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*i've post this question part A,B and C seperately but both 3 of the chegg experts didn't Answers my question, they literally ignore my questions(All

*i've post this question part A,B and C seperately but both 3 of the chegg experts didn't Answers my question, they literally ignore my questions(All three of them) and i waited for so long alr... i hope u can help me this time because i desperately need help... Thank you,will be really appreciated. Pls don't ignore me

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All workings must be shown.

Amount

(S$)

Reason why receipt not taxable / expense or personal relief notdeductible

Salary

Bonus

Entertainment Allowance

Motor car benefit

Share option benefit

Long service award

Accommodation benefit

Less: Employment expenses

Net employment income

Trade income

Total Earned Income (Net employment income and trade income)

Dividend

Interest income (OCBC bank)

Interest from loan to company

Remittance of interest income

Gain from sale of shares

Net rental income (show workings separately)

TOTAL INCOME

Less: Approved Donations

ASSESSABLE INCOME

Less: Personal Reliefs

- Earned income relief

- Spouse relief

- CPF relief

- Qualifying child relief

- Working mothers child relief

- Foreign Maid levy relief

- Parent relief

- Grandparent caregiver relief

Total Personal Reliefs

CHARGEABLE INCOME

Tax payable on 1st $XXX

Tax on next $XXX

Net tax payable

Note: For rental income derived by Ms Lim, please show workings separately and consider any applicable concession.

15% Deemed Expenses basis

Property 1

Property 2

Reasons why expense not deductible

Gross rental income

Less: 15% Deemed Rental Expenses

Less: Capital repayment of mortgage loan

Less: Interest on mortgage loan

Net rental income/ (loss)

Not applicable

Net taxable rental, after applicable concession

Actual Expenses incurred basis

Property 1

Property 2

Reasons why expense not deductible

Gross rental income

Less: Expenses incurred

- Fire insurance and property tax

- Maintenance fee

- Replacement of refrigerator

- Minor repairs

- Capital repayment of mortgage loan

- Interest on mortgage loan

Net rental income/ (loss)

Not applicable

Net taxable rental, after concession

it's okay if you don't understand, maybe if you can skip this question so other chegg experts might able to do it. thank you very much

