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Question 3 (Total 15 marks) Mr. Leung owns a flat which he lets on a two year lease commencing on 1 June 2020 for a premium of HK$240,000, monthly rental of HK$30,000 and a monthly service fee of HK$1,500. Mr. Leung paid rates of HK$6,500, government rent 4,000 and incurred HK$28,000 on essential repairs during March 2021. (15 marks) Required Calculate the property tax payable for 2020/21. (Ignore rates concession and provisional tax) Question 3 (Total 15 marks) Mr. Leung owns a flat which he lets on a two year lease commencing on 1 June 2020 for a premium of HK$240,000, monthly rental of HK$30,000 and a monthly service fee of HK$1,500. Mr. Leung paid rates of HK$6,500, government rent 4,000 and incurred HK$28,000 on essential repairs during March 2021. (15 marks) Required Calculate the property tax payable for 2020/21. (Ignore rates concession and provisional tax)