Question: QUESTION 3 ( 2 0 Marks ) Anne, 5 8 Years old, a resident of South Africa, is a sole proprietor FG Toys. She disposed
QUESTION Marks Anne, Years old, a resident of South Africa, is a sole proprietor FG Toys. She disposed of a few items in and was unsure on how to calculate the capital gains on the disposal and requested assistance on the calculations. Bought a home for R on January She spent an amount of R renovating. Other costs incurred: Rates and taxes R Transfer costs R She sold it on the December for R as she was relocating. She acquired shares for R as longterm investment in and decided to dispose of the shares for R in December Anne resigned from her employment on October and started her own business. She moved furniture with cost price of R and a market value of R from her home to her office. Anne bought a skiboat m for R on November She disposed of it for R on November She bought Krugerrands in for R and sold it on September The market value at the date of sale was R She Invested in R in a month fixed deposit on December The market value on the date of maturity is R Capital loss as at February is R Required: Calculate the taxable gain for the year ended February
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