Question. 2

Mr. Yang owns a property which he lets to Mr. Yip for a four year period commencing 1 January 2017. The consideration was a lump sum premium of HK$108,000 payable on 1 January 2017 and monthly rental of HK$30,000 payable in advance on the first day of each month.

Required: Compute the assessable value for 2016/17 to 2020/21.

(Show your calculations)

(2 marks) e. Mr. Anger will move back to USA, his home country, and will not back to Hong Kong. He informs his employer that he wishes to terminate his employment on 31 December 2020 and return to USA. What are the obligations of the employer under s52? (5 marks) Question 2 (Total 15 marks) Mr. Yang owns a property which he lets to Mr. Yip for a four year period commencing 1 January 2017. The consideration was a lump sum premium of HK$108,000 payable on 1 January 2017 and monthly rental of HK$30,000 payable in advance on the first day of each month Required Compute th assessable value for 2016/17 to 2020/21. (Show your calculations) (15 marks) Question 3 (Total 15 marks) Mr. Leung owns a flat which he lets on a two year lease commencing on 1 June 2020 for a premium of HKS240,000, monthly rental of HK$30,000 and a monthly service fee of HK$1,500. Mr. Leung paid rates of HK$6,500, government rent 4,000 and incurred HK$28,000 on essential repairs during March 2021. A