Question: Monica Weyulu had the following income for the year of assessment ending 28 February 2020: N$ Salary 10 000 Director's Fee 2 000 Interest

Monica Weyulu had the following income for the year of assessment ending

Monica Weyulu had the following income for the year of assessment ending 28 February 2020: N$ Salary 10 000 Director's Fee 2 000 Interest from First National Bank 1 000 Interest from Bank in the US 4 000 Dividends 2 000 Legacy 100 000 Gift 20 000 Profit on sale of house 10 000 Share Premium receipt 5 000 Subsidy on soil erosion 3 000 Annuity from insurance company 1 000 Lump sum from employer 50 000 Profit from business branch in South Africa Sale of shares held as: 10 000 Investment 8 000 Trading Stock 6 000 Required: Calculate the gross income of Monica Weyulu for the year of assessment ending at 28 February 2020.

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