Problem
Bruno , an Australian resident, had been living in Sydney. He decided to take a new job and transferred to Melbourne. Before moving, he sold the following assets:
Item Purchase Price Sale Price
Large screen Television $9,500 $12,500
Gold jewellery $2,000 $10,000
Refrigerator $12,000 $6,000
Antique Vase $6,000 $ 5,000
Caravan $120,000 $140,000
All assets were purchased on 1 July 2010 and sold on 30 June 2022. The caravan has been used as his home since it was purchased, and he had nowhere else to live.
Task
Explain how you would assess the capital gain on each of these items and then calculate the total amount to be included in his assessable income, if any, from these CGT events?