an antique container