Evan Yates, an Australian resident, exchanged contracts for the acquisition of an investment property in Cairns, at market value, on 24 March 1999, paying a deposit of $50,000. Property settlement was deferred until 5 December 2001, when the balance of $750,000 was paid, title transferred, and his name was recorded as the registered proprietor. At the time of settlement, the market value of the property became $920,000. He sold the property on 24 August 2019 for $1.5 million. Required Advise Evan on the CGT consequences regarding timing of a CGT events (why is this important, and apply CGT event to this case), and what CGT calculation methods are available for him. Do not calculate net capital gain.