Neal is 54 years old. He is married out of community of property, and he does not have any children. He earns a salary of R480 000, a bonus of R48 000, foreign interest of R25 000. He contributes 7% of his salary and bonus to a retirement fund each month. He contributed for the entire year. His employer contributed an equal amount per month for the full year of assessment. He contributed R1 800 per month to a medical aid fund for the full tax year. His employer made an equal amount of contributions to his medical aid for the for the full tax year. You may assume that his remuneration is R586 560. YOU ARE REQUIRED to determine his taxable income for the current year of assessment. Question 21 Not yet answered Marked out of 1 Flag question a. R537 640 O b. R516 040 c. R553 000 d. R513 840