Mr A built his house there 10 years ago. Mr A was left the block of land (no house or other buildings) at 1 Outback Lane when his grandmother died on 1 May of 1983. On her date of death the land was was valued at $200,000. Mr A house cost him $300,000 to build. Mr A paid $12,000 in interest on money he borrowed to finance the build. In 2012, Mr A had to pay $4,000 in legal fees when the government unsuccessfully tried to compulsorily acquire part of his property on which his house was built.
On 1 November 2015,Mr A decided to sell the house and land at 1 Outback Lane for $1.1 million to Jeremy What will be the capial Gain TAx?