This is a question that requires an essay style answer.

RUDY , an Australian resident, had been living in Sydney.
He decided to take a new job and transferred to Newcastle.
Before moving, he sold the following assets:

Item Purchase Price Sale Price

King Size Bed $4,000 $2,500

Gold jewellery $5,000 $10,000

Flat Screen Television $1,000 $ 1,500

Antique Vase $4,000 $ 5,000

Yacht $40,000 $60,000

All assets were purchased on 1 July 2010 and sold on 30 June 2022. The yacht has been used as his home since it was purchased, and he had nowhere else to live. Because of the pandemic and the shortage of accommodation he was surprised to sell it for more than it cost.

Required:

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?

Your answer must refer to the relevant legal rules as well as setting out the calculations.