Juliana, an Australian tax resident, works full time as an accountant in a mid-tier accounting firm.In this income year, she had the following transactions:

1. She derived salary of $130,000.

2. In March this year, Juliana inherited 1,000 shares in WOW from her mother who passed away in

that month. She sold half of the shares in April for $37 per share. Her mother purchased the shares for $24,000 in 2004. The market value of the shares at the time of her mother's death was $35 per share.

3.Juliana also inherited a piece of vacant land from her mother in March.She sold the land in June for $1,900,000.Her mother acquired the land in 1978 for $300,000 as an investment. The market value of the land at the time of her mother's death was $1,800,000.

4. Juliana sold her parcel of 400 BHP shares for $35 / share. Juliana had purchased the BHP shares in May 2008 for $48 / share for investment purposes. Juliana paid brokerage fees of $20 on the sale and $10 on the purchase of those shares. Juliana has no other income or deductions.

Compute her taxable income for this income year showing

full reasons and workings. You should cite all relevant legislative sections, case law and rulings (if any).