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Mr. Wong bought a residential property in North Point on 1 November 2017, he paid $100,000 to an interior designer to refurbish the property and

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Mr. Wong bought a residential property in North Point on 1 November 2017, he paid $100,000 to an interior designer to refurbish the property and let it to Mr. Donald on the following terms: (i) Lease term: two years from 1" February 2018 (ii) Rent: $9,500 per month payable on the first day of each month (iii) Rental deposit: $20,400 payable on signing the tenancy agreement (iv) Rates: $1,650 per quarter payable by Mr. Wong. (v) Management fee: $700 per month payable by Donald to Building Management Office based on the terms of the tenancy agreement. Donald failed to pay the rent and management fee started from 1 March 2019 onwards. When Mr. Wong visited the property on 30 April 2019, he found that Donald has gone beyond trace. Mr. Wong paid the overdue management fee for the period from March to April 2019. The IRD accepted that the debt has become irrecoverable on 30 April 2020. Mr. Wong repossessed the property and paid $20,000 to an interior designer to refurbish the property. The property was let to Ms. Betty on the following terms: (i) Lease term: Ten months from 1 July 2019. (ii) Rent: $9,700 per month payable on the first day of each month. (iii) Rental deposit: $10,000 payable on signing the tenancy agreement (iv) Rent free period: Half month from the start of the tenancy agreement. (v) Lease premium: $12,000 payable on signing the tenancy agreement. (vi) Rates: $1650 per quarter payable by Mr. Wong. (vii) Management fee: $700 per month payable by Mr. Wong (viii)Betty paid $600 to do painting of the wall in the dining room with the permission of Mr. Wong. (ix) Mr. Wong paid an agency fee of 3,000 to the real-estate agent and $200 for stamp duty of the tenancy agreement. Required: Compute Mr. Wong's property tax liability for the year of assessment 2017/18, 2018/19 and 2019/20. Ignore provisional tax

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