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Talisa Abara is a citizen of South Africa ( SA ) and was employed by Bright Insurance Ltd . as a senior financial advisor in

Talisa Abara is a citizen of South Africa (SA) and was employed by Bright Insurance Ltd. as a senior financial advisor in the year 2020. In January 2023, she was posted to work and to be paid by the companys branch in Kenya on a five-year contract. She earned the following incomes from her employment and other sources for the year of income 2023: 1. Basic salary of Sh.300,000 per month net of pay as you earn (PAYE) of Sh.50,000 per month. 2. The employer paid for her passage of Sh.200,000 during the year. She used 30% of the amount to visit local tourist sites. 3. In March 2023, she bought 15,000 shares of the company at a price of Sh.30 per share although the market price was Sh.35 per share. At the end of the year she received a dividend of Sh.6,000.4. She was provided with accommodation by the employer. The employer leased the house at a monthly rental charge of Sh.120,000. The house was fully furnished at a cost of Sh.400,000. She had a house servant whom the employer pays a salary of Sh.20,000 per month. 5. In the month of October 2023, she worked in the companys headquarters in South Africa where she was tasked with a responsibility of training employees in a newly installed finance software. She received her salary for the month from the Kenya branch. 6. She was provided with a leased vehicle of 2000cc by the employer. The vehicle was leased from Betalite Motors at a monthly charge of Sh.60,000. Betalite Motors had bought the vehicle in January 2022 for Sh.3,200,000, but the value of the vehicle in January 2023 was Sh.2,400,000.7. The employer paid for her life insurance cover amounting to Sh.240,000 during the year. 8. During the year, she fell sick and was admitted at a local private hospital. She paid a bill of Sh.180,000 which was reimbursed by the employer. The company has a policy that covers all senior managers and it provides for a maximum reimbursement of Sh.1,000,000 in a year. 9. Due to the nature of her work, the employer entered into an agreement with Laserbite hotel to be delivering her meals to the office from 1 April 2023. The cost of the meals was Sh.15,000 per month. 10. Her salary was adjusted upwards by Sh.30,000 per month on 1 November 2023 and backdated to 1 September 2023.11. The employer contributed 15% of her basic salary to a registered pension scheme and she also contributed 7.5% to the same scheme. 12. She invested in the real estate and financial sector during the year where she earned the following incomes: Sh. Gross rental income from commercial property 1,200,000 Dividend from Samco Cooperative Society (net)85,000 Interest income from Union Bank Ltd.(net)255,000 Consultancy fee for training (net)114,000 Required: (i) Compute the total taxable income for Talisa Abara for the year ended 31 December 2023.(12 marks)(ii) Determine the tax payable (if any) on the income computed in (b)(i) above.

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