VI. (5%) Z is a Filipino immigrant living in the United States for more than 10 years. He is retired and he came back to the Philippines as a balikbayan. Every time he comes to the Philippines, he stays here for about a month. He regularly receives a pension from his former employer in the United States, amounting to US$1, 000 a month. While in the Philippines, with his pension pay from his former employer, he purchased three condominium units in Makati which he is renting out for P15, 000 a moth each. Does the US$1, 000 pension become taxable because he is now residing in the Philippines? Reason briefly. Is his purchase of the three condominium units subject to any tax? Reason briefly.