1 The expenses incurred by The Friendly Store (a sole proprietorship) in the year ended 31 December 2020 include the following Voluntary central provident fund (CPF) contributions (see note) $ 5,000 Statutory CPF contributions 20,000 Interest on late CPF contributions 800 25,800 Note The voluntary CPF contributions were made in accordance with the terms of The Friendly Stores employment contracts What is the total amount, in respect of these expenses, which The Friendly Gas Pte Ltd can claim as a deduction for the year of assessment 2021 $25,000 $20,800 $25,800 $20,000 2 Sally acquired a shop house on 1 January 2020 and rented it out from 1 July 2020 Details of Sallys rental income and expenses are as follows Rental income $ 96,000 Less Maintenance costs (1 January to 31 December 2020) (10,000) Commission to secure the first tenant (8,000) Mortgage interest (1 January to 31 December 2020) (20,000) Net income 58,000 What is Sallys taxable rental income for the year of assessment 2021 $73,000 $81,000 $66,000 $61,600 3 Mirka, the chief financial officer of M Ltd, a company listed on the Singapore Exchange, returned to work full time in Singapore on 1 January 2020 after a three year secondment overseas She has the following stock options which were granted to her in 2016 and 2020 In 2016, a stock option for 10,000 shares at an exercise price of $1 00 each was granted to Mirka when she was working for an Australian subsidiary of M Ltd In 2020, a stock option for 25,000 shares at an exercise price of $1 50 each was granted to Mirka 50 of these shares had a sales restriction of 24 months from the date of exercise What is Mirkas total taxable stock option income for the year of assessment 2021 $38,750 $57,500 $37,500 $18,750

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1. The expenses incurred by The Friendly Store (a sole proprietorship) in the year ended 31 December 2020 include the following: Voluntary central provident fund

1. The expenses incurred by The Friendly Store (a sole proprietorship) in the year ended 31 December 2020 include the following:

Voluntary central provident fund (CPF) contributions (see note)	$ 5,000
Statutory CPF contributions	20,000
Interest on late CPF contributions	800
	25,800

Note: The voluntary CPF contributions were made in accordance with the terms of The Friendly Stores employment contracts.

What is the total amount, in respect of these expenses, which The Friendly Gas Pte Ltd can claim as a deduction for the year of assessment 2021?

$25,000
$20,800
$25,800
$20,000

2. Sally acquired a shop house on 1 January 2020 and rented it out from 1 July 2020. Details of Sallys rental income and expenses are as follows:

Rental income	$ 96,000
Less:
Maintenance costs (1 January to 31 December 2020)	(10,000)
Commission to secure the first tenant	(8,000)
Mortgage interest (1 January to 31 December 2020)	(20,000)
Net income	58,000

What is Sallys taxable rental income for the year of assessment 2021?

$73,000
$81,000
$66,000
$61,600

Mirka, the chief financial officer of M Ltd, a company listed on the Singapore Exchange, returned to work full-time in Singapore on 1 January 2020 after a three-year secondment overseas.

She has the following stock options which were granted to her in 2016 and 2020:

In 2016, a stock option for 10,000 shares at an exercise price of $1.00 each was granted to Mirka when she was working for an Australian subsidiary of M Ltd.

In 2020, a stock option for 25,000 shares at an exercise price of $1.50 each was granted to Mirka. 50% of these shares had a sales restriction of 24 months from the date of exercise

What is Mirkas total taxable stock option income for the year of assessment 2021?