QUESTION $1(40$ marks, $72$ minutes$)$

Gerald Bosch $($Gerald$)(65$ years old$)$ is an electrical engineer for a South African construction company $($Quality Building $($Pty$)$ Ltd $($QB$)).$ Gerald does not own any of QB$\text{'}$s equity shares. Gerald is married out of community of property to Francette. They have a $24-$year$-$old daughter $($Shani$)$ and a $19-$year$-$old son $($Dan$),$ both full$-$time students at a university and dependant on their parents.

Gerald retired on $31$ August $2023,$ after $35$ years employment with QB$.$ Details of Gerald's employees' tax calculation, as compiled by Gerald for the period, is as follows:

Notes

$R$

Income$/$receipts$/$benefits

Line items $($below: $1$ to $6)$

Salary $(6$ months$).$

Use of a company$-$owned vehicle $($par$.$ reference to be provided$)$

Subsistence allowance $($par$,$ reference to be provided$).$

Retirement fund contribution benefit

Installation of solar system at Gerald's house.

Severance benefit $q,$ Total annual equivalent remuneration.

$\backslash$table$[[,637800],[1,12600],[2,10000],[3,42000],[4,60000],[5,100000],[,{862400}_{?}$