This is a question that requires an essay style answer. Bert, an Australian Resident, was forced to relocate to Sydney because of his sick parents. Before moving, he sold the following assets: Item Purchase Price Sale Price Lounge Chair and Sofa set Diamond Jewellery Main Residence Rental Apartment $10,000 $8,000 $1,000 $5,000 $1,900,000 $2,400,000 $250,000 $310,000 All the assets were purchased on 1 September 2016 and sold on 30 June 2020. Required: Explain the tax law applicable to these CGT events and calculate the total amount to be included in his assessable income, if any. Your answer must refer to the relevant legal rules as well as setting out the calculations.