Betty owns two residential investment properties in Singapore which are rented out. She has the following income for the year 2020: Net rent surplus of $10.000 from Property 1 Net rent deficit of $11,500 from Property 2 Interest income from loan to her company of $1,500 The amount of taxable income derived by Betty for the Year of Assessment 2021 is: Group of answer choices a) $11,500. b) $1,500 c) $0 d) None of the above
Betty owns two residential investment properties in Singapore which are rented out. She has the following income for the year 2020: Net rent surplus of $10.000 from Property 1 Net rent deficit of $11,500 from Property 2 Interest income from loan to her company of $1,500 The amount of taxable income derived by Betty for the Year of Assessment 2021 is: Group of answer choices a) $11,500. b) $1,500 c) $0 d) None of the above
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Q4) Betty owns two residential investment properties in Singapore which are rented out. She has the following income for the year 2020:
Net rent surplus of $10.000 from Property 1
Net rent deficit of $11,500 from Property 2
Interest income from loan to her company of $1,500
The amount of taxable income derived by Betty for the Year of Assessment 2021 is:
Group of answer choices
a) $11,500.
b) $1,500
c) $0
d) None of the above
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