Tutorial 11 Question 3

Paramita Sdn. Bhd.

Common Expenses RM
Directors' fees 200,000
Salaries & wages 350,000
Audit fee 30,000 Interest
Secretarial fee (restricted to RM5,000) 5,000 Less: Common expenses
Telephone charges 10,000 Adjusted income
Food & drink (for employees) 46,000 Less: Capital allowance
Postage 4,000 Statutory income
Stationery 5,000 Rent
Donation - Less: Interest on bank loan-W&
Depreciation - Maintenance expenses- W
650,000 Less: Common expenses
Adjusted income
Gross income RM Less: Capital allowance
Dividends (single-tier exempt dividends) 900,000 Statutory income
Dividends (exempt) 150,000 Aggregate income
Interest 210,000
Rent 300,000
1,560,000 Chargable income
Common expenses attributable to RM Tax payable
Dividends (single-tier) 650,000 x 900,000 / 1,560,000 375,000 PL
Dividends (exempt) 650,000 x 150,000 / 1,560,000 62,500 PL
Interest 650,000 x 210,000 / 1,560,000 87,500
Rent 650,000 x 300,000 / 1,560,000 125,000
650,000
Capital allowance of RM78,000 for Plant & Machinery RM
Dividends (single-tier) 78,000 x 900,000 / 1,560,000 45,000 PL
Dividends (exempt) 78,000 x 150,000 / 1,560,000 7,500 PL
Interest 78,000 x 210,000 / 1,560,000 10,500
Rent 78,000 x 300,000 / 1,560,000 15,000
78,000
 RM RM RM

210,000
Common expenses 87,500
122,500
Capital allowance 10,500
112,000
300,000
Interest on bank loan-W&E exp 60,000
Maintenance expenses- W&E exp 90,000
Common expenses 125,000 (276,923)
23,077
ital allowance 15,000
8,077
120,077

Restricted to 10% of RM 118,731 12,007.7

108,069
RM 108,069 x 24% 25,937