Find the amount of donations tax payable

Assignment Help Accounting Basics

Reference no: EM133543635

Question: Phagiso (age 44), a tax resident of South Africa, donated three valuable paintings to his wife Thembi during the year of assessment. The market value of the paintings at the time of the donation were R1 800 000 in total. The paintings were valued at R500 000 10 years ago. You may assume that no other donations were made by Phagiso during the year.The amount of donations tax payable is:

Reference no: EM133543635

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