ANNEXURE: Tax tables Rates of tax applicable to individuals and special trusts for the 2022/2023 tax year of assessment: Question 3 [15 Marks] Your uncle, David, heard that you are studying a taxation module and requests your assistance in calculating his taxable income for the financial year ending 28 February 2023. You are presented with the following information in relation to David: - David was 41 years old on 28 February 2023 and was an ordinary resident in South Africa during the 2023 tax period. - David received R40 000 in interest on his Capitec bank fixed savings account and R8 000 on his USA fixed savings account. - On 31 August 2022, David was retrenched by his employer. He received a salary of R110 000 from 01 March 2022 to 31 August 2022. - David submitted a claim with the Unemployment Insurance Fund (UIF). David received, in total, R35 000 on 30 October 2022. - David purchased an annuity on May 2022 for R20 000. In terms of his contract, he received an annuity of R300 from the end of November 2022, and this monthly annuity would run for a period of seven years. - On 01 June 2022, David received dividends of R7 000 from a JSE-listed company. Required: Calculate the taxable income of David for the financial year ending 28 February Interest Exemptions Interest from a South African source earned by a natural person is exempt, per annum, up to an amount of: Income Tax Rebates for Individuals