$1\mathrm{.}1$ In August $2022,$ I was lucky enough to inherit R$2$ million from a loved one. I

$(2)$

am currently in my early $40$s$,$ own my home and would like to consider early retirement. In working out how possible this is$,$ I have considered putting this money with Growth Mutual Bank in their $60-$month fixed deposit savings account with an annual nominal return of $9\%$ interest for money invested over the amount of R$100000.$

Therefore, my net taxable income will be:

A$.$ R$180000$

B$.$ R$23800$ be tax$-$exempt and then l$\text{'}$m taxed at $40\%.$

C$.$ R$180000-R23800=R156200.$

D$.$ Interest earned after tax: R$93720+$ the R$23800$ exempt amount for a total of R$117520.$

$1\mathrm{.}2$ In August $2022,$ I was lucky enough to inherit R$2$ million from a loved one. I

$(2)$

am currently in my early $40$ s$,$ own my home, and would like to consider early retirement. In working out how possible this is$,$ I have considered putting this money with Growth Mutual Bank in their $60-$month fixed deposit savings account with an annual nominal return of $9\%$ interest for money invested over the amount of R$100000.$

Therefore, my net tax payable will be:

A$.$ R$23800$

B$.$ R$11691$

C$.$ R$32400$

D$.$ R$156000$

$1\mathrm{.}3$ A man $($aged $38)$ purchases a life annuity for R$50000.$ The annuity is

$(2)$

R$3600$ a year. His life expectancy is $30,41$ years $($based on his age on his birthday preceding the commencement of the annuity contract$).$ The expected return is therefore R$109476(R360030,41).$

The capital element of the annuity that qualifies for the exemption is determined as follows:

A$.R50000$

B$.R2644$

C$.$ R$1644$

D$.$ R$3600$