Question
Winnie Buthelezi is a resident of the Republic and has an assessed capital loss of R12000brought forward from the prior year of assessment. During the
Winnie Buthelezi is a resident of the Republic and has an assessed capital loss of R12 000 brought forward from the prior year of assessment. During the current year of assessment Winnie Buthelezi suffered a further loss of R95 000 on the sale of her domestic motor car. Winnie made profits as detailed below, on the sale of the following assets:
R80 000 from a rent producing property,
R7 000 from dividend-yielding shares,
R1 000 from a kruger rand,
R2 009 000 from her primary residence. It had cost her R990 000, and she sold it for R2 999 000,
R5 000 from units in a real estate investment trust, and
R20 000 from a six-meter yacht.
Winnie does not deal in the above assets.
YOU ARE REQUIRED to determine Winnie Buthelezi’s taxable capital gain for the current year of assessment.
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