**AUSTRALIA BASED ANSWER ONLY**

John purchased a holiday home in February 2012 for $340,000. After renting the house out for 3 years, he moved into the house in February 2015 and the house became his main residence for the next 7 years.

He sold the house in February 2022 for $560,000. He also had prior year net capital losses of $4,000 and current year capital losses of $6,000. He has chosen to apply the CGT discount to the capital gain.

John is planning to apply the partial main residence exemption first, to reduce the capital gain received on disposal of the house. Calculate John's capital gain/losses