Martini is 40 years old. During the current year of assessment, he earned a salary of R220 000 and commission of R80 000. He contributed R1 500 per month to a retirement annuity fund for the full year of assessment. His employer contributed an equal amount per month to his retirement annuity fund for the full year. Martini received a right to use of a company owned vehicle for the full year in the current year of assessment. The taxable fringe benefit from the right of use of the company car was correctly determined to be R120 000. You may assume that his remuneration is R414 000. YOU ARE REQUIRED to calculate his taxable income for the current year of assessment: