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Question 3 Reuben is 5 4 years old. He is married and has one 1 7 - year - dd child. Reuben had the following
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Reuben is years old. He is married and has one yeardd child.
Reuben had the following income and expenses for the current year of assessment:
Income
Salary
Bonus received nonpensionable
Dividends:
From a South African company
Taxable foreign dividend
Interest received:
South African savings account
Foreign bank account
Taxable capital gain made from the sale of shares is
Expenses
Medical expenses
Reuben belongs to a medical aid scheme. His wife and daughter are listed as dependents. His employer contributes R per month to the medical aid scheme in respect of his membership, and Reuben contributes R per month.
Reuben incurred further qualifying medical expenses of
R during the year of assessment. These expenses were not covered by his medical aid.
Pension fund contribution current
Retirement annuity fund contributions current
Reuben pays of his contributions to all retirement funds.
He made the following donations during the year:
Donation to Natal University
Donation to an AIDS crisis centre public benefit organisation
Donation to a local Boy Scout troop not a public benefit organisation
R
R
of salary
R
During the year of assessment, Reuben was obliged to spend four days away from his usual place of residence in the Republic for business purposes. He received an allowance of R from his employer. He is able to prove that he incurred expenses of R on meals and incidental expenditure.
Required:
Calculate Reuben's taxable income for the current year of assessment.
GRAND TOTAL:
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