TechGears Limited, $(\text{'}$TechGears$\text{'}),$ specialises in developing cutting$-$edge technology solutions for the automotive industry and is listed on the Johannesburg Stock Exchange $($JSE$).$ During the $2024$ year of assessment, TechGears found itself with surplus cash reserves. Recognising the need to maintain shareholder value, the board of directors opted to implement a share buyback program in January $2024.$The share buyback option was given to all shareholders, but only one shareholder, Alex Gray, elected to participate. Both TechGears and Alex Gray are residents of South Africa.Additional information on the share buyback is as follows:In $2018,$ Alex Gray purchased $20\%$ of TechGears shares at a total cost of R$90000.$ The shares were held as a capital asset.TechGears offered Alex Gray R$200000$ for the full repurchase of his shares.R$80000$ of the R$200000$ offered to Alex Gray by TechGears reduced TechGears contributed tax capital.REQUIRED:Calculate all the tax implications of the share buyback transaction for Alex Gray for the $2024$ year of assessment.Show all calculations clearly.