QUESTION $3(30$ marks$)$ Client Request # $3$ Your Supervisor Mr Gomolemo Dibona has presented the following information by a new client Ramogomana Farmers Pty Ltd$.$ Ramogomana Farmers Pty Ltd has decided to register as a company so that the can be allowed to utilize relevant loss reliefs available to farmers. The table below provides information relating to the farming business of Ramogomana Farmers Pty Ltd$.$ The results are as $31$ December every year. $2018($P$)2019($P$)2020($P$)2021($P$)$ Taxable farming income$($loss$)$ Chargeable gains Allowable loss Bank interest Employment income $1,920,000186,000150,000370,000(4,500,000)660,000168,000380,0001,140,000(540,000)168,000400,0001\mathrm{.}500,000360,000210,000420,000$ Required a$)$ Ramogomana Farmers Pty Ltd wants to know their tax liabilities $($tax payable$)$for each of the four years after claiming the maximum loss relief at the earliest possible times. $$ i$)$ Calculate assuming application of Section $46.(6$ marks$)$ ii$)$ Calculate assuming that Ramogomana Farmers Pty Ltd apply section in $2019(6$ marks$)$ iii$)$ Calculate if Ramogomana Farmers Pty Ltd wants to apply Section $42$ in $2020.(6$ marks$)$ iv$)$ Demonstrate which option will result in more tax saving for the company.$(2$ marks$)$ v$)$ Discuss the different ways on$$ how farming losses may be relieved for an individual and by a company.$(10$ marks$)$