Calculate the taxable capital gains of Mr Jones for the 2019 year of assessment.

INFORMATION

Mr Jones has decided to move to England and during the year ending February 2019 sold all of his assets as follows:

- Primary residence in East London sold for R 1 400 000

- This residence was purchased in January 2010 for R800 000

- A 12 metre private fishing boat sold for R320 000

- This boat was purchased in February 2011 for R180 000.

- A flat in Cape Town that was being rented out. This flat was sold for R 900 000 and was purchased in June 2005 for R450 000.

- Ferrari motor vehicle sold for R1 500 000. This was purchased in August 2015 for R2 100 000.

- Mr Jones also won R10 million in the Lotto in January 2019.