QUESTION TWO $[30]$

Sandy Silver is a resident of the republic. She both invests and deals in shares.

$$ During the $2023$ year of assessment, from the shares she held as investments, she

earned local dividends of R$90000.$She sold shares in Blue Limited $($held as an

investment$)$ at a profit of R$30000.$ She suffered a loss of R$48000$ on the sale of

shares in Red Limited $($held as an investment$).$ The value of her share portfolio held

as an investment decreased in value by R$95000$ during $2023$ year of assessment.

$$ From the shares held as trading stock she earned local dividends of R$21000.$ She

sold shares in Rye Limited at a profit of R$80000,$ while she suffered a loss of

R$44000$ on the sale of shares in Tennessee Limited $($held as trading stock$).$ The

opening stock value of the shares that she deals with was R$198000.$ These opening

and closing stock values are at the lower of their cost or market value.

In addition to the gains enjoyed and losses suffered on her two categories of shares, Sandy

Silver enjoyed the following gains and suffered losses on the disposal on some of her assets

during the $2023$ year of assessment:

Gains

$$ A gain of R$120000$ on the disposal of a rent$-$producing property that she held as an

investment.

$$ A gain of R$150000$ on the disposal of a $15-$metre yacht that she inherited in July

$2022.$ She immediately disposed of this inherited yacht. She never used it$.$ Its market

value was R$145000$ on the day that she inherited it$.$ She sold it for R$150000.$ The

gain was R$150000$ because it had not cost her anything.

$$ A gain of R$700$ on the disposal of a coin. Sandy Silver is a numismatist $($a collector of

coins$).$ She does not deal in coins. She disposed of this particular coin because she

had recently purchased a duplicate of it$,$ and the duplicate was in a better condition.

$$ A gain of R$900$ on the disposal of a Krugerrand. She had originally purchased this

Krugerrand to be given to a niece as a birthday present. After her niece had

disappointed her, she changed her mind about it being an appropriate birthday

present.

$$ A gain of R$2111000$ on the disposal of her primary residence. It had been

purchased by her for R$489000.$ She sold it for R$2600000.$

$$ A gain of R$25000$ on the disposal of a diamond ring. Sandy Silver and her husband

had separated and then they were divorced. Not wanting to keep the engagement

ring that he had given her, she disposed of it for R$25000.$

Losses

$$ A loss of R$1000$ on the disposal of her cell phone. Sandy Silver had used this cell

phone for both business purposes $($to the extent of $30\%)$ and private purposes $($to the

extent of $70\%).$ Her employer granted her an allowance to cover the cost of the

business use of her cell phone.

$$ A loss of R$63000$ on the disposal of her share of a beach cottage that she and her

ex$-$husband had jointly owned.

Sandy Silver has an assessed capital loss of R$5900$ to bring forward from the $2022$ year of

assessment.

Required:

Calculate the taxable capital gain to be included in her taxable income for the $2023$ year of

assessment.