T2 - BUSI 0018 Hong Kong Taxation Tutorial Questions Unit 2...

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TQ_U2_Property_0910 1 BUSI 0018 – Hong Kong Taxation Tutorial Questions Unit 2 – Property Tax Question 4 (a) Explain the conditions under which a person is subject to Hong Kong Property Tax. (b) Miss Chan purchased a residential property in March 2006. It was let out on 1 June 2006 on the following terms: 1. Term of lease: 2 years from 1 June 2006. 2. Rent: $15,000 per month for the first year and $16,500 for the second year (payable on the 1st day of each month). 3. Initial premium: $225,000, payable on 1 June 2006. 4. Rates: $3,200 per quarter, payable by tenant. 5. Management fee: $1,900 per month, payable by tenant to landlord. Miss Chan paid mortgage interest of $25,000 per month to the bank in respect of the aforesaid property for a period of 10 years commencing from 1 March 2006. Required: Based on the information given above, compute Miss Chan's property tax liabilities for the years of assessment 2005/06, 2006/07 and 2007/08. Ignore provisional tax in your calculation.
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TQ_U2_Property_0910 2 Question 5 Mr. Mo bought a shop unit in Chaiwan on 1 August 2007. The shop unit was let to a retail company on 1 September 2007 on the following terms: 1. Term of lease: 3 years from 1 September 2007 plus 2-year renewal option
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T2 - BUSI 0018 Hong Kong Taxation Tutorial Questions Unit 2...

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