Reference no: EM132670291

Question: John, an Australian resident, is an employee of the Commonwealth Bank and sells a number of assets during the income year. The transactions are as follows:

1. A vintage motorcycle for $25,000 after purchasing it in 2000 for $5,000 and restoring it to its original condition.

2. 500 shares in Ramsey Healthcare for $76.50 per share after buying them for $15.00 per share in 2010.

3. 1200 units in a unit trust for $10.50 per unit after buying them for $12.50 per unit in 2009.

4. A long-term investment property in Glenelg which he purchased for $40,000 in 1984 and recently sold for $1.2m. To achieve this price, he paid a highly rated real estate agent a commission of 4%.

What is John's net capital gain/loss for the income year if he has no capital losses from earlier years?