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Mr Buti, a 55-year-old salesman earned a gross income of R27 678 per month during the 2020/2021 tax year. A monthly deduction of 7,5% was made from his salary and paid into his pension fund. Show, by means of calculations, that Mr Buti's monthly tax was R4 037,38.
Mathematics
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5.1.1
Step 1: Calculate Mr. Buti's annual gross income.
Mr. Buti's monthly gross income is R27 678.
Step 2: Calculate Mr. Buti's annual pension deduction.
A monthly deduction of 7.5% is made from his salary for his pension fund.
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