Ken derived the following in the year 2021: (i) Rental surplus of $5,000 from Property 1. (ii) Rental deficit of ($6,000) from Property 2. (iii) Interest income of $12,000 from maturity of fixed deposit placement with DBS Bank, an approved bank in Singapore. (iv) Commission of $10,000 from brokering a property rental arrangement. What is Ken’s taxable income for Year of Assessment 2022?

Ken derived the following in the year 2021: (i) Rental surplus of $5,000 from Property 1. (ii) Rental deficit of ($6,000) from Property 2. (iii) Interest income of $12,000 from maturity of fixed deposit placement with DBS Bank, an approved bank in Singapore. (iv) Commission of $10,000 from brokering a property rental arrangement. What is Ken’s taxable income for Year of Assessment 2022?

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 20DQ

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