Question $2[31$ Marks$]$During the $2022$ year of assessment, Luyanda resigned and withdrew R$2000000$ from his pension fund. He transferred $50\%$ of this pension fund to a pension preservation fund. During the $2023$ year of assessment, Luyanda received a withdrawal benefit of R$380000$ from the pension preservation fund. During the $2024$ year of assessment, she retired and received a retirement benefit of R$800000.$Required:Calculate the tax payable by Luyanda for the following years of assessment: Show all your calculations$5$HIT$1181-$Jan $-$ June $2024-$FA$1-$AM$-$V$3-22012024$ In the $2022$ year of assessment In the $2023$ year of assessment In the $2024$ year of assessment$7$ marks $11$ marks $13$ marksQuestion $3[12$ Marks$]$Nthabi is the owner of Brown Dee Limited $($BD$).$ BD purchased a delivery vehicle on $1$ March $2021$ for an amount of R$280000.$ BD was entitled to a S$11($e$)$ allowance of $20\%$ p$.$a$,$ on the delivery vehicle.The delivery vehicle was sold on $1$ November $2023$ for an amount of R$300000.$Required:Use the above information to calculate both the tax value and the recoupment for the year ending $29$ February $2024\mathrm{.}6$ HIT$1181-$Jan $-$ June $2024-$FA$1-$AM$-$V$3-22012024$Question $4[6$ Marks$]$Briefly explain your understanding of exempt income and state four $(4)$ types of exempt income provided for by the Income Tax Act$\mathrm{.}7$ HIT$1181-$Jan $-$ June $2024-$FA$1-$AM$-$V$3-22012024$ANNEXURE A:Retirement Lump Sum Benefits$2024$ tax year $(1$ March $202329$ February $2024)$ Taxable income $($R$)155000055000177000077000111550001155001$ and aboveRate of tax$0\%$ of taxable income$18\%$ of taxable income above $55000039600+27\%$ of taxable income above $770000143550+36\%$ of taxable income above $1155000(1$ March $201428$ February $2023)$Taxable income $($R$)150000050000170000070000110500001050001$ and aboveWithdrawal BenefitRate of tax$0\%$ of taxable income$18\%$ of taxable income above $50000036000+27\%$ of taxable income above $700000130500+36\%$ of taxable income above $10500002024$ tax year $(1$ March $202329$ February $2024)$Taxable income $($R$)1275002750172600072600110890001089001$ and aboveRate of tax$0\%$ of taxable income$18\%$ of taxable income above $27500125730+27\%$ of taxable income above $726000223740+36\%$ of taxable income above $10890008$HIT$1181-$Jan $-$ June $2024-$FA$1-$AM$-$V$3-22012024(1$ March $201428$ February $2023)$Taxable income $($R$)12500025001660000660001990000990001$ and aboveRate of tax$0\%$ of taxable income$18\%$ of taxable income above $25000114300+27\%$ of taxable income above $660000203400+36\%$ of taxable income above $990000$ ANNEXURE B:Interest Exemptions $2024$ ratesPerson younger than $65$ R$23800$ Person $65$ and older R$34500$ Interest from a South African source earned by a natural person is exempt, per annum, up to an amount of: $9$ HIT$1181-$Jan $-$ June $2024-$FA$1-$AM$-$V$3-22012024$