1. Lease term: Two years from 1 January 2020. 2. Monthly rent: HK$50,000 payable on the first day of each month. 3. Lease premium: HK$100,000 payable at the commencement of the lease. 4. Rental deposit: HK$100,000 payable upon the signing of the lease agreement. 5. Rates: HK$8,000 per quarter payable by the owner. 6. Government rent: HK$4,800 per quarter payable by the owner. 7. Management fee and air-conditioning charge: HK$4,000 per month payable by the tenant to the building management office. 8. During the year ended 31 March 2021, Evan has paid HK$6,500 to replace the water pipes of the property. Evan received the Tax Return Individuals for the year of assessment 2020/21 issued by the Inland Revenue Department (IRD) on 2 May 2021. He was required to submit the tax return to the IRD within one month from the date of issue, but he has not filed the tax return up to now. He has received an estimated property tax assessment for the year of assessment 2020/21 dated 30 October 2021 from the IRD. Required (a) Calculate the Hong Kong property tax payable by Evan Lam for the year of assessment 2020/21. Ignore provisional tax. (10 marks) (b) Explain to Evan what the obligations under the Inland Revenue Ordinance are for filing the tax return by a taxpayer and by which date must he file the return to CIR. (2 marks) (c) If Evan would like to lodge an objection against the estimated property tax assessment, what are the requirements under the Ordinance? (8 marks) 1. Lease term: Two years from 1 January 2020. 2. Monthly rent: HK$50,000 payable on the first day of each month. 3. Lease premium: HK$100,000 payable at the commencement of the lease. 4. Rental deposit: HK$100,000 payable upon the signing of the lease agreement. 5. Rates: HK$8,000 per quarter payable by the owner. 6. Government rent: HK$4,800 per quarter payable by the owner. 7. Management fee and air-conditioning charge: HK$4,000 per month payable by the tenant to the building management office. 8. During the year ended 31 March 2021, Evan has paid HK$6,500 to replace the water pipes of the property. Evan received the Tax Return Individuals for the year of assessment 2020/21 issued by the Inland Revenue Department (IRD) on 2 May 2021. He was required to submit the tax return to the IRD within one month from the date of issue, but he has not filed the tax return up to now. He has received an estimated property tax assessment for the year of assessment 2020/21 dated 30 October 2021 from the IRD. Required (a) Calculate the Hong Kong property tax payable by Evan Lam for the year of assessment 2020/21. Ignore provisional tax. (10 marks) (b) Explain to Evan what the obligations under the Inland Revenue Ordinance are for filing the tax return by a taxpayer and by which date must he file the return to CIR. (2 marks) (c) If Evan would like to lodge an objection against the estimated property tax assessment, what are the requirements under the Ordinance? (8 marks)