Question Renee, a sole-proprietor engaged in the trading of stationery, has agreed to sell her business as a going concern for a consideration of RM500,000. The assets of her business are as follows: Motor car Van Cash register Photostat machine Lease of premises Stock in trade Debtors Goodwill No agreement has been reached with the purchaser as to the prices to be allocated to the separate assets. Required: Having regard to the information given above, explain the tax issues that Renee should have in mind when drawing up the agreement for the sale of her business. (5 marks) Explain the tax implications arising from the disposal of each of the assets (as listed) of Renee's business. (10 marks) Advice Renee on how to minimize her tax from the sale proceed received.( 15 marks)