ACCT3161_ass2_1011_2nd

ACCT3161_ass2_1011_2nd - THE CHINESE UNIVERSITY OF HONG...

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THE CHINESE UNIVERSITY OF HONG KONG School of Accountancy ACCT 3161 – Taxation ( 2 nd Term , 20 10-2011 ) (Second Term, 2005-2006) Assignment 2 Due Date: March 4, 2011 4:00 pm Question 1 Mr. Au was an American Chinese whose home was In the USA. He commenced his employment with Park Inc., a company incorporated in the USA, as the Regional Marketing Director of its branch office in Hong Kong on 1 May 2008. One of his duties was to travel over South-east Asian countries such as Singapore and Vietnam to oversee Park Inc.'s business in these countries. His employment contract was concluded in San Francisco before his arrival at Hong Kong. Mr. Au's remuneration was remitted by Park Inc. from the company's bank account to Mr. Au's bank account maintained in Hong Kong in Hong Kong dollars. During the year of assessment 2008/09, Mr. Au spent 90 days in Hong Kong. His salaries for the period from 1 May 2008 to 31 March 2009 were $700,000 and Park Inc. provided him with a flat rent-free. However, Park Inc. had to pay $20,000 per month to the landlord. You are required to compute Mr. Au's assessable income for the year of assessment 2008/09 with detailed explanation. Data file: ch/ACCT3161_ass1_1011_2nd Page 1
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Question 2 Mr. Donald is an American citizen and has been employed by McBush Automobile Inc., an American company, for many years. On 1 April 2008, he was seconded to Hong Kong to oversee the company's business activities in South-east Asia. He is now the South-east Regional Sales Director of the Hong Kong subsidiary, and has to report to the Managing Director of the Hong Kong subsidiary. Mr Donald stayed in
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This note was uploaded on 02/04/2012 for the course ACCT 3161 taught by Professor Kwong during the Spring '11 term at CUHK.

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ACCT3161_ass2_1011_2nd - THE CHINESE UNIVERSITY OF HONG...

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