Question $3$

Reuben is $54$ years old. He is married and has one $17-$year$-$dd child.

Reuben had the following income and expenses for the current year of assessment:

Income

Salary

Bonus received $($non$-$pensionable$)$

Dividends:

From a South African company

Taxable foreign dividend

Interest received:

South African savings account

Foreign bank account

Taxable capital gain made from the sale of shares is

Expenses

Medical expenses

Reuben belongs to a medical aid scheme. His wife and daughter are listed as dependents. His employer contributes R$800$ per month to the medical aid scheme in respect of his membership, and Reuben contributes R$850$ per month.

Reuben incurred further qualifying medical expenses of

R$25500$ during the year of assessment. These expenses were not covered by his medical aid.

Pension fund contribution $-$ current

Retirement annuity fund contributions $-$ current

Reuben pays $100\%$ of his contributions to all retirement funds.

He made the following donations during the year:

Donation to Natal University

Donation to an AIDS crisis centre $($public benefit organisation$)$

Donation to a local Boy Scout troop $($not a public benefit organisation$)$

R$150000$

R$13000$

$R2800$

$R26200$

$R23400$

$R5290$

$R30000$

$8\%$ of salary

R $4200$

During the year of assessment, Reuben was obliged to spend four days away from his usual place of residence in the Republic for business purposes. He received an allowance of R$2500$ from his employer. He is able to prove that he incurred expenses of R$900$ on meals and incidental expenditure.

Required:

Calculate Reuben's taxable income for the current year of assessment.

$(45)$

GRAND TOTAL: $[100]$