Vicky Shikondjo is a civil engineer specialising in the building of dams and bridges. She is employed by Elite Engineers CC. Mrs Shikondjo is a resident of the Republic of Namibia. Mrs Shikondjo retired at the age of sixty on 31 August 2022, which is her last working day having provided 25 years of service to her employer. Mrs Shikondjo had received the following income from her investments: Dividends received as follows: N$ Paid up shares in a building society Special tax-free indefinite period shares from a building society (The investment is at an interest rate of 13%) Subscription shares in a building society Dividends from a Namibian construction company. The dividend was paid out due to liquidation of which N$ 5,000 was paid out of capital reserves. Dividends received from shares held in Bank Windhoek. (N$ 3,000 was paid out of capital reserves and the remaining out of Revenue reserves) 11,000 Dividends received from shares held in MTC Namibia. 80% of the dividends value was paid out to shareholders from utilizing MTCs share premium account. 20,000 Interest received as follows: N$ Interest from a savings account held at Nampost on behalf of her son. (The account is registered in Mrs Shikondjos name) 1,500 Interest from a collective investment scheme with IJG Other Income received or expenses incurred: 13,500 Rental income received on Mrs Shikondjos second property which is leased out. (This property was bought on 11 October 2011) 60,000 Mrs Shikondjo had paid levies of N$ 1,500 per month and incurred repairs and maintenance expenses of N$ 20,000 during the year of assessment on the above-mentioned property. Mrs Shikondjo had purchased an annuity for N$ 1,000,000 from an inheritance she received from her late Father. This annuity was purchased on 01 April 2022 and earns her a monthly annuity of N$ 6,500 starting on 01 May 2022. Assume her age at the time of receiving the annuity was 60 years. Income from an Investment in a Unit Trust account in South Africa. 5,000 (N$ 3,000 of this income is regarded as dividends, the difference is regarded as Interest income)

Mrs Shikondjo received a vehicle from a company where she has 20% shareholding. The vehicle was given to her as a gift due to the fact that she is a shareholder. The market value of the vehicle at the time of granting the gift was N$ 450,000. Interest of N$ 30,000 was paid on the loan to acquire the paid-up shares in the building society. YOU ARE REQUIRED TO: Calculate the taxable profit of Vicky Shikondjo for the year of assessment ending 28 February 2023. (20 Marks)