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Chantal Strydom, a South African resident aged 30, received a salary of R11 500 per month for the period from 1 March to 30 June
Chantal Strydom, a South African resident aged 30, received a salary of R11 500 per month for the period from 1 March to 30 June 2023. She contributes 7% of her salary to the company pension fund and 10% to a retirement annuity fund (RAF). On 1 July 2023, the business was sold to another company and Chantal's terms of employment was renegotiated by the new owners. In terms of Chantal's new contract, she earned a salary of R9 000 per month, plus an entertainment allowance of R1 000 per month from July 2023. She does not have to account for any expenditure in terms of the entertainment allowance. The new company had no pension fund, so she increased her RAF contribution to 12.5% of her salary. Both employers agreed to take the private RAF contributions into account in calculating Chantal's employees' tax. Chantal is a South African resident for tax purposes. Calculate Chantal's retirement fund contributions that will be allowed as a deduction in calculating the balance of remuneration for employees' tax purposes for the period 1 March 2023 till 30 June 2023
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