Q1) XYZ Pte Ltd incurred Section 14Q compliant renovation expenses of $120,000 in accounting year 2020. The company had previously incurred Section 14Q compliant renovation expenses of $100,000 and $50,000 in accounting years 2018 and 2019 respectively. Assume the company did not make the option to claim the deduction in one year. What is the deductible Section 14Q renovation expenses for Year of Assessment 2021?

Q2)

Beatrice, an American, was engaged to work on a one-year contract in Singapore from 1 November 2020 to 31 October 2021. She was paid a monthly employment salary of $15,000. She remitted $10,000 rental income from her property in America on 15 December 2020. Her other sources of income for 2020 include interest income of $200 from DBS Ltd, an approved bank. What is her taxable income for the Year of Assessment 2021?

1. $30,000

2. $ 40,000

3. $40,200

4. nil