(ii) Compute the amount of salaries tax payable (excluding provisional tax and tax reduction) by...
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(ii) Compute the amount of salaries tax payable (excluding provisional tax and tax reduction) by the taxpayer with the following additional data, if Choice 2: Mr. and Mrs. Lo elect joint assessments (12 marks) Parents Mr. Lo's Mother: Aged 80 Mrs. Lo's Parents: Aged 78 & Aged 76 (both parents live separately) $60,000 cash $55,660 paid during the assessment year Donations Mortgage interest (iii) Should Mr. and Mrs. Lo elect joint assessment? Explain. (2 marks) (ii) Compute the amount of salaries tax payable (excluding provisional tax and tax reduction) by the taxpayer with the following additional data, if Choice 2: Mr. and Mrs. Lo elect joint assessments (12 marks) Parents Mr. Lo's Mother: Aged 80 Mrs. Lo's Parents: Aged 78 & Aged 76 (both parents live separately) $60,000 cash $55,660 paid during the assessment year Donations Mortgage interest (iii) Should Mr. and Mrs. Lo elect joint assessment? Explain. (2 marks)
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