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Ms. L had the following lease agreement with Mr. T: Lease period: 1 Apr 2022 - 31 Mar 2024 Monthly rents: $10,000 payable at the
Ms. L had the following lease agreement with Mr. T: Lease period: 1 Apr 2022 - 31 Mar 2024 Monthly rents: $10,000 payable at the beginning of each month. Rent deposit payable 1 Apr 2022 (refundable 31 Mar 2024): $10,000 (one month's rent) Damage deposit payable 1 Apr 2022 (refundable 31 Mar 2024): $5,000 Ms. L incurred the following expenses in relation to the property: Monthly salary for cleaning maid: $1,000 Calculate Ms. L's property tax liability for 2022/23. (Hint: would it be income if you have to pay it back?).
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