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The company, Mr. Ndlovu's employer, contributes to an approved provident fund as part of Mr. Ndlovu's director's remuneration a contribution amounting to R351 733 for
The company, Mr. Ndlovu's employer, contributes to an approved provident fund as part of Mr. Ndlovu's director's remuneration a contribution amounting to R351 733 for the 2024 year of assessment. Mr. Ndlovu has a balance of unclaimed contributions made to the provident fund after 1 March 2020 of R23 333. Assume that Mr. Ndlovu correctly calculated amounts for the 2024 year of assessment as the following: Remuneration is R1 443 578 and taxable income before the s11F of the Income Tax Act deduction is R1 444 593 (Mr. Ndlovu had no taxable capital gains in the 2024 year of assessment). Calculate the section 11F of the Income Tax Act deduction for Mr. Ndlovu in his 2024 year of assessment
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