Calculate the chargeable income for Tairo and the tax payable for the year of assessment 2023...

   

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Calculate the chargeable income for Tairo and the tax payable for the year of assessment 2023 only. In your answer you must explain the treatment of EACH item listed in the question whether it is income, a deduction or not. Marks will be deducted if you do not explain each item. Tairo Chinamasa is aged 32 and works as a land surveyor in Singapore for a large Singaporean construction company. She is single but has a child aged 5 from a previous relationship. Her job requires her to work in Singapore as well as travel to Cambodia, Malaysia, Vietnam and Fiji to service clients of her employer. She spends approximately 85 days in the year overseas. She has a helper (maid) that looks after her child when she is overseas or at work in Singapore. Her maid is from the Philippines. During the year ended 31 December 2022 she received the following RECEIPTS: Salary Protective clothing allowance Car allowance (used own car 45% for work purposes) Work from home allowance (when forced to work from home) Bank interest from Australian bank account Dividend received from Camsing Healthcare Ltd $125,900 $3,000 $6,000 $2,000 $800 a Singaporean public company $1.605 Note 2: She makes voluntary contributions to the CPF at the rate of 7% over the compulsory CPF amounts PAYMENTS: During the year ended 31 December 2022 the following payments were made by: Employer Annual subscription to the Singapore Institute of Surveyors Protective clothing Tairo Membership of the Singapore squash club Seminar on surveying standards held in Singapore Annual subscriptions to Survey Society in Vietnam $500 $1,250 $210 $1,630 $1,358 Calculate the chargeable income for Tairo and the tax payable for the year of assessment 2023 only. In your answer you must explain the treatment of EACH item listed in the question whether it is income, a deduction or not. Marks will be deducted if you do not explain each item. Tairo Chinamasa is aged 32 and works as a land surveyor in Singapore for a large Singaporean construction company. She is single but has a child aged 5 from a previous relationship. Her job requires her to work in Singapore as well as travel to Cambodia, Malaysia, Vietnam and Fiji to service clients of her employer. She spends approximately 85 days in the year overseas. She has a helper (maid) that looks after her child when she is overseas or at work in Singapore. Her maid is from the Philippines. During the year ended 31 December 2022 she received the following RECEIPTS: Salary Protective clothing allowance Car allowance (used own car 45% for work purposes) Work from home allowance (when forced to work from home) Bank interest from Australian bank account Dividend received from Camsing Healthcare Ltd $125,900 $3,000 $6,000 $2,000 $800 a Singaporean public company $1.605 Note 2: She makes voluntary contributions to the CPF at the rate of 7% over the compulsory CPF amounts PAYMENTS: During the year ended 31 December 2022 the following payments were made by: Employer Annual subscription to the Singapore Institute of Surveyors Protective clothing Tairo Membership of the Singapore squash club Seminar on surveying standards held in Singapore Annual subscriptions to Survey Society in Vietnam $500 $1,250 $210 $1,630 $1,358

Answer rating: 100% (QA)

Chargeable Income Calculation for Tairo Chinamasa Year of Assessment 2023 Income Salary 125900 Fully ... View the full answer