limit on this Peter's mother bought her home in January 1985 for $75,000. Sadly, in July of 2018 she unexpectedly passed away leaving the property to Peter. At the time Peter received the house, its market value was $300,000. If Peter decides to sell the property in the future, the capital gain will be calculated as which of the following? O Capital Proceeds less $75,000. There will be no capital gain as the property was acquired pre-CGT. O Capital proceeds less $300,000. O A roll-over provision applies to defer the capital gain. Next