Ruan Barnard (55 years old) is married out of community of property. He is a resident of South Africa. Ruan is a provisional taxpayer. Part A The following information relating to Ruan’s first provisional tax payment for the 2024 year of assessment has been provided below: • 2023 tax return has not yet been assessed • 2022 tax return has not yet been assessed • 2021 assessment was assessed on 14 November 2021 and his taxable income was R600 000 Required: 4.1 Calculate the amount on which Ruan’s first provisional payment on 31 August 2023 will be based. (7 Marks) Part B Assuming a correct 1st Provisional Payment of R25 000 was paid by Ruan on the 31st of August 2023. Ruan has supplied you with the following information to assist with the calculation of the 2nd provisional payment to be paid on the 28th of February 2024. Estimated Income based on the preceding year of assessment: Salary R320 000 Rental Income R42 000 Taxable Capital gain R23 000 Estimated Income based on the preceding year of assessment R385 000 Ruan’s employer has deducted and paid over to SARS employees tax amounting to R2 115 per month. Required: 4.2 Calculate the second provisional tax payment made by Ruan Barnard for the 2024 year of assessment. (8 Marks)
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