After being retrenched from Synergy Limited, a South African company, David Mitchell

$(66-$years old$)$ and his family decided to relocate to Australia on $1$ January $2023.$ David

had a promising opportunity to launch his own technology firm, Alpha Digital Solutions

Limited $($ADS$),$ in Australia.

The family secured permanent residency in Australia once they settled in Sydney,

Australia. In Australia, David and his family rented a home, purchased a car, joined a

local community group, acquired office space for the business, and registered with

Australian Social Services. During the $2024$ assessment year, they visited South Africa

three times, with each visit lasting four weeks. They also maintained their house in

South Africa, keeping it available for their use during these trips.

David had the following receipts for the $2024$ year of assessment:

$$ Total interest of R$100000$ for the year was received on a fixed deposit with a

South African bank $($this is not from a tax$-$free investment according to section

$12$T$(1)).$

$$ Dividends of R$55000$ from his investment in ADS.

$$ R$250000$ on $15$ March $2023$ as compensation for the termination of his

employment with Synergy Limited, the South African company where he

worked.

$$ A total salary of R$780000$ received from ADS. Calculate David$$s taxable income for the $2024$ year of assessment.

$$ Assume that David is not a resident of South Africa; he is a resident of

Australia.

$$ Include the applicable section of the Income Tax Act as part of your answer

and show all calculations.

$$ If an amount is excluded, state this fact and provide a brief reason for your

answer.