Justin is a $54-$year$-$old South African resident. He is employed by Fisheries $($Pty$)$ Ltd $($Fisheries$),$ a South African company that carries on business in Durban. The following information relates to Justin's tax affairs for the year of assessment ended $29$ February $2024$:

In terms of his employment contract, Justin receives the following remuneration:

$$ A monthly cash salary of R$29000.$

$$ Justin has unrestricted use of a company car. Fisheries paid R$195000($excluding VAT$)$ for the car and carried all the fuel and maintenance costs of the car. The car has no maintenance plan and Justin has not kept any records of kilometres travelled.

$$ Justin lives in a flat that Fisheries owns. In $2010,$ Fisheries bought a block of flats near its place of business with the view to offering employees residential accommodation as part of their remuneration package. It is both customary and necessary to provide such accommodation. The total costs borne by Fisheries in respect of Justin's flat, for the $2024$ year of assessment, are:

The one$-$bedroomed flat is supplied to Justin unfurnished. Justin's remuneration proxy for the $2024$ year of assessment is R$255000.$ Justin has no interest in Fisheries.

Additional information:

In December $2022,$ Justin received his $2022$ assessment, which reflected a taxable income of R$335000.$ His $2023$ assessment, which is dated October $2023,$ reflects a taxable income R$385000.$

Insurance

R$650$

Water and electricity

R$9600$

Portion of the bond interest

R$12000$

Rates

R$760$

$6$ HTAX$230-1-$Jan$-$June$2024-$SA$1-$ELK$-$V$2-23012024$

REQUIRED:

$2\mathrm{.}1)$ Calculate the employees' tax that must be withheld from the monthly remuneration that Justin receives from Fisheries $($Pty$)$ Ltd for the $2024$ year of assessment.

Show all calculations and round all answers to the nearest rand.

$(18$ marks$)$

$2\mathrm{.}2)$ Calculate Justin$$s first and second provisional tax payments for the $2024$ year of assessment. You may assume that Justin estimated his taxable income as R$365000$ for his second provisional tax payment.

Show all calculations and round all answers to the nearest rand.

$(13$ marks$)$

$2\mathrm{.}3)$ State the date by which Justin must make the third $2024$ provisional $($top$-$up$)$ payment to avoid any penalties and interest. $(1$ mark$)$

Competency Framework Reference:

E$1\mathrm{.}2$

Interpretation of tax legislation

b$)$

Demonstrate the ability to apply the principles of tax interpretation to any new or unfamiliar tax legislation.

E$1\mathrm{.}3$

Application of tax legislation to calculate tax obligation

a$)$

Analyse the taxpayer$$s tax profile.

c$)$

Apply the relevant law to the facts, determine the tax position and compute the tax payable $($VAT or normal tax$)$ for individua$2024$ tax year $(1$ March $202329$ February $2024)$

Tax Rebates

$2024$

Primary

R$17235$

Secondary $(65$ and older$)$

R$9444$

Tertiary $(75$ and older$)$

R$3145$

Medical Aid Tax Credits

$2024$

Main member

R$364$

Taxpayer and first dependent

R$728$

Each additional dependent

R$246$Fixed cost table: $1$ March $2023-29$ February $2024$

Value of the vehicle

$($including VAT$)($R$)$

Fixed cost

Fuel cost $($c$/$km$)$

Maintenance cost $($c$/$km$)$

$($R p$.$a$.)$

does not exceed R$100000$

$33760$

$141\mathrm{.}5$

$43\mathrm{.}8$

exceeds R$100000$ but does not exceed R$200000$

$60329$

$158\mathrm{.}0$

$54\mathrm{.}8$

exceeds R$200000$ but does not exceed R$300000$

$86958$

$171\mathrm{.}7$

$60\mathrm{.}4$

exceeds R$300000$ but does not exceed R$400000$

$110554$

$184\mathrm{.}6$

$65\mathrm{.}9$

exceeds R$400000$ but does not exceed R$500000$

$134150$

$197\mathrm{.}6$

$77\mathrm{.}5$

exceeds R$500000$ but does not exceed R$600000$

$158856$

$226\mathrm{.}6$

$91\mathrm{.}0$

exceeds R$600000$ but does not exceed R$700000$

$183611$

$230\mathrm{.}5$

$102\mathrm{.}1$

exceeds R$700000$ but does not exceed R$800000$

$209685$

$234\mathrm{.}3$

$113\mathrm{.}1$

exceeding R$800000$

$209685$

$234\mathrm{.}3$

$113\mathrm{.}1$