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PART B (10 marks, 15 minutes) Victor Malabo (68 years) is employed by Takealot (Pty) Ltd. He has been an employee for 16 years. He
PART B (10 marks, 15 minutes) Victor Malabo (68 years) is employed by Takealot (Pty) Ltd. He has been an employee for 16 years. He is married out of community of property to Vanessa and they have two adult children. Victor has been a member of Takealot's medical aid scheme since the start of his employment. Victor's tax practitioner, Lerato, fell ill and cannot complete his tax return. She correctly calculated his taxable income for the 2020 year of assessment as R482 500. Victor has asked you to assist him in calculating his tax liability and provided you with the following additional information: R Monthly contributions to medical aid scheme by Victor 3 400 Monthly contributions to medical aid scheme by Takealot on behalf of Victor 2 500 Hospital expenses paid by Victor for his mother-in-law (not recovered from the medical aid scheme) 18 300 Pharmacy account for prescription medication (recovered from the medical aid scheme) 2 200 Victor's mother-in-law is a dependant on his medical aid. No member of the family has a disability as defined REQUIRED: MARKS Calculate Victor's net normal tax liability for the 2020 year of assessment. 10 PART B (10 marks, 15 minutes) Victor Malabo (68 years) is employed by Takealot (Pty) Ltd. He has been an employee for 16 years. He is married out of community of property to Vanessa and they have two adult children. Victor has been a member of Takealot's medical aid scheme since the start of his employment. Victor's tax practitioner, Lerato, fell ill and cannot complete his tax return. She correctly calculated his taxable income for the 2020 year of assessment as R482 500. Victor has asked you to assist him in calculating his tax liability and provided you with the following additional information: R Monthly contributions to medical aid scheme by Victor 3 400 Monthly contributions to medical aid scheme by Takealot on behalf of Victor 2 500 Hospital expenses paid by Victor for his mother-in-law (not recovered from the medical aid scheme) 18 300 Pharmacy account for prescription medication (recovered from the medical aid scheme) 2 200 Victor's mother-in-law is a dependant on his medical aid. No member of the family has a disability as defined REQUIRED: MARKS Calculate Victor's net normal tax liability for the 2020 year of assessment. 10
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