Gary is a fund manager with Laverton Pty Ltd (Laverton). His strategy is to buy shares in companies that have a low price-earnings ratio, and when the shares rise in price, he switches his investment to different companies. In June 2010, Laverton invested 1 million shares in the Big Brothers Ltd at $6 per share. In 2012 Laverton bought a parcel of 3 million shares in Mount Bullers Ltd at a price of $8 each. In June 2021, Big Brothers Ltd's shares are listed at $10 each, and Gary decides it is time to sell. Nevertheless, Mount Bullers Ltds shares are now worth $6 each. Gary decides to instruct the fund to sell the 1 million shares in Big Brothers Ltd at $10, as well as all the shares in Mount Bullers Ltd at $6 each. Three months later, Gary asks the analysts at the Laverton Pty Ltd to analyse all financial documents of Mount Bullers Ltd including the profit and loss account, the balance sheet and a new prospectus just issued by Mount Bullers Ltd. Based on a favourable report concerning the prospects of Mount Bullers Ltd, Gary instructs Laverton Pty Ltd to purchase 2.5 million shares in Mount Bullers Ltd at $5.50 each. Required: Advise the tax implications of the disposal of the shares on 30 June for the 2020-21 income year. You must include the relevant legislation when possible.