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Question 2 (5 points) Gopal derived the following income for year 2021: (i) Interest income from loan to his company XYZ Pte Ltd. The
Question 2 (5 points) Gopal derived the following income for year 2021: (i) Interest income from loan to his company XYZ Pte Ltd. The company's financial year ended on 30 June 2021. (ii) Business income from his sole proprietorship business, Gopal and Sons. The financial year of his sole proprietorship business ended on 30 June 2021. (iii) Rental income from his property at 116 Race Course Road. (iv) Salary from XYZ Pte Ltd. For Year of Assessment 2022, the basis period of Gopal's various income should be A) 1 January to 31 December 2021 for all his income sources. B) 1 July 2020 to 30 June 2021 for business income and 1 January to 31 December 2021 for interest income, rental income and salary. OC) 1 January to 30 June 2021 for interest and business income and 1 January to 31 December 2021 for rental and salary. D) 1 July 2020 to 30 June 2021 for business income and interest income and 1 January to 31 December 2021 for rental income and salary. Question 3 (5 points) Jane was posted to work in Singapore on 1 July 2019 and she ceased her employment on 30 June 2020. What is the basis period of her employment income that will need to be reported in her tax return for Year of Assessment 2021? 1) 1 July 2019 to 31 December 2019. 2) 1 July 2019 to 30 June 2020. 3) 1 January 2020 to 30 June 2020. 4) I January 2021 to 30 June 2021.
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