Group Work - Salaries Tax (2) Ian Jones, a Canadian, is employed by a US Company (managed and controlled in the US) as its Far East regional sales manager. His contract of employment was concluded and enforceable in the US. He is required to travel to different countries to perform his duties. Ian Jones visited the following places during the year ended 31 March 2014: Ian Jones received the following income during the year ended 31 March 2014: - salary of $1,050,000 - living allowance of $128,000 (the allowance was granted to Ian Jones for his service rendered in Hong Kong) - holiday allowance of $60,000 (fully used by Ian Jones for travel) - education allowance of $48,000 for his son's tuition fee. (It is the liability of his employer to pay the tuition fee.) While in Hong Kong, Ian Jones was also appointed as a director of Soft Ltd., a subsidiary of the US company, managed and controlled in Hong Kong. He received a director fee of $65,000. He only spent 31 days on performing his director's duties for Soft Ltd. During the year ended March 2014, Ian Jones was provided with a flat rent free by Soft Ltd in Discovery Bay. Soft Ltd also provided Ian Jones with the use of a company car in Hong Kong for private purpose. The market value for the use of the company car was $110,000. Car maintenance cost of $17,000 was incurred by Soft Ltd during the year (as company's liability). Ian Jones did not incur any allowable expenses during the year. Required Compute the Assessable Income of Ian Jones under salaries tax for the year of assessment 2013/14. (Notes not required)