Learning Objective: Understanding of tax residence rules and the application of the rules Preparation of a tax computation for individuals Navigating IRAS website to locate information Question 1: Ms Amanda Lim, aged 45, is a Singaporean married with 2 children, aged 10 and 8 years old as of 31 December 2020. The children are looked after by a foreign maid with a monthly salary and levy of $850 and $60 respectively. Ms Lim's mother, a 65-year-old physically handicapped homemaker with no income of her own lives with Ms Lim and helps to look after her children. Ms Lim made a cash donation of $1,000 to the Singapore Cancer Society, an approved institution of public character as well as donation of toys and clothes worth $2,000 to the Singapore Children's Society, also an approved institution of public character in 2020. Both her children and mother are Singaporeans. Ms Lim's husband is an Australian and he had a total employment income of $200,000 for the year 2020. Ms Lim received the following employment income and benefits in 2020: (1) Monthly salary of $12,000 and contractual bonus of $50,000. (ii) Company share option on 20 May 2020 to acquire 3000 shares with an exercise price of $15 per share. Ms Lim exercised the option on 10 June 2020 and acquired 2000 shares when the share price was $18 per share. She sold 300 shares at $19.50 per share on 17 August 2020 and 1500 shares at $20.50 per share on 30 October 2020. (iii) Entertainment allowance of $1,000 per month, of which 65% is for business purposes. (iv) Cash of $2,000 for long service award in recognition of her 20 years of service with the company. (v) Car with a cost of $150,000 and a PARF value of S35,000. The running expenses of $20,000 are paid by the company. (vi) Fully furnished accommodation with monthly rent of $6,000. Ms Lim contributed a total rent of $12,000 in the year 2020, with the rest paid for by the company. (No annual value given, so assume the rental that's being paid will cover furniture and furnishings.) Ms Lim also has the following income for year 2020: - Singapore one-tier dividend of $5,500. - Interest income from OCBC Singapore, an approved bank of $1,000 Ms Lim also has the following income for year 2020: Singapore one-tier dividend of $5,500. Interest income from OCBC Singapore, an approved bank of $1,000 Interest income of $500 from a loan to a private company, held by her relative. Rental income from two properties in Singapore wholly owned by Ms Lim. The properties have been rented out since 2016. During the year ended 31/12/2020, the income and expenses from the apartment are as follows: Property 1 Property 2 Gross monthly rental $5,000 $2,000 5600 Annual fire insurance and $5,500 $3,500 property tax Monthly maintenance fee $280 Replacement of refrigerator $1,500 Nil Minor repairs for the year S500 Monthly mortgage Capital repayment - $5,500 Capital repayment - $3,500 repayment Interest repayment - $1,200 Interest repayment - $1,600 In addition, Ms Lim remitted interest income of $5,000 from her savings accounts in Australia to Singapore on 30 November 2020. During one of her overseas trips in 2020, Ms Lim bought 500 pieces of pearl necklaces and brought them back to Singapore. She actively sought for potential buyers through social media and sold 400 pieces to buyers both in Singapore and overseas. She made a profit of $10,000. However, due to Learning Objective: Understanding of tax residence rules and the application of the rules Preparation of a tax computation for individuals Navigating IRAS website to locate information Question 1: Ms Amanda Lim, aged 45, is a Singaporean married with 2 children, aged 10 and 8 years old as of 31 December 2020. The children are looked after by a foreign maid with a monthly salary and levy of $850 and $60 respectively. Ms Lim's mother, a 65-year-old physically handicapped homemaker with no income of her own lives with Ms Lim and helps to look after her children. Ms Lim made a cash donation of $1,000 to the Singapore Cancer Society, an approved institution of public character as well as donation of toys and clothes worth $2,000 to the Singapore Children's Society, also an approved institution of public character in 2020. Both her children and mother are Singaporeans. Ms Lim's husband is an Australian and he had a total employment income of $200,000 for the year 2020. Ms Lim received the following employment income and benefits in 2020: (1) Monthly salary of $12,000 and contractual bonus of $50,000. (ii) Company share option on 20 May 2020 to acquire 3000 shares with an exercise price of $15 per share. Ms Lim exercised the option on 10 June 2020 and acquired 2000 shares when the share price was $18 per share. She sold 300 shares at $19.50 per share on 17 August 2020 and 1500 shares at $20.50 per share on 30 October 2020. (iii) Entertainment allowance of $1,000 per month, of which 65% is for business purposes. (iv) Cash of $2,000 for long service award in recognition of her 20 years of service with the company. (v) Car with a cost of $150,000 and a PARF value of S35,000. The running expenses of $20,000 are paid by the company. (vi) Fully furnished accommodation with monthly rent of $6,000. Ms Lim contributed a total rent of $12,000 in the year 2020, with the rest paid for by the company. (No annual value given, so assume the rental that's being paid will cover furniture and furnishings.) Ms Lim also has the following income for year 2020: - Singapore one-tier dividend of $5,500. - Interest income from OCBC Singapore, an approved bank of $1,000 Ms Lim also has the following income for year 2020: Singapore one-tier dividend of $5,500. Interest income from OCBC Singapore, an approved bank of $1,000 Interest income of $500 from a loan to a private company, held by her relative. Rental income from two properties in Singapore wholly owned by Ms Lim. The properties have been rented out since 2016. During the year ended 31/12/2020, the income and expenses from the apartment are as follows: Property 1 Property 2 Gross monthly rental $5,000 $2,000 5600 Annual fire insurance and $5,500 $3,500 property tax Monthly maintenance fee $280 Replacement of refrigerator $1,500 Nil Minor repairs for the year S500 Monthly mortgage Capital repayment - $5,500 Capital repayment - $3,500 repayment Interest repayment - $1,200 Interest repayment - $1,600 In addition, Ms Lim remitted interest income of $5,000 from her savings accounts in Australia to Singapore on 30 November 2020. During one of her overseas trips in 2020, Ms Lim bought 500 pieces of pearl necklaces and brought them back to Singapore. She actively sought for potential buyers through social media and sold 400 pieces to buyers both in Singapore and overseas. She made a profit of $10,000. However, due to

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