Mr. Ballim, retired from Hartley Ltd on 31 December 2023 as he has...

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Accounting

Mr. Ballim, retired from Hartley Ltd on 31 December 2023 as he has reached the age of 65 years. He is married out of community of property. Upon his retirement he had received the following income for the ye of assessment:
As per the agreement in his employment contract, Mr. Ballim continued to receive a salary of R250 per month for the entire current year of assessment.
An expensive watch that the company had paid R15000 for. This was awarded in appreciation of the long service he had given to the company.
Dividends of R16000 was received from a company based in France which was listed on th Johannesburg Stock Exchange (JSE).
Mr. Ballim owns a rent producing property which earns rent of R4000 per month, in addition to this he has incurred maintenance expenses of R17000(allowable deduction) during the year of assessment.
He received interest of R32000 from a local bank, this was from a fixed deposit he held at the bank.
Dividends of R90000 which was received from a South African company for the year.
Mr. Ballim had the following expenses during the year of assessment:
A contribution of 8% of his salary to a pension fund.
He installed solar roof panels at his home to the value of R60000 in May 2023.
A provisional tax payment of R25000 was made on 31 August 2023.
REQUIRED:
Calculate the tax payable for Mr. Ballim for the 2024 year of assessment.
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