Question: ndicate the INCORRECT statement: Question 21Answer a. With the disposal of an asset, the proceeds can result in Income tax or CGT implications, depending on

ndicate the INCORRECT statement: Question 21Answer a. With the disposal of an asset, the proceeds can result in Income tax or CGT implications, depending on the nature and intention of the transaction. b. Normal tax consists of Income Tax only. c. CGT only occurs upon a disposal or deemed disposal of a capital asset. d. The only asset that falls outside of CGT rules is cash in South African currency

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