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QUESTION 3 Mrs Black Purchased shares of R10 000 on 1 October 2016. On 31...

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QUESTION 3 Mrs Black Purchased shares of R10 000 on 1 October 2016. On 31 August 2020 she sells the shares for R25 000. 0 If the sale gives rise to a receipt or accrual which is not of a capital nature the full selling price of R25000 falls into Mrs Black's gross income. She will be allowed a deduction of the cost of the shares (R10 000) and will be taxed on R15 000 () If the sale gives rise to a receipt or accrual which is of a capital nature the R25 000 will not be included in gross income. Required: (a) Calculate a portion of the capital gain of Mrs Black's taxable income in terms of the provisions of the Eighth Schedule. [10]

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