Papa Dekey purchased a house in Madina area of Greater Accra Region in year 2010 for GH¢400,000. The acquisition expenses incurred by the company amounted to GH¢50,000.
In June 2019, Papa Dekey sold the house for GH¢700,000 while the incidental expenses incurred were as follows:
Papa Dekey also sold for GH¢1,000,000 in September 2019, Ghana Government Securities which cost GH¢800,000 in the year 2010. The incidental selling expenses amounted to GH¢50,000 in respect of Government Securities.
Required:
Compute the Capital Gains Tax payable by Papa Dekey. (5 marks)
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