The answer depends on which asset identification method you have adopted.
First in, first out or specific identification
If you adopted the first-in-first-out or specific identification method for identifying which shares you have disposed of, your valuation date value will be restated to R70 under paragraph 27(3)(a) of the Eighth Schedule. There will, therefore, be no capital gain or loss on this transaction. A similar principle applies under paragraph 26(3) when an asset is sold for less than its valuation date market value but more than its historical acquisition cost.
If you adopted the weighted average identification method, the market value gain of R10 (R70 – R60) must be brought to account. The reason is that this method uses the market value of your shares on 1 October 2001 as its starting point. The gain and loss limitation rules do not apply if you adopt this method.