TUTORIAL 11 WEEK 12.xlsx - (a) Fraction of Permitted...

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(a) Fraction of Permitted ExpensesFund Manager's remunerationSalaries and wagesMaintenance of register of unit holdersAudit feesSecreterial feeTax compliance feeMaintenance expenses(for its office)Shares registration expensesEntertainmentPostageStationeryCash donation (to government gor Covid-19)DepreciationPermitted expenses(A)rental from letting of its own building(B)Single tier dividendsInterest from Bank Negara Malaysia (bond)Gains from sales of landed propertyLoss from sales of sharesGains from sale of shares listed in KLSE( C )Special deduction is:The HIGHER of:A x B/4COR10% of A (total pA=807,000807,B=2,000,0004C=144,000,000A x B/4C=807,000 x(2,000,000/144,000,000)11,208(ii) Happy Fund Trust (HFT)Tax Computation for the year of assessment 2021Interest Income (from Bank Negara Malaysia)-bond
Single tier divided (exempted under Para 12B of Schedule 6)Rental IncomeAggregate Income(AI)Less: Fraction of permitted expenses11,208A x B/4C=807,000 x(2,000,000/144,000,000)OR10% of A80,70080700Whichever is HIGHERLess; Donation to Government for Covid-19Chargeable IncomeTax PayableTax on RM 1,859,300 at 24%And interest for this ques is exempted
RM600,000-80,00050,00030,000--*not permitted expenses28,000-9,00010,000--807,0002,000,000taxable2,000,00026,000,0001,000,0004,000,000-*recognised Income only3,000,00036,000,000permiatted expenses) incurred in basis period,00080,700Exempted
Exempted2,000,0002,000,000-80,7001,919,300-60,000*full deduction1,859,300446,232.00
(a)1. Interest paid or credited to it shall be exempted in respect of:i) Securities or bonds issued or guaranteed by the Government; orii) Debentures, other than convertible loan stock, approved by the Securities Commission; oriii) Bon Simpanan Malaysia issued by the Central Bank of Malaysia; oriv) Interest derived from Malaysia and paid or credited by any bank licensed under BAFIA 1982. The foreign income received in Malaysia by REIT are exempted under Para 28 of Schedule 6 of ITextragain from the investmentsingle tier dividend(b)(c)(d)made by REIT to the unit holders other than the resident company which are the resident andnon resident company and foreign institutional investor.The net distribution is paid to unit holders and withholding tax shall be paid to the Inland Revenue Bthe distribution of such income.(e)Rate of withholding tax on the distribution made to each category of investors.Unit holdersResidentNon-Resident(i)IndividualWithholding tax will be charged on theWithholding tax will be chargedresident invidual at 10%.non-resident individual at 10%.(ii)CompanyNo withholding tax will be charged, but theWithholding tax will be chargedresident company will be taxed at prevailingnon-resident company at 24%.

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Term
Fall
Professor
NoProfessor
Tags
withholding tax

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