CHAPTER 4

BUSINESS BASIS PERIOD

Zaimah ZA BKAT 3023 A231 1

 BASIS PERIOD (BP)
■ BP is the time frame for income from each source to be taxed during a year of assessment (YA).
■ Governed under S 20, 21 and 21A of the Income Tax Act (ITA) 1967.
■ Public ruling to determine BP:
– PR 8/2019: Notification of Change of Accounting Period by a Company / Limited Liability
Partnership / Trust Body / Co-operative Society *
– PR 4/2017: Basis Period For A Business Source For Persons Other Than A Company, Limited
Liability Partnership, Trust Body And Co-Operative Society
– PR 7/2016: Basis Period For A Companies Under Liquidation
– PR 8/2014: Basis Period For A Company, Limited Liability Partnership, Trust Body and Cooperative
Society
– PR 7/2001: Basis Period For Business & Non-Business Sources (Companies)
– PR 6/2001: Basis Period For A Business Source (Individuals & Persons other than Companies / Co-
Operatives)
– PR 5/2001: Basis Period For A Business Source (Co-Operatives)
– PR 4/2001: Basis Period For A Non-Business Source (Individuals & Persons other than Companies)
– PR 1/2000: Basis Period for a Non-business Source

Zaimah ZA BKAT 3023 A231 2

 BASIS PERIOD
■ S 21, With the implementation of self assessment system (SAS), any person
other than a company, limited liability partnership (LLP), trust body and co-
operative society, the basis period for a YA for each source of income is the
year ended 31 December
– Wef 1.1.2000, Msia moves into current year of assessment (YA 2004 for
individual)
– Example Basis Period for Individual Taxpayer: Ziana commenced
employment on 1.1.2023
– Thus, BP for AnNur in YA 2023 would refer to calendar year 1.1.23 –
31.12.23
■ S 21A(1): In relation to company, LLP, trust body and co-operative society, the
basis year for a YA shall constitute the BP for that YA
– Example: Ali Sdn Bhd closes its account on 31 December each year
– Thus, BP for Ali Sdn Bhd for YA 2023 is 1.1.23 – 31.12.23
Zaimah ZA BKAT 3023 A231 3
 BASIS PERIOD

■ S 21A(2): Where a company, LLP, trust body and co-operative society

has made its accounts for a period of 12 months not ending on 31.12 in
the basis year, that period shall constitute the BP for that YA
– Example: Azmi Sdn Bhd closes its account on 31 July each year
– Thus, BP for Azmi Sdn Bhd for YA 2023 is 1.8.22 – 31.7.23

■ For other taxpayers (individuals, sole proprietor, individual partners in a

partnership, employee, deceased person, club and trade association),
the BP is the calendar year. (wef YA 2004)
– Example: Aiman, a sole proprietor carries on a restaurant business
and closes its account on 31 October annually.
– BP for Aiman for YA 2023 is the calendar year, a period from 1 January
2023 to 31 December 2023.
Zaimah ZA BKAT 3023 A231 4
 BASIS PERIOD (BP)

■ Determination of BP for:
1. Company, LLP, Trust Body and Cooperative
Society
2. Companies under Liquidation
3. Certain Situation

Zaimah ZA BKAT 3023 A231 5

 1. DETERMINATION OF BP FOR COMPANY, LLP, TRUST
BODY AND COOPERATIVE SOCIETY
■ Every company, LLP, trust body and cooperatives society might
have different financial accounting period.
■ For tax purposes, the determination of basis period for a
particular year of assessment of these bodies depending on the
following circumstances:
i. Commencement of business;
ii. Changing the accounting date of its existing business;
iii. Company with existing operations commencing new business;
and
iv. Company joining a partnership

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 i. COMMENCEMENT OF BUSINESS
■ Section 21A(4): Three possible situations for a company
commences its business:
a. Accounts prepared for less than 12 months ending on a
day in the same year
b. Accounts prepared for any period of months ending on
a day immediately following basis year (second basis
year)
c. Accounts prepared for a period more than 12 months
ending on a third year of assessment

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 i. COMMENCEMENT OF BUSINESS
a. Accounts prepared for less than 12 months
ending on a day in the same year
■ That period is regarded as BP for the first year of assessment
■ Example: Ateen Bhd commences its business on 1 February 2022 and closes its first
account on 30 September 2022 (8 months) and continues to close on 30 September
for subsequent years. What are the basis periods for Ateen Bhd for year assessment
of 2022 and 2023?
■ Based on new provision of S 21A(4)(a), BP for Ateen Bhd:

