QUESTION 1 [42 Mrs Venter is a 45-year-old lady who is a Director for Bophelong Public Hospital. She earn basic monthly salary of R60 555,30 and also receives a 13th cheque on her birth month, which is equivalent to her monthly salary. She contributes 7.5% of her basic monthly sala to GEPF. She and her three children are on medical aid and as part of her charity, she contributes R1 500 to the local Orphanage. Use ANNEXURE A to assist you to answer the questions that follow: 1.1.1 Calculate the total tax deductibles per annum. 1.1.2 Determine her total annual rebates. 1.1.3 Calculate her total medical tax credits. 1.1.4 Show using calculations that her Taxable Income is R714 719,13. 1.1.5 Refer to Annexure A to calculate her monthly tax. 1.1.6 Calculate her monthly nett income using the formula below: Monthly Nett Income = Monthly Total Income - GEPF - Monthly Tax
