Question 3 (20 Marks) Mr. and Mrs. Kaereho, who are both under the age of sixty-five years, returned the following information to the Receiver of Revenue in respect of the 2020 year of assessment. Mr. Kaereho Monthly Salary earned 5 700 Dividends received from Companies In South Africa 800 In Namibia 900 In America 1 200 Dividends received from SWABOU Building Society On Subscription Shares 3 000 On Special Tax Free Indefinite period Shares 4 000 On paid up shares 2 000 Interest received On Exchequer bonds of Namibia 3 000 On fixed deposit with a bank 2 000 On PostOffice savings account 200 On Loan to Peter Green (Note 1) 400 Loss on disposal of shares (Investment) 1 000 War pension 2 400 Winnings on the Rothmans July Handicap 1 000 Cash legacy received from the estate of his late father 40 000 Rent form United Kingdom Property 4 000 Annuity Received from a trust in America created by his late grandfather 6 000 Interest paid on Loans to purchase the Namibian shares 200 to make the fixed deposit with the bank 100 Mrs Kaereho Salary received 36 000 Notes 1. He had lent N$4 000 to Peter Green by advancing the money by telegraphic transfer to Greens account in London. REQUIRED Calculate their 2020 normal tax liabilities

Note: The return file is jointly

NOTE: TAX RATE OF US