ass corporation as defined) with a 31 March 2022 year of assessment. Calculate the tax inv(loss) for the current year of assessment taking the BELOW information into account. ation pertaining to assets disposed of during the year: Events D Date disposed of Capital gain/(loss) me 1-disposed 21 October 2021 65 000 ne 2-disposed 17 500 15 February 2022 18 August 2021 ng-disposed (22 500) There is an assessed capital loss from 2021 year of assessment of R57 000. 148 000 R20 400 R2 400 RRR
ass corporation as defined) with a 31 March 2022 year of assessment. Calculate the tax inv(loss) for the current year of assessment taking the BELOW information into account. ation pertaining to assets disposed of during the year: Events D Date disposed of Capital gain/(loss) me 1-disposed 21 October 2021 65 000 ne 2-disposed 17 500 15 February 2022 18 August 2021 ng-disposed (22 500) There is an assessed capital loss from 2021 year of assessment of R57 000. 148 000 R20 400 R2 400 RRR
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter8: Property Transactions: Capital Gains And Losses, Section 1231 And Recapture Provisions
Section: Chapter Questions
Problem 28P
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Question
Transcribed Image Text:Assume the following taxpayer information: The taxpayer is a South African manufacturing company (not a
small business corporation as defined) with a 31 March 2022 year of assessment. Calculate the taxable
capital gain/(loss) for the current year of assessment taking the BELOW information into account.
Information pertaining to assets disposed of during the year:
Events R
Date disposed of
Capital
gain/(loss)
Machine 1-disposed
21 October 2021
65 000
Machine 2- disposed
15 February 2022
17 500
Building - disposed
18 August 2021
(22 500)
Note: There is an assessed capital loss from 2021 year of assessment of R57 000.
O a R48 000
O b. R20 400
OC R2 400
34
*B135
KRR
(t a
8
9
10
15 16 17
22 23 24
29
30 31
36 37 38
Finish attempt
22°C Maity Ty
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