magubanebuliswa magubanebuliswa

19-05-2024
Business

Answered

Freddie Phillips sold his primary residence for R4000 000 during the current year of the assessment. He bought the property on 1 October 2003 for R1 200 000. After buying the home he installed a swimming pool at a cost of R57 000 and repainted the interior for R40 000. The capital gains the sale of the property is: a. R743 000 b. R2 800 000 c. R703 000 d. R2 703 000

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