1. John, a South African resident, purchased a property for R2,000,000 on 1 March 2023. He did not pay any transfer duty at the time of purchase. On 1 October 2024, 18 months after the purchase, John decides to settle the transfer duty. According to the transfer duty rates as of 1 March 2023, John calculates the duty to be R58, 075.00. Given that he is 12 months late beyond the 6-month deadline, and the penalty rate is 10% annually on the purchase price for each month missed after the deadline, what is the total amount John must pay to SARS, including both the transfer duty and the penalty? Choose the correct option. R58, 075.00 as transfer duty and R200,000.00 as a penalty, totalling R258,075.00. R58, 075.00 as transfer duty and R20,000.00 as a penalty, totalling R78,075.00. R58, 075.00 as transfer duty and R240,000.00 as a penalty, totalling R298, 075.00. R58, 075.00 as transfer duty and R300,000.00 as a penalty, totalling R358, 075.00. None of the above

Sarah purchased a warehouse for £420,000 in September 2020. She sold a retail premises to Bettina for £152,000 in November 2020. How much Stamp Duty is payable on these transactions and by whom? £10,540 by Sarah O £21,000 by Sarah and £3,040 by Bettina O £10,500 by Sarah and E40 by Bettina O £24,040 by Sarah

On 1 December 2016 Dheshnie Singh, a resident of the republic, purchased a primary residence for R2 300 000. She used the granny flat portion of her primary residence as her consulting rooms. (In other words, she traded from a portion of her primary residence. The granny flat portion of this primary residence comprises 20% of the total primary residence. She lived in this primary residence, and practiced from its granny flat, for the 14 month period from 1 December 2016 until 31 January 2018. On 1 February 2018 she sold her primary residence for R4 000 000. Required Determine the capital gains tax consequences that result from the purchase and sale by Dheshnie Singh of her primary residence.

Jim, a US individual, purchases a certain rental real estate property in 2014 and leases it out producing a taxable loss of ($10,000) each year from 2014-2017. Jim has no other sources of income during any of these years. Jim sells the real estate in 2017 recognizing only a $30,000 gain on the sale. How much income (loss) does Jim report on his tax return in each of the tax years?     If Jim is a real estate professional:                                  2014 ___________    2015   ____________   2016 ____________         If Jim is a not real estate professional:                                  2014 ___________    2015   ____________   2016 ____________