Mr$.$ and Mrs$.$ Chaba, who are married out of community of property, both residents of the Republic, acquired a $1000m^2$ piece of land in the Edenvale area of Johannesburg for R$450000$ on $1$ January $2017$ Their intention was to build their primary residence on this land. Construction of the house commenced on $1$ April $2018,$ and was completed on $1$ November $2019,$ at a cost of R$2500000.$ They moved into the residence on the completion date. From $1$ November $2019,$ Mr$.$ Chaba used the study in the residence as an office for his consulting business, occupying approximately $15\%$ of the residence's total floor space for business purposes. Consequently, each year, Mr$.$ Chaba claimed $15\%$ of the residence's hoiding and upkeep expenses as an income tax deduction

An additional living room was later added to the residence at a cost of R$320000.$ Construction of the living room commenced on $1$ June $2020$ and was completed on $31$ December $2020.$ While the builders were onsite, they also repaired the leaking roof at an extra expense of R$125000.$

The residence was sold for R$4200000$ on $10$ February $2024,$ the day the seller and the buyer signed the purchase agreement. Registration in the purchaser's name only took place on $25$ March $2024.$

$\backslash$table$[[$REQUIRED:$],[\backslash$table$[[$Discuss$,$ supported with calculations, the capital gains tax implications arising from Mr$.$ and$],[$Mrs$.$ Chaba's residence for the $2024$ year of assessment.$],[$Note:$],[-$ Refer to the date of disposal of the residence as per the provisions of the Eght$],[$schedule of the Income Tax Act No $58$ of $1962.]]$ MARKS$]]$