taxation law 666

Harold, a resident taxpayer, disposed of the following assets during the year ended 30 June 2021: Asset Cost price Date acquired Date sold Sale price $ $ Vacant Land 220,000 September 2020 June 2021 225,000 Holiday House 122,000 July 1985 May 2021 355,000 Grand Piano 13,500 July 2004 August 2020 12,000 ABC shares 6,000 February 2002 January 2021 13,000 DEF shares 5,900 December 1999 November 2020 6,400 Diamond Ring 390 August 2004 November 2020 1,800 Artwork 700 March 2000 December 2020 4,000 GHI shares 3,500 May 2007 July 2020 2,300 Harold has capital losses carried forward from 2019/2020 of $3,000 on collectables and $4,000 on shares. Required Calculate Harold's minimum net capital gain for the year ended 30 June 2021 and capital losses, if any, to be carried forward to 2021/2022. (10 marks)