ACTIVITY 12 (14 Marks) Kevin is a 45-year-old man who works for a tourism company. He carns a gross salary of R28 754,50 per month and a 13th cheque at the end of the company's financial year. The following are deducted from his salary on a monthly basis. 7,5% of his salary towards his pension R1 434,70 for his medical aid The table below shows the tax rates for individuals for the year of assessment ending 28/02/2013 Tax Bracket A B C 2.1 D E F .2 3 Taxable Income (in rand) Primary Secondary (65 years old and above) Tertiary (75 years old and above) 0-160 000 160 001 - 250 000 250 001 - 346 000 346 001-484 000 484 001-617 000 617 000 and above Rate of Tax (in rand) 18% of taxable income 28 800 + 25% of taxable income above 160 000 51 300 + 30% of taxable income above 250 000 80 100+ 35% of taxable income above 346 000 128 400 + 38% of taxable income above 484 000 178 940 + 40% of taxable income above 617 00 Rebates se the above information to answer the following questions. Calculate Kevin's monthly contribution towards his pension. Calculate Kevin's annual medical-aid contribution. R11 440 R 6 390 R 2 130 Source:DBE P2 EXEMPLAR Kevin's taxable income for the year of assessment ending 28/02/2013 was R330 713,02. Describe how Kevin's taxable income was calculated. 4 Determine Kevin's tax bracket. Write down only the letter (A-F) corresponding to Kevin's taxable income. 5 Write down Kevin's rebate
