This is in relation to Singapore's tax system and statutes Henry Soo, 62 years old is a Singapore citizen and an ex-NSman. He is married with two daughters aged 26 and 30 respectively, all are Singapore citizen. Younger daughter is studying full time in UK in 2018 for a 2-year master degree course in music therapy and eldest daughter is a senior nurse working in a local hospital.

Henry is employed by a large corporation (LCC) incorporated, tax resident in Singapore and listed on Singapore Exchange. He is with LCC for more than 20 years and decided not to accept the offer of re-employment to continue his employment in the company when he turned 62 in July 2018.

Henrys last day of service with LCC is July 31, 2018. His received the following from his employer in 2018:

(i) Monthly salary of $8,000.

(ii) Henry received a non-contractual performance bonus of $15,000 in March 2018 for his good performance in 2017.

(iii) Encashment of un-utilised annual leave, amounting to $3,200.

(iv) Incentive award of $700 for an innovative suggestion in Kaizen Project.

(v) Retirement gratuity of $10,000 in appreciation for his long service years with the company.

(vi) In April 2018, Henry exercised his last tranche of stock option to purchase 10,000 shares (in LCC) at $3. The market value of the shares then was $3.8 per share.

Additional information for the year ended December 31, 2018:

(i) Henry received dividends of $12,000 from his investments in LCC shares.

(ii) Henry earned an interest of $2,000 from a 12-month fixed deposit placement with UOB, matured on August 12, 2018. He gave instruction to the bank to roll over the principle sum and interest for another 12-month fixed deposits placement.

(iii) Henry and his wife, Rose Mary co-owned a private condominium, and both are having equal share in the property. The couple leased out the unit for a monthly rental income of $3,500 and the tenancy agreement is for 18 months from August 2017. The related expenses incurred for the year ended December 2018 were as follows:

(1) Property Tax - $4,200

(2) Fire Insurance - $1,500

(3) Repair and maintenance (interior) - $600

(4) Estate maintenance fee - $3,600

(5) Interest on housing loan - $6,000

(iv) Rose Mary had a windfall of $10,000 in a Toto betting.

Required:

Compute the minimum tax payable by Henry and Rose Mary for year of assessment 2019, indicating 0 on items which are tax exempt or are not taxable / deductible. For personal relief, all relevant reliefs based on information given, should be accounted for in the tax computation and where it is not available, please insert 0.

For reference:

Employee Age (years)		CPF Contribution Rates
Employer (% of wage)		Employee (% of wage)
55 and below	17		20
Above 55 to 60	13		13
Above 60 to 65	9		7.5
Above 65	7.5		5