2 Not yet answered Marked out of 13 Flag question Time left 2:23:15 Bruce Wayne is a 67-year-old entrepreneur who is the CEO of Wayne Enterprises Pty. Ltd. Bruce earned the following income (Rands) Basic salary Bonus 200 000 per annum 125 000 per annum 16 000 per annum Overtime Housing allowance 26 000 per annum 150 000 per annum Entertainment allowance 34 000 per annum 20 000 per annum Subsistence allowance Travel allowance Bruce also receives rental income of R60 000 from renting his apartment in Summerstrand to a student for the year Bruce is a member of the company's pension fund, where he contributes 12% of his basic salary and the company contributes 13% of his basic salary in terms of the rules of the fund He also received R36 000 interest from a collective investment scheme and R6 000 in dividends from his shares in Wayne Enterprises Pty Ltd (after dividends tax) When Bruce turned 65 he retired from a retirement annuity and is currently receiving an annual annuity of R55 000 per annum He did not commutate the retirement annuity and thus took the full fund credit as a compulsory annuity As of the current year of assessment his accumulated disallowed contributions as per sil is R120 000 Bruce sold his eight meter fishing boat for R2 200 000, for which he paid 0870 000 in October 2002 Given that Brice is so close to retirement, he decided to take R200 000 of the proceeds from the sale of his boat and transfer it into his pension fund Calculate the maximum tax deduction using the sTIF criteria. Commence your question by calculating Bruce Wayne's taxable income. Use the template provided when answering the question Type here to search O 22C Mostly s