3 18 Marks-32 minutes Mr. Peters is a fully paid up member of a Building Society and owns 20 000 shares. He receives a dividend of 95 cents per share from the building Society and he has paid interest of N$6 000 on a loan he specifically acquired to purchase the said shares. In addition he received N$300 000 from a provident fund on retirement. Required: a) Are building society dividends exempt from tax? Explain how it is taxed. (3) b) Calculate the value of the dividend to be paid to Mr. Peters from the Building Society. (2) c) What is Mr. Peter's income tax payable for the year of assessment in which the above transaction took place? (13)