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Ngwenya (Pty) Ltd acquired trading stock from Costly Limited for no consideratio...
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Ngwenya (Pty) Ltd acquired trading stock from Costly Limited for no consideration on 10 January 2025. This trading stock had cost Costly Limited R118 000 and had a market value of R117 000 on the date of the donation. Ngwenya sold this trading stock for R140 000 during February 2025.
Calculate Ngwenya (Pty) Ltd's taxable income for the 2025 year of assessment ended February 2025.
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