Hi, can you answer this Multiple-Choice Questions?

Subject: Taxation and Estate Planning

Choose the BEST answers

(Related US is ok)

6. The Inland Revenue Ordinance excludes the following income from the charge to salaries tax: (i) Lump sum received under a mandatory provident fund or a recognized retirement scheme. (ii) Scholarships received by full time students. (iii) Periodic payments in the nature of alimony or maintenance received by a person from his/her spouse or former spouse. (iv) Payment made in lieu of notice. (A) (i) and (ii) only. (i), (ii) and (iv) only. (i), (ii), (iii) and (iv). (B) (D) (i) and (iii) only. (i), (ii) and (iii) only. (E) 7. Which of the following statements about outgoings and expenses in salaries tax are correct? (iExpenses incurred due to domestic or personal circumstances of a taxpayer are not allowed to be deducted as outgoings and expenses. (ii) Wholly and exclusively concept refers to the entire amount of expenditure should be spent for the sole purpose of producing the assessable income. And, when the expenditure is incurred for more than one purpose, the practice is that such expenditure could not be apportioned. (iii) Necessarily concept refers to the expenditure must be essential to the production of assessable income. (A) (C) (E) (i) only. (ii), and (iii) only. (i), (ii), and (iii). (B) (D) (i), and (iii) only. (i), and (ii) only. 8. Which of the following statements about salaries tax assessment are correct? (i) The post of a director is created by the Companies Ordinance, and a company cannot be without a director at any time, therefore, it is defined as an office. (ii) An office is a position which exists by itself and is independent of the person who fills it. (iii) An office has been judicially defined as a permanent substantive position which has an existence independent of the person who fills it, and which goes on existing and is filled by successive holders." (iv) The office income of a director of a company managed and controlled in Hong Kong is fully taxable irrespective of whether the director has rendered any services in Hong Kong. It is because the 60-day exemption applies to an office. (A) (C) (E) (i), and (ii) only. (i), (ii), and (iii) only. (i), (ii), (iii), and (iv). (B) (D) (ii), and (iii) only. (i), (iii), and (iv) only. 9. Which of the following statements about the treatment of specific types of expenses are incorrect? (i) Travelling expenses between home and the place of employment are allowable because the cost meets the wholly and exclusively and necessarily requirements. (ii) A subscription to a professional body will be allowable to be deducted as expense, provided that the retention of membership in the body is a perquisite of the employment and the retention of membership and keeping abreast of current development in that particular profession is of regular use and benefit in the employment. (111) Salary paid by the employee in lieu of proper notice of resignation required by the employment contract is incurred in the production of assessment income and thus it is allowed to be deducted as expense. (A) (C) (E) (i) only. (iii) only. (ii), and (iii) only. (B) (ii) only. (D) (1), and (iii) only. 10. The housing benefit covers the following situation(s): (i) The employer or associated corporation owns a place of residence and allows the employee to occupy it rent-free or at a rent below the rental value. (ii) The employer or associated corporation leases a place of residence and allows the employee to occupy it rent-free or for a consideration payable to the employer or associated corporation which is below the rental value. (111) The employee leases a place of residence and the employer or associated corporation refunds part or all of the rent. (A) (C) (E) (ii) only. (i), and (iii) only. (i), (ii), and (iii). (B) (D) (i), and (ii) only. (ii), and (iii) only. 6. The Inland Revenue Ordinance excludes the following income from the charge to salaries tax: (i) Lump sum received under a mandatory provident fund or a recognized retirement scheme. (ii) Scholarships received by full time students. (iii) Periodic payments in the nature of alimony or maintenance received by a person from his/her spouse or former spouse. (iv) Payment made in lieu of notice. (A) (i) and (ii) only. (i), (ii) and (iv) only. (i), (ii), (iii) and (iv). (B) (D) (i) and (iii) only. (i), (ii) and (iii) only. (E) 7. Which of the following statements about outgoings and expenses in salaries tax are correct? (iExpenses incurred due to domestic or personal circumstances of a taxpayer are not allowed to be deducted as outgoings and expenses. (ii) Wholly and exclusively concept refers to the entire amount of expenditure should be spent for the sole purpose of producing the assessable income. And, when the expenditure is incurred for more than one purpose, the practice is that such expenditure could not be apportioned. (iii) Necessarily concept refers to the expenditure must be essential to the production of assessable income. (A) (C) (E) (i) only. (ii), and (iii) only. (i), (ii), and (iii). (B) (D) (i), and (iii) only. (i), and (ii) only. 8. Which of the following statements about salaries tax assessment are correct? (i) The post of a director is created by the Companies Ordinance, and a company cannot be without a director at any time, therefore, it is defined as an office. (ii) An office is a position which exists by itself and is independent of the person who fills it. (iii) An office has been judicially defined as a permanent substantive position which has an existence independent of the person who fills it, and which goes on existing and is filled by successive holders." (iv) The office income of a director of a company managed and controlled in Hong Kong is fully taxable irrespective of whether the director has rendered any services in Hong Kong. It is because the 60-day exemption applies to an office. (A) (C) (E) (i), and (ii) only. (i), (ii), and (iii) only. (i), (ii), (iii), and (iv). (B) (D) (ii), and (iii) only. (i), (iii), and (iv) only. 9. Which of the following statements about the treatment of specific types of expenses are incorrect? (i) Travelling expenses between home and the place of employment are allowable because the cost meets the wholly and exclusively and necessarily requirements. (ii) A subscription to a professional body will be allowable to be deducted as expense, provided that the retention of membership in the body is a perquisite of the employment and the retention of membership and keeping abreast of current development in that particular profession is of regular use and benefit in the employment. (111) Salary paid by the employee in lieu of proper notice of resignation required by the employment contract is incurred in the production of assessment income and thus it is allowed to be deducted as expense. (A) (C) (E) (i) only. (iii) only. (ii), and (iii) only. (B) (ii) only. (D) (1), and (iii) only. 10. The housing benefit covers the following situation(s): (i) The employer or associated corporation owns a place of residence and allows the employee to occupy it rent-free or at a rent below the rental value. (ii) The employer or associated corporation leases a place of residence and allows the employee to occupy it rent-free or for a consideration payable to the employer or associated corporation which is below the rental value. (111) The employee leases a place of residence and the employer or associated corporation refunds part or all of the rent. (A) (C) (E) (ii) only. (i), and (iii) only. (i), (ii), and (iii). (B) (D) (i), and (ii) only. (ii), and (iii) only