Question
Maggie Hirsch On 26 February 2019 Maggie Hirsch, a dealer in property, agreed to sell a country estate (a property) to his out of wedlock
Maggie Hirsch On 26 February 2019 Maggie Hirsch, a dealer in property, agreed to sell a country estate (a property) to his out of wedlock child, Nelly Tailor, for its market value of R1 000 000. (Maggie Hirsch, held this property as part of his trading stock.) The purchase and sale agreement provided for An initial amount of R40 000 to be paid immediately, and 12 annual instalments of R80 000 each. Nellys mother paid the R40 000 on Nellys behalf 11 days after it was due, this being on 07 March 2019. Indicate in which year or years of assessment the amounts in question may be said to have accrued to the various taxpayers. Brief reasons should be furnished to support your answer
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