Bill Green is planning to retire from work next financial year and has disposed of some of his investments in order to make a non$-$concessional contribution to superannuation. All of the following investments were owned solely by Bill. Bill sold the following assets:

$($a$)$ An investment apartment. The apartment was purchased on $15$ February $1989$ for $$250,000$ and sold for $$650,000.$ The apartment was located at Byron Bay and used by the family mainly for holidays each year. The contract for sale was signed on $5$ May $2024$ and settlement is to take place on $5$ July $2024.$ The stamp duty and legal fees at the time of acquisition were $$34,000.$ The advertising and estate agent$$s fees at the time of disposal were $$9,000.$ On $18$ July $2011,$ Bill spent $$15,000$ renovating the bathroom in the apartment. Bill rented the apartment out for $2$ years, from $10$ October $2018$ to $10$ October $2020.$ During this period, he derived rent of $$50,000.$ At all other times he kept it for private use by his family. During the period that he owned the apartment he had paid a total of $$135,000$ in interest, rates, and insurance. He had claimed $$15,000$ of the $$135,000$ as a tax deduction for the period it was rented out.

The CPI numbers are:

March $198951\mathrm{.}7$

September $199968\mathrm{.}1$

$($b$)$ Vacant Land. Bill sold vacant residential land originally purchased on $26$ May $1983$ for $$80,000.$ He initially intended to build a house on the land but lacked the finance to do so$.$ The land was sold for $$630,000.$ The contract of sale was entered into on $28$ May $2024$ and settlement is to take place on $30$ August $2024,$

$($c$)$ A painting was purchased by Bill for $$25,000$ on $1$ May $2001.$ The painting was given to his youngest sister as a wedding present on $30$ April $2024.$ At the time of the gift the painting had been valued at $$146,000,$

$($d$)$ Bill used a horse for his personal use and for recreational purposes. Bill had bought the horse on $1$ May $2019$ for $$6,000.$ The horse died and on $26$ March $2024.$ Bill received $$14,000$ under the insurance policy,

$($e$)$ Bill bought ANZ Ltd shares on $2$ June $2023$ for $$65,000.$ He sold those shares on $2$ May $2024$ for $$190,000,$

$($f$)$ Bill also bought a $3-$bedroom unit in Melbourne for $$385,000$ on $3$ March $2012.$ The apartment was his main residence. In $2018$ he was posted to Darwin with his employment for $5$ years and during that time he rented an apartment in Darwin. The Melbourne property was rented out for $5$ years. He returned to Melbourne in $2023$ and lived in his apartment with his family. He entered into a contract for the sale of the property on $15$ June $2024$ for the sum of $$955,000.$ Settlement is due to take place on $1$ August $2024.$

$($g$)$ Bill sold a vintage BMW motor car for $$268,000$ that he had purchased in $1996$ for $$45,000.$ The car was one of only $350$ made in $1952.$

$($h$)$ Bill sold some shares in VHM Ltd for $$26,000$ on $2$ June $2024.$ He had bought the shares for $$64,400$ on $26$ March $2019.$

Bill has capital losses he is carrying forward from previous years of $$16,000$ from the sale of an antique and $$34,000$ from the sale of some shares. Bill is self$-$employed and works under his ABN. He invoiced his clients a total of $$264,800$ for the financial year and this amount excludes GST$.$ He has work related deductions of $$32,640$ for the financial year. He also paid $$25,000$ as a personal superannuation contribution. He paid a total of $$65,000$ as PAYG Instalments during the financial year.

REQUIRED

Calculate the net capital gain or capital loss for Bill for the year ended $30$ June $2024$ and his tax payable.