Year of Assessment Period Basis Period

YA 2022 8 months 01/02/2022 – 30/09/2022

YA 2023 12 months 01/10/2022 – 30/09/2023

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 i. COMMENCEMENT OF BUSINESS
b. Accounts prepared for any period of months ending on a day immediately
following basis year (second basis year)
■ There is no BP for the first year of assessment
■ Example: Ateen Bhd commences its business on 1 Jun 2021 and closes its first
account on 30 April 2022 (11 months) and continues to close on 30 April for
subsequent years. What are the basis periods for Ateen Bhd for year assessment of
2022 and 2023?
■ Based on new provision of S 21A(4)(a), BP for Ateen Bhd: (no BP for YA 2021)

Year of Assessment Period Basis Period

YA 2022 11 months 01/06/2021 – 30/04/2022

YA 2023 12 months 01/05/2022 – 30/04/2023

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 i. COMMENCEMENT OF BUSINESS
c. Accounts prepared for a period more than 12 months ending on a third
year of assessment
■ There is no BP for the first and second year of assessments.
■ Example: Akim Bhd commences its business on 1 Oct 2020 and closes its first account on
31 March 2022 (18 months) and continues to close on 31 March for subsequent years.
What are the basis periods for Akim Bhd?
■ Based on new provision of S 21A(4)(a), BP for Akim Bhd: (no BP for YA 2020 and 2021)

Year of Assessment Period Basis Period

YA 2020 No BP
YA 2021 No BP

YA 2022 18 months 01/10/2020 – 31/03/2022

YA 2023 12 months 01/04/2022 – 31/03/2023

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 ii. CHANGE THE ACCOUNTING DATE
■ Companies might change their normal accounting date to a different
date due to several reasons.
■ If companies failed to prepare accounts on their normal accounting
date, the DG may direct the BP for the YA.
■ New provision in S 21A(3): the direction on BP applicable to all 12
months account which fails to close account at normal date.
a. New accounts are prepared for a period of less than 12 months and
ending in the same year
b. New accounts are prepared for a period of less than 12 months and
ending in the following year
c. New accounts are prepared for a period of more than 12 months and
ending in the following year
d. New accounts are prepared for a period of more than 12 months and
the ending in the third year

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 ii. CHANGE THE ACCOUNTING DATE
a. New accounts are prepared for a period of less than 12 months
and ending in the same year
■ The BP for the failure year will cover the entire period from the
accounting period in the failure year and next accounting
period.
■ Example: Anas Bhd normally prepared its account ending on 31
March every year. In 2021, the date has been changed to 31
December. The account were prepared as follows:
01.04.2020 – 31.03.2021
01.04.2021 – 31.12.2021 9 months – failure year
01.01.2022 – 31.12.2022
■ Determine the BP for Anas Bhd for YA 2021 - 2023

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 ii. CHANGE THE ACCOUNTING DATE
a. New accounts are prepared for a period of less than 12 months
and ending in the same year

■ The BP for Anas Bhd:

YA BP Period
2021 01.04.2020 – 31.03.2021 12 months
2022 01.04.2021 – 31.12.2022 21 months
2023 01.01.2023 – 31.12.2023 12 months

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 ii. CHANGE THE ACCOUNTING DATE
b. New accounts are prepared for a period of less than 12 months
and ending in the following year

■ The period would be accepted for the BP for YA

■ Example: Anis Bhd normally prepared its account ending on 30
September every year. In 2022, the date has been changed to 31
March as follows:
BP Period
01.10.2020 – 30.09.2021 12 months (normal accounting date)
01.10.2021 – 31.03.2022 6 months (failure year)
01.04.2022 – 31.03.2023 12 months

■ Determine the BP for Anis Bhd for YA 2021 – 2023.

