Question
Lisa Magundumana Lisa , aged 50 years old is a resident of the Republic. She is a widow. She is a member of her employers
Lisa Magundumana Lisa , aged 50 years old is a resident of the Republic. She is a widow. She is a member of her employers medical aid, Kufuzu School of Accounting. She is the main member on the medical aid and has two dependents that are her two minor children. During the year, her employer contributed R3 900 per month on Lisas medical aid. Lisa paid qualifying expenses totaling R58 308,50 during the 2023 year of assessment. She recovered a total of R30 422 of the expenses incurred during the 2023 year of assessment. Her taxable income before the inclusion of the above transaction is R329 900. Required Marks Calculate Lisas tax payable for 2023 year of assessment. Show full workings and round off to the nearest Rand. Support your answer with legislation where applicable.
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