Jill had made a capital loss of $1,000 in the 2017-2018 income year and had no capital transactions until now. Jill sells her holiday house on 1 January this year for $500,000. She bought the property on 1 January 2010. During her ownership period: - she used the property as a holiday house for the first 2 years; - then made it available for renting for the next 8 years. During these 8 years, the property was vacant for a total of 2 years. She has provided you with the following information:

Description Date Amount Purchase of property 1 January 2010 $250,000 Deposit on signing of contract 1 January 2010 $50,000 Balance on settlement 11 March 2010 $450,000 Stamp duty on acquisition 11 March 2010 $5,000 Legal Fees on acquisition 11 March 2010 $1,000 Council rates p.a. 1 January each year $500 per year Real estate agent's commission on 1 January this year $2,000 sale Costs of advertising the sale 1 January this year $1,000