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4 . 1 Sandy Mabuza is a resident of the republic of South Africa. She is the owner of various assets and property in the
Sandy Mabuza is a resident of the republic of South Africa. She is the owner of various assets and property in the country and has made the decision to sell a few of her assets. Sandy has been living in her home in Ballito which she bought years ago. She has now decided to relocate to Cape Town due to a change in her job. Her residential property was bought at a cost price of R in January and it was sold for R in January She owned shares in Mochachos Pty Ltd which she purchased for a cost of R she required extra cash to undertake renovations in her home and decided to sell the shares for R in February she does not deal in the buying and selling of shares. Sandy has been having problems with the payment of rental from her tenant in a flat that she rents out, she has therefore decided to sell this flat. The flat was purchased for R in April and sold for R in October In addition to the assets that were sold in the current year of assessment she had made a capital loss of R from the year of assessment. Required: Calculate the taxable capital gain or loss of Sandy for the year of assessment. Precious Mabuza, who is the sister of Sandy is a resident of the Republic. She is years old and she resigned from her employment on September She received a lump sum from her pension fund of R She used R of this lump sum to pay off her car and transferred the remaining balance into a pension preservation fund. Required: Compute the tax payable on her current lump sum.
Sandy Mabuza is a resident of the republic of South Africa. She is the owner of various assets and property
in the country and has made the decision to sell a few of her assets. Sandy has been living in her home in
Ballito which she bought years ago. She has now decided to relocate to Cape Town due to a change in
her job. Her residential property was bought at a cost price of R in January and it was sold
for R in January
She owned shares in Mochachos Pty Ltd which she purchased for a cost of R she required extra
cash to undertake renovations in her home and decided to sell the shares for R in February
she does not deal in the buying and selling of shares. Sandy has been having problems with the payment of
rental from her tenant in a flat that she rents out, she has therefore decided to sell this flat. The flat was
purchased for R in April and sold for R in October In addition to the assets
that were sold in the current year of assessment she had made a capital loss of R from the
year of assessment.
Required:
Calculate the taxable capital gain or loss of Sandy for the year of assessment.
Precious Mabuza, who is the sister of Sandy is a resident of the Republic. She is years old and she
resigned from her employment on September She received a lump sum from her pension fund of
R She used R of this lump sum to pay off her car and transferred the remaining balance into
a pension preservation fund.
Required:
Compute the tax payable on her current lump sum.
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