Question
PP purchased an asset on 1 April 2010 for R375,000, incurring legal fees of R12,000. PP is resident in Country X. There was no indexation
PP purchased an asset on 1 April 2010 for R375,000, incurring legal fees of R12,000. PP is resident in Country X. There was no indexation allowed on the asset. PP sold the asset on 31 March 2013 for R450,000 incurring transaction charges of R15,000.
Calculate the capital gains tax due from PP on disposal of the asset. (10)
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College Accounting Chapters 1-29
Authors: John J. Wild, Vernon J. Richardson, Ken W. Shaw
2nd Edition
0077398173, 978-0077398170
