- 5 Marks
PT – Aug 2022 – L2 – Q5c – Taxation of Capital Gains
Compute the capital gains tax on shares sold by Fortune in 2020.
Question
Fortune acquired shares in Obolo Company Ltd, a manufacturing company situated in Nsawam, and the following transactions took place:
i) He acquired 100,000 ordinary shares for GH¢115,600 on 14 March, 2020. He also acquired another 220,000 shares on 26 November, 2020 at a price of GH¢1.2 per share.
ii) On 24 December, 2020, he sold 235,000 shares for GH¢305,500 which attracted a sales commission of 1.5% of the sales value to the brokerage firm.
Required:
Compute the capital gains tax.
Find Related Questions by Tags, levels, etc.
- Tags: Brokerage Fees, Capital Gains, Investment, Shares, Taxable Gains
- Level: Level 2
- Topic: Taxation of Capital Gains
- Series: AUG 2022
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