TAX1501 ASSIGNMENT 7 FOR 2ND SEMESTER 2024

ECS1601
ASSIGNMENT 8 FOR 2ND SEMESTER 2024

, Question 1
Not yet answered
Marked out of 1

Flag question

Question text
A capital gain arises when:


a.
A personal use asset is disposed.

b.
Proceeds from the sale of an asset are less than the base cost an asset.

c.
Proceeds from a sale of an asset are greater than the base cost of an asset.

d.
Proceeds from sale of an asset are equal to the base cost of an asset.
Question 2
Not yet answered
Marked out of 1

Flag question

Question text
Which of the following document is unlikely to be required for declaring capital gains tax in a
person’s annual income tax return?



Select one:

a.
Monthly payslip

b.
Calculation of the base cost in respect of each asset

c.
Invoice

d.
Sales agreement
Question 3



Whatsapp Marlvin @ +2763 173 8181