QUESTION $2(9$ marks, $11$ minutes$)$

Mrs Gummy Bear $($a South African resident$)$ died on $15$ February $2024.$ According to her last will and

testament all her assets were to be left to her best friend, Mrs Jelly Tots. Gummy had the following assets

in her estate:

Primary residence, situated in Midrand, Johannesburg

The house was valued at R$2,4$ million at date of death. Gummy purchased this house in $2015,$ at

which date the market value was R$1250000$ and the estate agent's valuing fee amounted to

R$2000.$

Boat

Gummy inherited a $12-$metre boat from her uncle when he died in $2020.$ The value of the boat

when the uncle died was R$4,2$ million. The uncle had acquired the boat in $2017$ at a cost of

R$3$ million. The value of the boat at the date of Gummy's death was R$6$ million.

Calculate the taxable capital gain or loss at the date of death of the deceased,

Mrs Gummy Bear.