During the current year of assessment Fellen sold her primary residence for R7 500 000. It was purchased on 1 June 2006 for R3 780 000. She incurred commission costs on the sale of property of R67 500. YOU ARE REQUIRED to calculate the taxable capital gain to be included in Fellen’s taxable income because of the sale of the primary residence. You may assume that she did not sell any other capital asset.a.R1 652 500b.R1 612 500c.R3 652 500d.R645 000

Daniella sold two assets during the current year of assessment. She had an aggregate capital gain of R200 000. She has a carried forward assessed capital loss R45 000. YOU ARE REQUIRED to calculate Daniella's taxable capital gain that will be included in the taxable income calculation for the current year of assessment.a.R155 000b.R200 000c.R115 000d.R46 000

Visagie is 36 years old. During the current year of the assessment, he sold his primary residence for R680 000. He bought the house in 2007 for R320 000. You may assume he did not sell any other capital assets during the current year of assessment and that he did not have any assessed capital loss brought forward from the prior year. YOU ARE REQUIRED to calculate the taxable capital gain.a.R360 000b.R320 000c.R0d.R128 000

Contreras acquired his primary residence after 1 October 2001 for R900 000. During the current year of assessment, he sold it for R2 900 000. He used his primary residence 20% for trade purposes and claimed 15% of cost for income tax purposes. Which of the following statement is incorrect regarding the declaration of the sale of his primary residence in the income tax return?a.The capital gain attributable to the sale of the primary residence is R1600 000b.The capital gain attributable to trade is R400 000.c.The capital gain attributable to trade can be reduced by the annual exclusion of R40 000 available to natural persons.d.The primary residence exclusion that can be claimed R2 000 000.

Leeanda is 56 years old. During the current year she sold her property. The taxable capital gain was correctly calculated to be R148 236. This taxable capital gain will be included in:a.Taxable incomeb.Net incomec.Incomed.Gross incomeClear my choice

Kelley was born on 5 October 1984 in Lima. During the current year of assessment, she sold her holiday home for R7 000 000. The selling price includes state agent commission of R700 000 paid to the estate agents. Kelley agreed to repay the purchaser R2 200 000 once the transaction is complete. The transaction was completed before the year of assessment. YOU ARE REQUIRED to determine the proceeds.a.R6 300 000b.R4 800 000c.R2 200 000d.R7 000 000Clear my choice