nkeleviolet4 nkeleviolet4

12-05-2024
Computers and Technology

Answered

Ntabeni is 50 years old. During the current year he sold his second home for R8 000 0000. He bought this home 5 years ago for R5 000 000. The intention was to develop it to be an investment property, but they ended up using it as a holiday home. The estate agent's commission on the sale was 5% of the selling price. He also did improvements amounting to R300 000. YOU ARE REQUIRED to determine the base cost of the of the property at the point of sale: a. R2 300 000 b. R5 000 000 c. R5 700 000 d. R5 300 000

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