1.Miss Lee is the assistant accountant of a Hong Kong company. She received her notice of assessment for salaries tax for the year of assessment 2020/21 three months ago. She was too busy at that moment that she did not examine the notice of assessment in details. She subsequently discovered that she has forgotten to claim the HKICPA membership fees in her tax return filed for the year of assessment 2020/21. In this case, Miss Lee can

I. lodge a late objection.

II. apply to hold over the total tax payment until the 2020/21 assessment is revised.

III. lodge an error or omission claim on or before 31 March 2027.

a.III only.

b.I only.

c.II only.

d.I and II only.

2.All of the following are not eligible for salaries tax deduction except:

a.tuition fee paid to The University of Hong Kong for an accounting programme by a sales executive, with a view of changing his career to the accounting field.

b.payment in lieu of notice made by an employee to terminate his employment contract.

c.subscription fee paid to a social club by a marketing manager for the purpose of fostering business contacts.

d.legal expense incurred by an employee to recover outstanding salary from a former employer.

3.

Peter is employed by IBM Ltd as the companys accounting manager. During the year ended 31 March 2021, Peter was paid a salary of $910,000 and was provided with a hotel serviced apartment with one room by IBM Ltd. Peter is a member of the HK Jockey Club and ACCA for which he pays membership fees of $1,200 and $2,500 respectively.

What is Peters net assessable income for the year of assessment 2020/21?

a.$942,552.

b.$996,250.

c.$998,250.

d.$943,800.