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Ava, an Australian tax resident, acquired the following assets on the dates indicated, which were all sold on 30 June 2021 as she was planning

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Ava, an Australian tax resident, acquired the following assets on the dates indicated, which were all sold on 30 June 2021 as she was planning to leave Australia and volunteer on some charity work in Africa. 1. On 23/6/89, acquired a rental house in Melbourne for a purchase price of $250,000. Ada also built a small flat in the backyard costing $80,000 on 22/7/95. The house was sold for $580,00 2. On 1/7/89, acquired antique jewelry for $12,000. The sales proceeds were $17,000. 3. On 12/6/98, purchased a car for $75,000. It is sold for $15,000. 4. On 23/6/84, purchased a holiday home in Bowral for $230,000. This is sold for $780,000. 5. On 25/9/97, purchased an apartment for $400,000 in Sydney. She had been living in the apartment by herself until 30 June 2021 when it was gifted to her relative. The market value at the time was 1,500,000. 6. On 2/2/20, purchased one bitcoin at $55,000. It was sold for $45,000 Required 1 Calculate the minimum capital gains/losses in each of the above transactions (12 marks). 2. Calculate the overall taxable capital gains /losses Ava needs to include in her tax return for the 2020-21 tax year

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