Mr. Ballim, retired from Hartley Ltd on 31 December 2023 as he has reached the age of 65 years. He is married out of community of property. Upon his retirement he had received the following income for the year of assessment: As per the agreement in his employment contract, Mr. Ballim continued to receive a salary of R25 000 per month for the entire current year of assessment. An expensive watch that the company had paid R15 000 for. This was awarded in appreciation of the long service he had given to the company. Dividends of R16 000 was received from a company based in France which was listed on the Johannesburg Stock Exchange (JSE). Mr. Ballim owns a rent producing property which earns rent of R4 000 per month, in addition to this he has incurred maintenance expenses of R17 000 (allowable deduction) during the year of assessment. He received interest of R32 000 from a local bank, this was from a fixed deposit he held at the bank. Dividends of R90 000 which was received from a South African company for the year. Mr. Ballim had the following expenses during the year