Taxation And Tax Planning 21st Edition Patrick Kin-wai Ho; Kelvin Po-lung Mak - Solutions

Explain what items are specifically not deductible for a partnership.
Explain what items are specifically not deductible for a sole proprietor.
Explain how Sections 16H to 16L operate on the deduction of capital expenditure incurred on environmental protection facilities.
Explain how Section 16G operates on the deduction of expenses incurred on the purchase of prescribed fixed assets.
Explain how Section 16F operates on the deduction of expenses incurred on refurbishment.
Explain how Sections 16E and EA operates on the deduction of expenses incurred on the acquisition of intellectual property.
Explain how Section 16D operates on the deduction of charitable donations.
Explain how Section 16C operates on the deduction of expenditure incurred on technical education.
Explain how Section 16B operates on the deduction of expenditure on R&D activities.
Explain how Section 16AA operates on the annual contributions made for sole-proprietorship and partnership businesses.
Explain how Section 16A operates on initial and special contributions made to approved retirement schemes.
Explain the general principles governing the specific deductions under Sections 16A to 16L.
Explain the principle of deduction of interest expense in Zeta Estates Ltd. v CIR.
Explain when interest paid in respect of a loan financing a project for a property developed for earning a steady inflow of rental income.
Explain when interest paid in respect of a loan financing a project for a property developed for sale.
Explain whether interest paid by a qualifying corporate treasury centre is deductible under Section 16(2CA) and 16(2CC).
Explain when interest paid in respect of listed debentures or marketable instruments purchased by associates is deductible under Section 16(2C).
Explain when interest paid in respect of a loan sub-participated by an advance or another loan is deductible under Section 16(2B).
Explain whether interest paid by a qualifying corporate treasury centre is deductible under Section 16(2)(g).
Explain when interest paid in respect of listed debentures or marketable instruments under Section 16(2)(f).
Explain when interest paid to a financial institution is deductible under Section 16(2)(d).
Explain when interest paid to an entity not a financial institution is deductible under Sections 16(2)(c) and 16(2)(e).
Explain when interest paid by a public utility company is deductible under Section 16(2)(b).
Explain when interest paid by a LAC banking entity is deductible under Section 16(2)(ab).
Explain when interest paid by a financial institution is deductible under Section 16(2)(a).
Explain when interest expenses are deductible under profits tax.
Explain what expenses are specifically not deductible under profits tax.
Explain what payments in respect of retirement schemes are deductible under profits tax.
Explain when a gratuity paid upon retirement or termination of employment is deductible under profits tax with examples.
Explain when bad debts, legal expenses, removal expenses and tax paid are deductible or not deductible under profits tax.
Explain how to distinguish between capital expenditure and revenue expenditure with examples.
Explain when an expense is deductible under profits tax.
Explain briefly how the foreign-sourced income exemption regime affects the charge of interest, dividend, disposal gain on the sale of equity interest and intellectual property income derived outside Hong Kong.
Explain briefly the profits tax treatments of alternative bond schemes.
Explain the exemption available under Sections 26 and 26A.
Explain under what situation a forfeited deposit is taxable.
Explain how the sales proceeds for disposal of patents are treated under profits tax.
Explain how the various receipts under a stock borrowing and lending arrangement are treated under profits tax. axe bill of sidiubah
Explain how the transfer of rights for receiving income is chargeable under profits tax.
Explain the different bases for valuation of trading stock at the cessation of business, for self- consumption and sale at undervalue.
Explain how gains from certificates of deposit are taxable.
Explain the difference between interest exempt from profits tax and interest exempt from payment of profits tax.
Explain when interest income is chargeable to or exempt from profits tax.
Explain how Section 15(1) is applicable to various types of deemed trading receipts.
Explain when the premium received for the use of an immovable property is subject to profits tax or property tax.
Explain when the compensation received for breach of contract is taxable.
Explain when the compensation received for loss of an asset is taxable.
Explain the profits tax position regarding fair value accounting.
Explain the profits tax effect when a trading asset is reclassified as a capital asset.
Explain the profits tax effect when a capital asset is reclassified as a trading asset.
Explain the general principles governing the charge of income under profits tax.
Explain the preferential tax treatment of the income of a qualifying corporate treasury centre (QCTC).
Explain the preferential tax treatment of income derived from qualifying reinsurance and captive insurance businesses.
Explain the preferential tax treatment of income derived from qualifying debt instruments.
Explain how to determine the source of income for electronic commerce transaction.
Explain how to determine the source of income for provision of guarantee services.
Explain the issues raised in the HK-TVB International Ltd. case.
Explain how to determine the source of royalty income with case law.
Explain the issues raised in the Orion Caribbean Limited case, and how they were resolved.
Explain how the profits tax liability of deposit interest income may be relieved.
Explain how to determine the source of interest income.
Explain how to determine the source of income derived from services rendered with supporting cases.
Distinguish the operations of a processing agreement and an independent sub-contractor in the Mainland and how the profits from these two sources are determined.
Describe the rules for determining source of trading profit as described in DIPN 21 and the Magna case.
List the four common tests used to determine the source of profit.
Explain the general principles for the determination of source of profits described in the Hang Seng Bank case and DIPN
Explain the relevant Hong Kong tax issues concerning business transactions carried out in the digital economy.
Explain how the assessable profits of a Hong Kong branch of an overseas company may be determined.
Explain the differences between a branch and a subsidiary of an overseas company in the charge of profits tax in Hong Kong.
Explain when tax is required to be withheld at the time of making payment to a non-resident.
Explain the relationship between "permanent establishment" and "carrying on a business in Hong Kong".
Explain when a business is carried on in Hong Kong by a non-resident.
Explain whether the mere depositing of money in a bank would constitute a business carried on in Hong Kong.
Explain the badges of trade and other factors which assist in the determination of the existence of a trade.
Explain the meaning of a "trade" and a "business".
Explain how Section 14 is operated to determine whether an income is chargeable to profits tax.
Solve the double taxation issue with a DTA territory.
List the items that are commonly examined in a salaries tax computation question.
Draft the format of a salaries tax computation.
Explain what types of allowances may be apportioned.
Explain the conditions and procedures for claiming personal disability allowance.
Explain the conditions and procedures for claiming dependent brother and sister allowance.
Explain the conditions and procedures for claiming disabled dependant allowance.
Explain the conditions and procedures for claiming single parent allowance.
Explain the conditions and procedures for claiming dependent grandparent allowance.
Explain the conditions and procedures for claiming dependent parent allowance.
Explain the conditions and procedures for claiming child allowance.
Explain the conditions and procedures for claiming married person's allowance.
Explain when domestic rents are deductible from assessable income.
Explain when MPF voluntary contributions are deductible from assessable income.
Explain when qualifying annuity premiums are deductible from assessable income; and
Explain when health insurance premiums are deductible from assessable income;
Explain when contributions to a recognised retirement scheme are deductible from assessable income.
Explain when home loan interest is deductible from assessable income.
Explain when elderly residential care expenses are deductible from assessable income.
Explain when charitable donations are deductible from assessable income.
Explain the differences between deductions under salaries tax and concessionary deductions.
Explain when self-education expenses are deductible under salaries tax.
Explain when depreciation allowances are deductible under salaries tax.
Explain when outgoings and expenses are deductible under salaries tax.

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Taxation And Tax Planning 21st Edition Patrick Kin-wai Ho; Kelvin Po-lung Mak - Solutions

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