May and Peter, both are 32, have been married for 4 years. Peter, a sale manager in an international retail store at a monthly salary of $35,000 and monthly commission of $8000. May is a full-time clerk of a trading company with a monthly salary of $21000. They only make mandatory contributions to their MPF schemes.
Currently, they have no children but plan to have a baby next year. After giving birth, May will be a full-time Mum and not work for several years. They presently live with May’s parents (aged 62 and 56) in an apartment in Yuen Long. The family’s other monthly expenses total at $18,000. Besides the aforementioned expenses, Peter gives his parents (aged 64 and 58) $6,500 allowance monthly.
Both Peter’s and May’s employers provided basic medical insurance. Both Peter and May purchased a whole life insurance for each other. The beneficiary of Peter’s life insurance is May; while the beneficiary of May’s life insurance is Peter. The insured amount of Peter is $2,500,000 while the insured amount of May is $1,500,000. Currently, they have no will. They appreciate the importance of such estate planning tool, especially when they have a baby.
Peter and May currently have $950,000 in their bank account and they do not have much investment experiences. They plan to use a major portion of this cash for down payment for a flat of $3,500,000. Peter and May plan to use another, relatively smaller, portion of this cash for investment.

Compute the amount of salaries tax payable (excluding provisional tax and tax reduction) by the taxpayer with the following additional data, if
Choice 1: Peter and May elect separate assessments
Choice 2: Peter and May elect joint assessments
Donations $60,000 cash