Page 14 - F6 - Capital Gains Tax - Assets & Disposals
P. 14
Example
Annabel (Pty) Ltd purchased a used manufacturing
machine for R500 000 (excluding VAT) on 1 November
2014 and brought it into use in a process of
manufacture on that date. Annabel's year-end is 31
December. In May 2015 the machine was sold for R650
000 (excluding VAT) and not replaced. The machine
was used in a process of manufacture until May 2015.
Calculate the taxable capital gain on the
machine for the year ended 31 December 2015.
