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(a) As previously indicated, Billy owns a number of Australian shares. On 9 November 2018, he purchased 10,000

Horizon Oil Ltd shares under a contract of purchase for $7,200. Brokerage costs separately incurred on the same date came to $60. Later on 18 May 2019, Billy sold 8,000 of these shares for $7,680. Billy also paid brokerage fees of $40 in relation to the sale on this date. These shares were a non-active asset. Billy did not receive any dividends from these shares during the period of ownership.



How much capital gain from shares.

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