QUESTION $4(30$ Marks$)$ Ben is a sole proprietor of a stationery business. On $1$ June $2022$ he entered into a partnership agreement with Kevin. As per the agreement the partners will share profits and losses on a $50$:$50$ basis. In the $2024$ year of assessment, the partnership had the following income and expenses: Income $995000$ Gross income $965000$ Irrecoverable debts recovered $($Note $1)30000$ Expenses $739750$ Sundry expenses $($deductible for tax purposes$)98000$ Administrative expenses $85000$ Depreciation $($Note $2)64000$ Salaries: Ben Kevin Other employees $12500013500072750$ Retirement annuity fund: Ben $($Note $3)$ Kevin $($Note $3)2250018750$ Provident fund: Other employees $($Note $4)32750$ Drawings $$ Kevin $26750$ Bad debts $($Note $5)9000$ ADDITIONAL INFORMATION: Note $1-$ Irrecoverable debts recovered The irrecoverable debts recovered relates to R$30000$ for debtors brought into the partnership by Kevin. Note $2-$ Depreciation Delivery vehicle $1$: This vehicle was purchased for use in the partnership on $1$ June $2016$ for R$250000.$ Delivery vehicle $2$:This vehicle was purchased second hand in cash by the partnership on $1$ September of the current year of assessment $(2024),$ when James joined at a cost of R$32000.$ In terms of Interpretation Note No$.47,$ delivery vehicles are written off over a four$-$year period. The second$-$hand delivery vehicle was purchased from a person who is registered for VAT purposes. Note $3-$ Contributions to retirement annuity funds The retirement annuity fund contributions are allowed as a deduction for the partner$-$ship since they are paid in terms of the partnership agreement. Note $4-$Contributions to provident fund The partnership contributes R$32750$ on behalf of its employees to a provident fund. Note $5-$ Bad debts R$3000$ of total bad debts relates to a debtor brought into the partnership by Kevin.

REQUIRED: Calculate Kevin$$s taxable income for the current year of assessment for $2024.$