Dave is your client and has come to you to prepare his tax return. During the 2018-19 financial year, Dave disposed of the following assets: a. A two-storey residence at St Lucia in which he acquired in May 1991. Dave has lived in the property for entire period he has owned it. He paid $170,000 to purchase the property and received $850,000 on 27 June of the current tax year, after the real estate agent deducted commissions of $15,000. b. Dave sold vacant residential land originally purchased on 16 June 1984 for $100,000. He initially intended to build a house on the land and rent the property. The land was sold for $500,000. The contract of sale was entered into on 28 January 2019 and settlement is to take place on 30 August 2019. c. A painting was purchased by Dave for $450 on 1 May 2009 and sold for $30,000 on 30 March 2019. d. He purchased a luxury motor cruiser that he has moored at the Manly Yacht club in late 2004 for $110,000. He sold it on 1 April 2019 to a local boat broker for $40,000. (e)(e) Dave bought ANZ shares on 2 June 2017 for $45,000. He sold those shares on 2 May 2019 for $90,000. Dave has capital losses he is carrying forward from previous years of $25,000. Dave also received a salary of $90,001 from his position as the manager of a small engineering consulting practice. In addition, Dave won a boat valued at $35,500 from a winning raffle ticket. Required: Calculate Dave's tax payable for the year ending 30 June 2019. Provide justification for your calculations using legislation and case law.