Part B (10 marks) During the financial year of 2020/21, Paul made the following capital gains and capital losses.

Capital gain of $30,000 on the sale of his shares in ABC Co (assume this is not a discount capital gain)

Capital gain of $20,000 on the sale of his shares in XYZ Co (assume this is a discount capital gain that is eligible for a 50% discount)

Capital loss of $8,000 on the sale of his apartment.

Prior year capital loss of $4,000.

A) What is Pauls net capital gain under s102-5? (5 marks)

B) Is Capital Loss tax deductible? Justify your answer. (5 marks)