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Lilly Marshall is a resident of the republic of South Africa. She is the owner of various assets and property in the country and has
Lilly Marshall 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. Lilly Marshall has been living in her home which she bought 10 years ago), she has now decided to relocate to another province due to a change in her job. Her residential property was bought at a cost price of R 2 700 000 in January 2011, and it was sold for R 4 500 000 in January 2022. She owned shares in Picachu (Pty) Ltd which she purchased for a cost of R 120 000, she required extra cash to purchase furniture for her new home and decided to sell the shares for R 213 000 in February 2022, she does not deal in the buying and selling of shares. Lilly 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 1 500 000 in June 2016 and sold for R 1 950 000 in October 2021. In addition to the assets that were sold in the current year of assessment she had made a capital loss of R 245 000 from the 2021 year of assessment. YOU ARE REQUIRED: Calculate the taxable capital gain or loss for Lilly Marshall for the 2022 year of assessment
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