FastTrack Logistics $($Pty$)$ Ltd $($FTL$)$ is a leading transportation services company, specialising in nationwide deliveries. FTL has a February financial year$-$end.

On $1$ October $2021,$ FTL expanded its fleet by purchasing a new delivery truck for R$1500000$ to meet increasing demand. However, after a few years of service, the truck accumulated high mileage and showed signs of wear and tear. FTL decided to sell the truck and invest in a newer model to maintain its commitment to reliable and efficient deliveries.

For the $2022,2023$ and $2024$ years of assessment, FTL claimed a wear$-$and$-$tear allowance under section $11($e$).$ SARS allows delivery vehicles to be written off over three years.

On $31$ January $2024,$ FTL sold the delivery truck to SwiftTrans Logistics $($Pty$)$ Ltd $($STL$)$ for R$200000.$

REQUIRED:

Calculate the income tax implications for FastTrack Logistics $($Pty$)$ Ltd for the $2024$ year of assessment due to the sale of the delivery truck to SwiftTrans Logistics $($Pty$)$ Ltd$.$ FTL and STL are not connected persons.

Support your answer with references to the Income Tax Act.

Ignore any capital gains tax and VAT implications.