QUESTION $2($Deferral of acquisition deduction$)($Anti$-$avoidance provisions $($s $23$F$))(10$

marks$)$

A taxpayer sold trading stock for R$2000000$ on the last day of the year of assessment ending

February $2021.$ Half of the consideration will accrue to him on $28$ February $2022,$ and the other

half will accrue on $28$ February $2023.$ He purchased the trading stock on $29$ February $2020$ at a

cost of R$1200000.$

Required

Calculate the effect of the above transactions on the taxable income of the taxpayer for

the $2021,2022$ and $2023$ years of assessment.