Liam Patel is a 58-year-old South African resident, married out of community of property to Emily. The couple have been married for the past 20 years and live in Johannesburg. During the current year of assessment, Liam sold or donated the following assets:

1) On 01 August 2023, Liam received distressing news from his brother, Miguel, who was facing financial difficulties and sought Liam's assistance. Instead of lending Miguel the money to settle his debt, Liam donated the following to his brother, with no expectation of repayment:

• On 10 August 2023, Liam generously donated gold coins with a market value of R300 000 and an original cost of R120 000, to his brother. Miguel had the option to either sell the coins or use them as collateral to secure a loan. Liam paid R40 000 in donations tax by the end of September 2023 with regards to this donation.

• On 15 September 2023 Liam donated R200 000 in cash to his brother. Liam paid a further R40 000 in donations tax by end of October 2023 with regards to this donation.

2) Liam purchased dividend-yielding shares on 08 November 2020 at a cost of R250 000. He purchased them as an investment. He sold them on 31 December 2023 for R400 000.

3) Liam realised a profit of R15 000 from the sale of a Krugerrand, which he had acquired as a hedge against inflation. He sold it because he required cash to purchase an essential asset.

4) Liam acquired the new Havel H22 vehicle for his long-weekend family trips, purchasing it for R480 000. However, he soon discovered that the vehicle's fuel consumption was less economical than expected. He decided to sell the vehicle, hoping to obtain a reasonable price. Despite his efforts, Liam faced difficulty in securing a satisfactory offer. Eventually, on

15 January 2024, he sold the asset to a general motor dealer for R300 000.

5) On 01 April 2005, Liam purchased a residence for Rl 500 000. He used it solely as a primary residence. He sold this house on 01 February 2024 for R4 800 000. Liam and Emily had decided that it was time for them to downsize to a smaller property and purchased another unit in a Sandton complex for R2 500 000.

Required:

Calculate the taxable capital gain to be included in Liam Patel's taxable income for the 2024 year of assessment. Provide reasons for any nil effects.