Exercise $3\mathrm{.}3$

In relation to the year ended $31$ March $2024,$ Mr Wong had the following income and expenditure:

$(1)$ A monthly salary of HK $$60,000.$

$(2)$ A monthly entertainment allowance of $$2,000.$

$(3)$ Traveling allowance of HK $$5,000$ for the year.

$(4)$ Upon recommendation of a director, Mr Wong successfully joined the Hong Kong Jockey Club with effect from $1$ October $2023.$ He paid an entrance fee of $$50,000$ and obtained a reimbursement of HK $$18,000$ of the entrance fee from

Happy.com. Mr Wong often met with the directors and the clients of

Happy.com in the Club.

$(5)$ Mr Wong moved into a leased flat at a monthly rental of $$50,000.$ The lease was signed by Happy.com with the landlord and monthly rental was paid by

Happy.com directly to the landlord. Since the rental exceeds Mr Wong's eligibility limit$,$ Mr Wong paid back $$5,000$ per month to Happy.com for the

provision of housing.

$(6)$ All the utilities accounts $($electricity$,$ gas and water$)$ in the leased flat were registered in the name of Happy.com and the bills were settled by Happy.com directly. The total amount for the year was $$30,000.$

$(7)$ Mr Wong employed a part$-$time helper. The cost for the year, $$20,000,$ was fully reimbursed by Happy.com.

$(8)$ On $1$ May $2023,$ Mr Wong was granted a right to subscribe for $3,000$ shares in

Happy.com, at a price of HK $$12$ for each share. On that date the shares were worth HK$$20$ each. On $17$ July $2023,$ he exercised the option to acquire all of the shares allotted $($market value per share was HK$$16$ on that day$).$ On $15$

February $2024,$ he sold all the shares at HK$$8$ each.

$(9)$ Mandatory contributions of $$18,000$ to a MPF scheme.

Apart from the above, the following additional information is available:

$(10)$ Mr Wong is married with two children. Mrs Wong and the children are staying in UK throughout the year. Their eldest child is $19,$ studying full$-$time in UK and their second child was born in $2019.$ Mrs Wong does not work in UK$.$

$(11)$ Mr Wong has a step mother, aged $60,$ living in the New Territories with her sister. Mr Wong had not seen her since he was twelve, until he came to Hong Kong for this job. Mr Wong gave his step mother $$2,000$ each month towards her living expenses.

$(12)$ During the year, Mr Wong made various charitable donations totaling $$20,000$ to The Community Chest of Hong Kong, of which $$8,000$ was donated for a charity concert. Mr Wong received two complimentary tickets to the concert.

Required:

Assuming that Mr Wong is chargeable under s$\mathrm{.}8(1)$ of the Inland Revenue Ordinance, compute the Hong Kong salaries tax payable by Mr Wong for the year of assessment $2023/24.$