Question
labatha sold the following assets during the 2020-21 income year. The details of each sale are: Shares Date of Purchase Cost of Purchase Date of
labatha sold the following assets during the 2020-21 income year. The details of each sale are:
| Shares | Date of Purchase | Cost of Purchase | Date of Sale | Sale Proceeds |
| Motor vehicle | 14 May 2017 | S12.000 | 1 February 2021 | S4,000 |
| Neck bracelet (jewellery) | 28 June 2010 | $1,400 | 12 May 2021 | S400 |
| MNL Ltd shares | 5 March 2019 | 524,000 | 27 May 2021 | 544,000 |
| ABC Ltd shares | 30 April 2020 | S37.000 | 10 May 2021 | $25,000 |
labatha does not have any net capital losses (in previous income years).
From the above, which of the following statements is most correct in respect to labatha's tax position for the 2020-21 income year?
O a. Net capital gain of S4,000.
O b. Net capital gain of $3,500.
O c. Net capital gain of S8,000.
O d. Zero net capital gain and Zero net capital loss.
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