William was the marketing director of a trading company which carries business in Hong Kong. He received an annual salary of HK$700,000 for the year ended 31 March 2022. In December 2021, William took a 10-days trip to Canada to visit his son who is now taking a full-time degree program in the University of Canada. He spent one afternoon to visit one of the major customers. He spent HK40,000 for the entire trip and his employer fully reimbursed him. During the period from 1 April 2021 to 30 September 2021, he and his family lived in a hotel of two rooms which was rented for HK$20,000 per month by his employer. Starting from 1 October 2021 he and his family lived in a flat which was rented by him for HK$25,000 per month and his employer only reimbursed him HK$24,000 per month. Documentary evidence had to be submitted for the reimbursement. During the year ended 31 Mach 2022, William made the following payment:- 1) Paid annual membership fee of HK$4,000 to Chartered Institute of Marketing 2) Donated two computers of HK$8,000 to the Red Cross 3) Paid MPF of HK$20,000 4) Paid care expenses of HK$110,000 to a registered care home for maintaining his grandfather who was 88 years old. William has a son aged 22 and his wife is a housewife who stays in Canada to take care the son. William's parents, both are aged 58, live with him throughout the year. William also maintains his wife's parents, both aged 60, by contributing HK$30,000 to them during the year. His wife's parents lived in a flat which was owned by him in China and he paid mortgage loan interest of HK$88,000 during the year ended 31 March 2022. a) Calculate the salaries tax liability of William for the year of assessment 2021/22. (Ignore provisional tax and tax rebate) b) Based on your answer in (a) above, explain your tax treatment regarding the 10-days trip of HK$40,000 to Canada.

Carmen SanDiego, a U.S. citizen, is employed by General Motors Corporation, a U.S. corporation. On April 1, 2020, GM relocated Carmen to its Brazilian operations for the remainder of 2020. Carmen was paid a salary of $132,000 and was employed on a 5-day-week basis. As part of her compensation package for moving to Brazil, Carmen also received a housing allowance of $28,000. Carmen’s salary was earned ratably over the 12-month period. During 2020 Carmen worked 260 days, 195 of which were in Brazil and 65 of which were in Michigan.How much of Carmen’s total compensation is treated as foreign source income for 2020? (Do not round intermediate calculations.)

7-Ahmed uses his own car for business travel. During 2019/20, Ahmed drove £20,000 miles while performing of his duties. Ahmed's employer paid him 35p a mile. Which one of the following is Ahmed's taxable benefit from mileage allowance as per the UK tax laws? a. £2,500 b. £7,000 c. £4,500 d. None of the options

Lucy is the Finance Director for Capital Products Pty Ltd. Lucy was previously located at the head  office in Adelaide but is currently working from the Canadian office, having relocated there on 1  August 2020. Capital Products anticipate that Lucy will head up the Canadian office for one year with  an option to stay for another one year. Paula’s contract with Capital Products entitles her to a salary  of $600,000 for 2020/21. This is paid at the rate of $50,000 per month.   Lucy sells her shares in Australian companies before she leaves Australia and makes a capital gain of  $16,000. She makes another capital gain of $28,000 in January 2021 when she sells shares in  Canadian companies. Luc’s husband and two small children will remain in Adelaide. Lucy will rent a  studio apartment in Canada and will keep the Adelaide home.  Question  Discuss Lucy’s status (resident or not) for Australian tax purposes for 2020/21 and the tax  implications of the transfer to Canada.

Carmen SanDiego, a U.S. citizen, is employed by General Motors Corporation, a U.S. corporation. On April 1, 2020, GM relocated Carmen to its Brazilian operations for the remainder of 2020. Carmen was paid a salary of $145,000 and was employed on a 5-day- week basis. As part of her compensation package for moving to Brazil, Carmen also received a housing allowance of $31,250 Carmen's salary was earned ratably over the 12-month period. During 2020 Carmen worked 260 days, 195 of which were in Brazil and 65 of which were in Michigan. How much of Carmen's total compensation is treated as foreign source income for 2020? (Do not round Intermediate calculations) Total foreign source compensation

Mio was transferred from New York to Germany. He lived and worked in Germany for 340 days in 2018. Mio's salary for 2018 is $190,000. In your computation, round any division to four decimal places before converting to a percentage. For example, .473938 would be rounded to .4739. If required, round your final answer to the nearest dollar.Assume a 365-day year. Mio's foreign earned income exclusion is

40) Jay Z earned $500,000 for a one-night singing gig in Macau, a zero-tax jurisdiction. He immediately wired those funds to Butterfield Bank in the British Virgin Islands as a three-year bank deposit. Mr. Z earns 7% on her money each year. What is the value of her deposit after three years? (42/19) a) $500,000 b) $507,000 c) $535,000 d) $572,450 e) $612,522

During 2023, Jacob (a self-employed Legal consultant) went from Milwaukee to Hawaii on business. Preceding a five-day business meeting, he spent four days vacationing at the beach. Excluding the vacation costs, his expenses for the trip are: Airfare $3,200 Lodging 900 Meals 800 Entertainment 600 ​ Presuming no reimbursement, deductible expenses are:

Mr. Joplin sells a line of computer software for a company in Western Canada. In 2023, he was paid a base salary of $56,000 and received sales commissions of $88,200. He did not receive an allowance, nor was he reimbursed by his employer for any of his expenses. During the year, Mr. Joplin has the following employment-related expenses. View the expenses. View the additional information. Required Determine Mr. Joplin's employment income for 2023. Ignore all GST/HST and PST implications. k First, calculate the deductible CCA on the automobile used by Mr. Joplin. Enter the employment-related usage proportion as a percentage. Full capital cost allowance Employment-related usage proportion Deductible CCA on automobile Expenses Airline tickets Office supplies and shipping expenses Purchase of laptop computer Client entertainment Cost of new automobile (not zero-emission) Operating expenses of automobile $ 2,380 420 2,095 1,770 47,000 10,700 C X Additional Information Assume that $390 of the…

(a) and (b)