Jovanna aged 65 years lived in a rental in Melbourne CBD and planned to retire at Port Fairy. However, she subsequently decided her ailing sister in Italy needed her help. Accordingly, Jovanna decided to sell everything other than some personal items like clothing and other non valuable items, which she kept at her Melbourne rental property. When she sold all her assets over a period of 9 months, she received in excess of $1.2m. Jovanna is unsure of her CGT obligations and wants to ensure she has attended to her taxation obligations before returning home. She is concerned she might have to include something in the order of more than a half a million dollars from all of her capital gains/losses. You have established the various assets sales having consulted Jovanna. REQUIRED Support your answers and calculations with the applicable legislation in regard to both parts of the question: Part 1 a) Why do the assets need to be considered under CGT? (1 mark)