Assume the following taxpayer information: The taxpayer is a South African manufacturing company (not asmall business corporation as defined) with a 31 March 2022 year of assessment. Calculate the taxablecapital gain/(loss) for the current year of assessment taking the BELOW information into account.Information pertaining to assets disposed of during the year:Events RDate disposed ofCapitalgain/(loss)Machine 1-disposed21 October 202165 000Machine 2- disposed15 February 202217 500Building - disposed18 August 2021(22 500)Note: There is an assessed capital loss from 2021 year of assessment of R57 000.O a R48 000O b. R20 400OC R2 40034*B135KRR(t a891015 16 1722 23 242930 3136 37 38Finish attempt22°C Maity Ty

Capital Gains/ Losses: When a company or individual sold or disposed off the capital assets more or…

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

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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