18
Start : Chap 12 Pg 186 (Chap 12 MCQ) End : Chap 14 Pg 226 (End Chap 14)
Start : Chap 12 Pg 186 (Chap 12 MCQ)
End : Chap 14 Pg 226 (End Chap 14)
Test – 2
Multiple Choice Questions
F6 - Taxation
Ms. Yvonne Goh
Name - _________________
Student ID - _____________
E-mail ID - ______________
Please write answers in the below given column.
Question No. Answer
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Score: /10
F6 (SGP) CHAPTER 12 – EMPLOYMENT INCOME
(DECEMBER 2016 EXAM)
©Yvonne Goh (2016) 186
MCQ 1
Belinda, a Singapore citizen, received the following employment benefits in 2015.
Salary $60,000
Bonus $10,000
Transport allowances $3,000 ($2,000 for business)
Leave passage $10,000
What is the total taxable employment income?
(a)$83,000
(b)$73,000
(c)$71,000
(d)$81,000
MCQ 2
Maxwell, a US national, was employed in Singapore from 1 May 2015 for a period of
two years. As part of his remuneration package, he was given the following
perquisites in 2015.
Salary $80,000
Relocation passage to move to Singapore $10,000
Leave passage back to US (given on due claim) $15,000
Driver & reimbursed car expenses* $8,000
*Total mileage driven in 2015 was 16,000 km, of which 60% was for business
purposes
What is the total amount of taxable employment income for YA 2016?
(a)$115,000
(b)$96,850
(c)$86,200
(d)$88,650
F6 (SGP) CHAPTER 12 – EMPLOYMENT INCOME
(DECEMBER 2016 EXAM)
©Yvonne Goh (2016) 187
MCQ 3 (Specimen Paper MCQ3)
Gregory commenced employment as the chief financial officer of DDZZ Ltd, a
Date of
award of
option option
Exercise
Price
($)
No. of
shares
granted
No. of shares
acquired at
the exercise
of the option
Remarks
1 Jan 2014 2 Feb 2015 2.00 20,000 10,000 The option
was granted to
Gregory whilst
he was
working for
the Australian
subsidiary of
DDZZ Ltd
30 Jun
2015
31 Dec 2015 2.50 10,000 5,000 The option
was granted to
Gregory by
DDZZ Ltd
The following are extracts of the share prices of DDZZ Ltd on certain selected dates:
$
1 January 2014
2 February 2015
30 June 2015
31 December 2015
3.00
3.60
3.50
4.00
How much is the taxable option benefit for Gregory in the year of
assessment 2016?
(a)$7,500
(b)$23,500
(c)$31,000
(d)$15,000
F6 (SGP) CHAPTER 12 – EMPLOYMENT INCOME
(DECEMBER 2016 EXAM)
©Yvonne Goh (2016) 188
MCQ 4 (Specimen Paper MCQ 7 Amended)
Mae, a Singapore citizen, returned to Singapore in 2015 upon completion of her
masters degree in Australia. She started working as a research scientist on 1 July
2015.
Her remuneration package is as follows:
– Monthly pay was $4,000.
– A new car costing $120,000 inclusive of certificate of entitlement of $60,000. The
residual value of the car is $30,000. Total mileage driven in 2015 was 10,000 km,
50% of which was for business purposes. The company paid all the running
expenses of the car.
Due to her superb performance, she will be paid a special bonus of $10,000 on 2
February 2016.
How much is Mae’s chargeable income for the year of assessment 2016?
(a)$54,607
(b)$38,679
(c)$28,679
(d)$28,179
Javier
Doris
F6 (SGP) CHAPTER 13 – PERSONAL RELIEFS
(DECEMBER 2016 EXAM)
©Yvonne Goh (2016) 197
Example 1
Mrs Lee, a Singapore citizen has 5 children (normal) who are all eligible for QCR and
WMCR claim. Her earned income in 2015 was $200,000.
Calculate the amount of WMCR she can claim in YA 2016.
MCQ 1
Mrs Tan, a Singapore citizen, has 2 children (normal), of which the first child is not
eligible for QCR claim & WMCR. Her earned income in 2015 was $100,000.
(a)$15,000
(b)$19,000
(c)$20,000
(d)$24,000
F6 – Chap 13
Mary
Assessable
Income
Course fees Can claim Course Fees Relief?
YA 2015 $42,000 $3,000
YA 2016 $30,000
Joanne
Assessable
Income
Course fees Course Fees Relief?
YA 2014
YA 2015
YA 2016
YA 2017
$18,000
$20,000
$21,000
$24,000
$4,000
$2,000
