Dennis Dan has been transferred from a German parent company to work for its subsidiary in Hong Kong, Dragonet Limited (Dragonet), as the Chief Finance Manager under a two-year contract commencing 1 April 2021. Whilst his employment contract was negotiated and concluded in Germany, his salary would be paid into his bank account in Hong Kong. Dennis stayed the following places during the year of assessment 2021/22: Hong Kong Germany Korea (on vacation) 320 30 15 365 Dennis and his wife, Debbie Dan who is a housewife, provided you with the following information relating to their financial affairs for the year ended 31 March 2022: (i) Dennis' annual salary and bonus amounted to $900,000 (excluding the rental allowance as mentioned in (ii) below). (ii) After he joined Dragonet, the accountant told Dennis that he could structure his remuneration package in whatever manner he wishes. Dennis took his advice and designated $40,000 of his monthly pay as rental allowance with effect from 1 April 2021. However there is no written tenancy agreement between Dragonet and Dennis. (iii) Dragonet provides Dennis with a new car (cost $450,000) in the company's title, which he uses for private and business purposes on a 60:40 basis. (iv) Dragonet also provides him with a petroleum card taken out in the company's name. Dennis charges all his petrol expenditure amounting $20,000 to this card. (v) Dragonet paid for the annual membership fee of $48,000 for Dennis' personal club membership with the Hong Kong Golf Club. Dennis regularly used the club facilities to entertain his own family members as well as Dragonet's staff members.