Australian taxation base law. Please provide anser

Tax 305 Semester 2, 2018 Exam revision and guide The following two questions are also very good guides for your exam. One question is a capital gains tax calculation and the other question a company tax calculation. QUESTION ONE On 30 June 2018, Kylie sold her investment apartment for $580,000. The apartment had been purchased on 1 March 2005 for $360,000. At the time of acquiring the holiday apartment Kylie incurred $5,000 in stamp duty, $4,000 in valuation costs. On 1 July 200']r Kylie incurred costs of $15,000 in renovating the kitchen in the apartment. 0n 1 February 2009, Kylie spent $40,000 adding a second bathroom to the apartment. At settlement she incurred legal expenses of $2,000 and real estate agent's commission of $8,000 in relation to the sale. a) 0n 1 January 2018 Kylie granted a $10,500 W option to purchase the property for $540,000 to a local property developer. The option lapsed on 31 March 2018. Kylie retained the $10,500. Her solicitor charged her $500 legal fees to prepare the option contract. b) On 25 May 2018 Kylie sold a stamp collection for $25,000. She had purchased the stamp collection for $22,000 in 2001. c) On 16 September 2016 Kylie purchased shares in BI-[P for a total price of $45,000. She sold those shares on 28 May 2018 for $65,000. d) Kylie has a carry forward capital loss of $20,000 from the sale of shares in the 2002-2008 income year. She also has a carry forward capital loss of $5,000 from the sale of a coin collection 'om the 2010-2011 income year. During the 2012-2018 income year Kylie earned $40,000 as a part-time school teacher but she made a loss of $20,000 from the operation of a gymnasium that she owns. The gymnasium has made a taxable prot in every one of the ten years Kylie has owned the gymnasium except the 2017-2018 income year. REQUIRED Calculate Kylie's taxable income and net capital gain for the income year ending 30 June 2018. Provide justication for your calculations using legislative Australian tax law. i Provide full detail explaination for each CGT events and present the calculations. {20 marks}