(5) A dividend of US$2,000 (S$2.800) was received in respect of Molly's shareholding in LC. The amount was credited to Molly's Singapore bank account on July 10, 2019. Molly provided a loan to her best friend in Singapore in 2018. Her friend could repay the loan and an interest of $2,300 together with the loan amount was credited to Molly's bank account in Singapore in November 2019. (6) (7) Molly sold 10,000 shares in LC in December 2020 and derived a gain of S$7,000 Required: (a) Compute the minimum income tax payable by Molly for the year of assessment 2020, indicating "O on items which are tax exempt or are not taxable/deductible. For personal reliefs, all relevant reliefs based on information given should be accounted for in the tax computation and where it is not available, please insert "0" (34 marks) (b) Explain the tax treatment of the compensation for loss of employment and the special ex-gratia payment (included in the retrenchment payment), which you have adopted in part (a) above and the basis to support it. (6 marks) (5) A dividend of US$2,000 (S$2.800) was received in respect of Molly's shareholding in LC. The amount was credited to Molly's Singapore bank account on July 10, 2019. Molly provided a loan to her best friend in Singapore in 2018. Her friend could repay the loan and an interest of $2,300 together with the loan amount was credited to Molly's bank account in Singapore in November 2019. (6) (7) Molly sold 10,000 shares in LC in December 2020 and derived a gain of S$7,000 Required: (a) Compute the minimum income tax payable by Molly for the year of assessment 2020, indicating "O on items which are tax exempt or are not taxable/deductible. For personal reliefs, all relevant reliefs based on information given should be accounted for in the tax computation and where it is not available, please insert "0" (34 marks) (b) Explain the tax treatment of the compensation for loss of employment and the special ex-gratia payment (included in the retrenchment payment), which you have adopted in part (a) above and the basis to support it. (6 marks)