吾明呀！provisional property tax?:(

2007-11-29 7:57 am

Mr Mao owns property T & let it to Mr. Ng on 1/10/2005 for a term of two years for a monthly rent of $11,000 payable at the beginning of each month. Mr. Ng is required to pay all the rates under the tenancy agreenment.

Your are required to calcualte the property tax liability of Mr. Mao for the year of assessment 2006/07 (final) and the years of assessment 2007/08 (provisional).＋請比埋解釋呀？吾該

回答 (1)

Thomas

2007-11-29 11:54 pm

✔ 最佳答案

The tenancy agreement between Mr. Mao and Mr. Ng from 01/10/2005 to 30/09/2007.
Monthly rental is $11,000.
2006/2007
Annual rental income 01/04/06-31/03/2007 $132,000
Less : 20% statutory repairs ($26,400)
Total assessable income $105,600
Property tax payable due for 2006/2007 15% $15,840
Add:
Provisional property tax for 2007/2008
Annual income 01/04/2007-30/09/2007 $66,000
Less:20% statutory repairs ($13,200)
Total assessable income $52,800
Property tax payable due for 2007/2008 15% $7,920
Total property tax due $23,760

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