- 5 Marks
PT – July 2023 – L2 – Q5b – Taxation of Capital Gains
Calculate the capital gains tax payable on the sale of a warehouse with associated costs.
Question
Ann sold a warehouse on 13 June 2022 for GH¢640,000. The warehouse was purchased on 14 December 2020 for GH¢328,000 for investment purposes. Ann incurred the following:
| Description | Amount (GH¢) |
|---|---|
| Legal fees | 10,000 |
| Accountant’s fees | 15,000 |
| Transfer tax | 1,000 |
Required:
Calculate the tax payable.
Find Related Questions by Tags, levels, etc.
- Tags: Asset Disposal, Capital Gains, Tax Calculation, Warehouse Sale
- Level: Level 2
- Topic: Taxation of Capital Gains
- Series: JULY 2023
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