Question $2$

On $1$ April $2019,$ Mr Wong acquired a residential property in Hong Kong $("$Property$").$ Mr Wong leasedthe Property to Mr Ho based on a written lease agreement dated $15$ June $2019$ with the following terms:

$(1)$ Term of lease

$2$ years from $1$ July $2019$

$(2)$ Monthly rent

HK$$15,000$ payable in advance at the beginning of each month

$(3)$ Refundable deposit

HK$$30,000$ payable on $1$ July $2018$

$(4)$ Rates

HK$$3,000$ per quarter $($after rates concession, if any$)$ payable by MrWong

$(5)$ Management feesHK$$1,200$ per month payable by Mr Wong

Mr Ho failed to pay rent starting from $1$ January $2021,$ and Mr Wong subsequently discovered that MrHo had left Hong Kong on $1$ June $2021.$ Mr Wong forfeited the deposit placed by Mr Ho$.$

Mr Wong spent HK$$50,000$ to decorate the Property after Mr Ho had moved out of the Property.

Subsequently, Mr Wong leased the Property to Mr Sze based on a written lease agreement dated $15$August $2021$ with the following terms:

$(1)$ Term of lease

$2$ years from $1$ September $2021$

$(2)$ Monthly rent

HK$$18,000$ payable in advance at the beginning of each month

$(3)$ Rent$-$free period

$1$ month from $1$ September $2021$

$(4)$ Premium

HK$$24,000$ payable on $1$ September $2021$

$(5)$ Refundable depositHK$$36,000$ payable on $1$ September $2021$

$(6)$ Rates

HK$$3,600$ per quarter $($after rates concession, if any$)$ payable by MrSze

$(7)$ Management feesHK$$1,300$ per month payable by Mr Wong

On $1$ November $2022,$ Mr Wong received a cheque in the amount of HK$$10,000$ from Mr Ho$.$

Required:

a$)$Compute the property tax payable by Mr Wong for the years of assessment $2021/22$ and$2022/23.$Ignore provisional tax.

$(12$ marks$)$

$($b$)$

In respect of the lease of the Property by Mr Wong to Mr Sze, identify the document$($s$)$ tobe stamped under the Stamp Duty Ordinance, and compute the amount of stamp dutypayable $($if any$).(3$ marks$)$