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A herd of five 4 year-old pigs was held on 1 January 20X3. On 1 July
20X3 a 4.5 year-old pig was purchased for $212.
The fair values less estimated point of sale costs were:
4 year-old pig at 1 January 20X3 $200
4.5 year-old pig at 1 July 20X3 $212
5 year-old pig at 31 December 20X3 $230From this we are making gain of 168. is this amount taxed this year?
Assume tax rate is 20%
tax charge=168*0.2=33.6Or will it be taxed like when we disposal it in later years?
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