100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
LML4804 Assignment 3 (COMPLETE ANSWERS) Semester 2 2024 (803378) - DUE 25 September 2024 ; 100% TRUSTED Complete, trusted solutions and explanations. R44,88   Add to cart

Exam (elaborations)

LML4804 Assignment 3 (COMPLETE ANSWERS) Semester 2 2024 (803378) - DUE 25 September 2024 ; 100% TRUSTED Complete, trusted solutions and explanations.

 6 views  0 purchase

LML4804 Assignment 3 (COMPLETE ANSWERS) Semester 2 2024 (803378) - DUE 25 September 2024 ; 100% TRUSTED Complete, trusted solutions and explanations.

Preview 2 out of 12  pages

  • September 11, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:
All documents for this subject (14)
avatar-seller
LightAcademy
, QUESTION 1 (CAPITAL GAINS TAX) Ms. Kru, a South
African resident worked for O Insure (Pty) Ltd (“O Insure”) as a
specialist for 15 years. As a result of the Covid-19 pandemic that
hit the world, O Insure decided to retrench her team including
Ms. Kru. She was given a severance package of R5 million. Ms.
Kru is married in community of property to Lolo and they stay
in Blue Halley, Pretoria They bought the house in 2011 for R900
000. They also own a holiday house in Hermies, Western Cape
which they bought in 2012 for R800 000. The couple also own a
BVM X and a Range Sports Car that Ms. Kru bought for Lolo as
a graduation present. As a result of the retrenchment, the couple
decided to downsize their lifestyle. They therefore embarked on
the following transactions: • They appointed REX Real Estate
agents at a cost of R200 000 to sell the house in Blue Halley for
R2,5 million; replaced all bathrooms’ taps with gold plated ones
at a cost of R30 000; appointed Fix It (Pty) Ltd (“Fix it”) to fix
the leaking swimming pool at a cost of R10 000; • They also
sold their holiday house in Hermanes for R2 million; • They sold
Range Sports Car for R1 million; • They sold their Kruger
Rands for R500 000 WHAT IS REQUIRED OF YOU: Without
calculating the capital gain of Ms. Kru, discuss the capital gains
tax principles applicable in the scenario. [25 marks]

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying this summary from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller LightAcademy. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy this summary for R44,88. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

73314 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy summaries for 14 years now

Start selling
R44,88
  • (0)
  Buy now