Maurice is an individual tax resident of Australia for tax purposes. He has the following assets:

His home was acquired on 20 February 1989 for $140 000. The home was never used for any income producing purpose. The estimated market value of the house on 1 March 2018 is $310,000

Shares in FUL Pty Ltd acquired on 10 April 1984 at a cost of $15 000.

Furniture acquired on 20 May 2010 for $10,500.

Yacht acquired on 9 July 2020 for $25,000

Block of vacant land acquired on 20 June 1997 at a cost of $100 000. The estimated market value of the vacant block on 15 May 2021 is $475,000. Maurice subsequently sold the following assets during 2020-2021 (arms length transactions):

His home was sold on 1 March 2021 for $325,000

The FUL Shares were sold on 15 March 2021 for $19,000

The furniture was sold on 1 May 2021 for $5,000

The yacht was sold on 29 June 2021 for $37,000

The block of vacant land was sold on 30 May 2021 for $465,000.

Maurice also has a carry forward capital loss of $12,500 from the sale of an antique drumkit and a carry forward capital loss $5,000 from the sale of underperforming shares in an earlier income year. Maurice is not a share trader. Maurice has also incurred interest expenses on the vacant block of land of $110,000 over the time he owned the vacant block. He never used the vacant block for any income producing purpose.

Required: With reference to relevant legislation and cases calculate the net capital gain or loss as applicable for Maurice for the 2020/21 income year. You must show all possible methods to calculate capital gains (you must reference each step in the process to the relevant legislation. The numbers in the calculation will not be sufficient) and identify reasons why inclusion/exclusion of all capital gains tax assets.