Page 47 - P6 Slide - Taxation - Lecture Day 1
P. 47
Example – Pre-valuation (profit)
In 2015, Mr A disposes of an asset that he
acquired in 1985 for proceeds of R130 000. He
no longer has a record of the expenditure
incurred on the asset. Its market value on 1
October 2001 was R25 000 and he had incurred
expenditure of
R2 000 on the asset after 1 October 2001.
Calculate the base cost of the asset.
