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5. Roy Edwards is a resident individual. During the year of assessment 2014 he had income from various sources as follows: - Trade carried on
5. Roy Edwards is a resident individual. During the year of assessment 2014 he had income from various sources as follows: - Trade carried on in Jamaica - \$2,850,000 - Rental income from property in Cayman - $1,700,000 The profit from his trading activities in Jamaica was arrived at after 223 CHAPTER 8 (a) Advise Roy Edwards about his income tax liability for 2014. Indicate any additional information you would need to complete your advice. (b) Would your answer in (a) be different if Roy Edwards was a nonresident individual and he lived in Jamaica for 5 months during the year and he received 50% of his property income in Jamaica? Explain. 5. Roy Edwards is a resident individual. During the year of assessment 2014 he had income from various sources as follows: - Trade carried on in Jamaica - \$2,850,000 - Rental income from property in Cayman - $1,700,000 The profit from his trading activities in Jamaica was arrived at after 223 CHAPTER 8 (a) Advise Roy Edwards about his income tax liability for 2014. Indicate any additional information you would need to complete your advice. (b) Would your answer in (a) be different if Roy Edwards was a nonresident individual and he lived in Jamaica for 5 months during the year and he received 50% of his property income in Jamaica? Explain
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