Rentan Bester created a Iving trust. Mr Bester also donated certain assets to the trust that generate its income. Three trustees have been appointed who have the discretion to distribute the income of the trust as they see fit An extract of the trust deed is shown below: TRANSFER OF PROPERTY The Settior, Rentan Bester, hereby conveys transfers and assigns the Property to the Trustee to be held on trust on such terms as are set out in this Trust Deed. The Trustee hereby acknowledges receipt of the Property and consents to the terms of the Trust Deed and admits and acknowledges that they are holding the Property in trust on the term as set out in this Trust Deed. The Trustees are also expressly authorised to receive further property in the future from the Settler or from any other person and to add this new property to the Trust Fund DISTRIBUTIONS TO MINORS The Trustees may make distributions to Beneficiaries who are miners in the following ways: either a) payment to those minors directly, or, b) payment to their parents or guardians. The Trustees shall have absolute discretion over which manner to choose and either manner shall be a valid discharge of their powers DISTRIBUTION TO JACKY BESTER Distributions to Beneficiary, Jacky Bester, shall be subject to her receiving her law degree at the University of Cape Town Schedule A The Trust property (object of the Trust) shall be the following Led Property Share investments, 50 000 shares in BidProp Schedule B The Trust Beneficiaries (objects of the Trust) shall be the following: Beneficiary 1. Vicky Bester (Mr Rentan's). 2. Jacky Bester (24 years of age) and 3 Piet Bester (8 years of age) You have been given the income and expenses of the trust during the year of assessment ended 28 February 2019: Income Rental income of leased property Dividends Percentage 60% 30% 10% Expenses Bank Charges Interest on mortgage over properties Maintenance expenditure on leased out property Other expenditure in production of income 288 NS 200 000 60 000 5 000 25 000 15 000 7 500 207 500 Leased Property Share investments, 50 000 shares in BidProp Schedule B The Trust Beneficiaries (objects of the Trust) shall be the following: Beneficiary 1. Vicky Bester (Mr Rentan's), 2. Jacky Bester (24 years of age) and 3. Piet Bester (8 years of age) You have been given the income and expenses of the trust during the year of assessment ended 28 February 2019: Income Rental income of leased property Dividends Percentage 60% 30% 10% Expenses Bank Charges Interest on mortgage over properties Maintenance expenditure on leased out property Other expenditure in production of income N$ 200 000 60 000 5.000 25 000 15 000 7 500 207 500 Assume that Jacky has not yet finished his degree for the year of assessment ending 28 February 2019. The trust only distributed 60% of the dividend income and 70% of the rental income to the beneficiaries during the year. YOU ARE REQUIRED TO: Calculate the taxable income of Vicky, Jacky, Piet and the Trust. (20 marks)