Question: QUESTION 2 [ 2 0 Marks ] Peter presented you with the following information that relates to the 2 0 2 4 year of assessment:

QUESTION 2[20 Marks] Peter presented you with the following information that relates to the 2024 year of assessment: A salary of R350000 was earned from A1 Traders, where he was employed from 1 March 2023 to 30 November 2023. The total PAYE deducted by the employer amounted to R75000. The total salary earned from Y-Dot Trading, where Peter was employed from 1 December 2023 to 28 February 2024, amounted to R125000. The accountant deducted a total of R20000 in respect of PAYE. The HR policy of Y-Dot Trading stipulates that membership to a recognised medical aid is compulsory. Peter joined FIT-medical aid effective 1 December 2023 at a monthly rate of R1500. Peter joined a retirement fund effective 1 December 2023 at a monthly fee of R1000. The total interest on investment earned during the year of assessment amounted to R28800. Foreign dividends of R2000 were received during the year of assessment. Peter sold the townhouse he inherited from his grandfather for R850000 during January 2024. The total taxable capital gains realised on this sale amounted to R15000. You are required to: Calculate the tax liability of Peter for the year of assessment ended 28 February 2024.

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