Mr. Stevenson Smith is a Non- Resident in Fiji and has been employed as part time Water treatment Lab Advisor for Fiji Water. As part of his contract he receives the following for 2020.

• Salary of fjd $250,000
• Commission for services fjd $10000
• Entertainment allowance fjd $50000
• Motor vehicle allowance fjd$800 per month.
• Medical benefit of $10000 yearly (Non Cash benefit)

He received a one of payment as restrictive covenant NZD $100000 equivalent to FJD $120000 for his contribution towards NZ water Ltd.

• received a golden hand shake payment for voluntary end of employment with NZ water Ltd amounting to NZ $50000 equiv $FJD 60000.
• owns a property in NZ and earns a monthly lease rental of FJD$15000.
• has invested his saving in one of the financial institution in Fiji amounting to fjd $100000 and earns fjd $100 per month in interest.( No withholding tax been deducted)
• has bought a property near Nadi Airport, which earns him a rental income of fjd$10000 per month.
• has also receives dividend income from a corporate organization for his investment amounting to $900 per year after withholding tax deduction of fjd$100.
• paid fjd $5000 penalty and fjd $500 interest on penalty for delay in paying his Income tax 2015.
• spend fjd $10000 per month on housing and fjd $20000 on his living and private expenditure.
• has donated fjd $50000 towards PM Disaster relieve fund for Tropical cyclone relief.

Required:

Calculate the Income tax for Mr. Smith for the 2020 using the Fiji Income Tax Act 2015.

Answer rating: 100% (QA)

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