Professional Documents
Culture Documents
Ss Jan2023
Ss Jan2023
Ss Jan2023
1
CONFIDENTIAL AC/JAN 2023/TAX267/TEST
QUESTION 1
YA Period of stay No. of days Status/ Reason
Section
2017 1/12/2017 – 31/12/2017 31 NR√
2
CONFIDENTIAL AC/JAN 2023/TAX267/TEST
QUESTION 2
A.
Factory building
Expenditure RM
Land Nil√
Legal fee – land Nil√
Legal fee – construction of factory 13,000√
Stamp duty – land Nil√
Demolishing an old factory Nil√
Architect’s fee 22,000√
Approval of plan – local authority 5,000√
Construction cost 340,000√
Total cost 380,000
10% rule
Since non-IB (11%) is more than 10%√ of total area, the qualifying portion (factory) which
qualifies for IBA is 380,000 x 89% = 338,200√.
YA RM
2020 QBE 338,200
-) IA – 10√ (33,820)
-) AA – 3%√ (10,146)
RE 294,234
2021 -) AA – 3% (10,146)√
RE 284,088
2022 -) AA – 3% (10,146)
RE 273,942
BMW X1
3
CONFIDENTIAL AC/JAN 2023/TAX267/TEST
YA QE
RM RM
2020 Deposit 80,000√
Instalment (2,500 x 1) √ 2,500
QE (restricted to) 50,000√ 50,000
-) IA – 20%√ (10,000)
-) AA – 20%√ (10,000)
RE 30,000
Instalment (2,500 x 12 = 30,000)
restricted to Nil√
30,000
2021 -) AA (20% x 50,000) (10,000)√
RE 20,000
2022 Instalment (2,500 x 12 = 30,000)
restricted to Nil√
20,000
-) AA (20% x 50,000) (10,000)√
RE 10,000
YA RM
2021 QPE 36,000√
-) IA – 20%√ (7,200)
-) IA – 14%√ (5.040)
RE 23,760
2022 Disposal value 22,000√
Balancing allowance√ 1,760
Since asset was disposed within 2 years from acquisition date√, all capital allowance will be
withdrawn by way of balancing charge√ amounted to 12,240.
YA RM
2022 QPE (Para 2A,MV) 3,550√
-) IA – 20% Nil√
-) IA – 10%√ (355)
RE 3,195
4
CONFIDENTIAL AC/JAN 2023/TAX267/TEST
B.
QUESTION 3
RM RM
Provisional adjusted income/(loss) 190,553√
5
CONFIDENTIAL AC/JAN 2023/TAX267/TEST
b. Computation of total income for Adam, Maxim, Lea and Kalsom for the YA 2022
END OF SOLUTION