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 ii. CHANGE THE ACCOUNTING DATE
b. New accounts are prepared for a period of less than 12 months
and ending in the following year

■ BP for Anis Bhd:

YA BP Period
2021 01.10.2020 – 30.09.2021 12 months
2022 01.10.2021 – 31.03.2022 6 months
2023 01.04.2022 – 31.03.2023 12 months

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 ii. CHANGE THE ACCOUNTING DATE
c. New accounts are prepared for a period of more than 12 months
and ending in the following year

■ The new accounting period would be accepted for the BP for YA

■ Aiman Bhd changed its financial year end from 30 June to 30
September in the following year. The account were prepared as
follows:

01.07.2020 – 30.06.2021 12 months

01.07.2021 – 30.09.2022 15 months – failure year

01.10.2022 – 30.09.2023 12 months

■ Determine the BP for Aiman Bhd for YA 2021 - 2023

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 ii. CHANGE THE ACCOUNTING DATE
c. New accounts are prepared for a period of more than 12 months
and ending in the following year

■ BP for Aiman Bhd:

YA BP Period
2021 01.07.2020 – 30.06.2021 12 months
2022 01.07.2021 – 30.09.2022 15 months
2023 01.10.2022 – 30.09.2023 12 months

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 ii. CHANGE THE ACCOUNTING DATE
d. New accounts are prepared for a period of more than 12 months
and the ending in the third year
■ The new accounting period will be apportioned equally.
■ There will be 2 failure years. For odd numbers, the 0.5 will be
added to the first failure year.
■ Example: In 2020, Danial Bhd change its financial year end
from 30 November to 28 February as follows:

01.12.2019 – 30.11.2020 12 months

01.12.2020 – 28.02.2022 15 months*
01.03.2022 – 28.02.2023 12 months

■ * 2 failure years 2021 and 2022

■ Determine BP for Danial Bhd

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 ii. CHANGE THE ACCOUNTING DATE
d. New accounts are prepared for a period of more than 12 months
and the ending in the third year

■ The new accounting period will be apportioned equally.

■ There will be 2 failure years. For odd numbers, the 0.5 will be added
to the first failure year.
■ BP for Danial Bhd as follows:

YA BP Period
2020 01.12.2019 – 30.11.2020 12 months
2021 01.12.2020 – 31.07.2021 8 months
2022 01.08.2021 – 28.02.2022 7 months
2023 01.03.2022 – 28.02.2023 12 months

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 iii. EXISTING OPERATIONS COMMENCING NEW BUSINESS

■ When a company already carrying on one or more businesses, commences a

new business, then the new business will be treated as having the same
basis period as the old business/es.
■ Example 7: High Tech Sdn Bhd has been in operation for the past five (5)
years and closes its accounts on 30 June annually. On 1 March 2023, the
management of the company decided to venture a new business. Determine
the basis period of the old and new business for year assessment of 2023.
■ Answer: For YA 2021, the old and new business will close their accounts
on 30 June 2021.

YA Basis Period
Old Business New Business
YA 2023 01/07/2022 - 30/06/2023 01/03/2023- 30/06/2023

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 iv. COMPANY JOINING A PARTNERSHIP

■ A company may join a partnership to venture into new

business.
■ If a company joins a partnership, the partnership will be
regarded as a new business of the company.
■ The basis period of the existing business is also the basis
period for partnership source.

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 iv. COMPANY JOINING A PARTNERSHIP

■ Example: Restu Sdn Bhd closes its account on 30 April every year. In 2022,
the company joined a partnership which commences business on 18 April
2022. The first account of the partnership has been prepared for a period
to 30 June 2022. Determine the BP of the partnership for the year of
assessment 2022 and 2023.
■ Answer: The BP of the partnership must follow the accounting period of
Restu Sdn Bhd. Therefore, the BP for partnership source for the year of
assessment 2022 and 2023 would be as follows:
Year of Assessment Basis Period
YA 2022 18/04/2022 – 30/04/2022

YA 2023 01/05/2022 – 30/04/2023

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 2. COMPANIES UNDER LIQUIDATION
■ Companies under liquidation (or winding up) refer to a company
under a proses of realization whereby all the company’s assets will
be seized and realized and the proceed therefrom will be used to pay
all outstanding debts and liabilities of the company.
■ The surplus, if any will be distributed among the shareholders or
contributors of the company according to their entitlement.
■ At the end of the process, the company goes into dissolution and it
ceased to exist.
■ The liquidation of the company might be due to voluntarily or under
the court order.

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 2. COMPANIES UNDER LIQUIDATION

■ A company placed under liquidation needs to prepare accounts for

a period of 6 months from the date of appointment of the
liquidator and thence for every subsequent period of 6 months.

■ Liquidator’s accounts : Liquidator’s Account of Receipts &

Payments & a Statement of the Position in the Winding-up

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 2. COMPANIES UNDER LIQUIDATION
■ In determining the basis period for the failure year and subsequent
years for a company under liquidation, the accounting period
prepared by the company in the failure year would be accepted by
the DGIR provided that:
– There is no missing year of assessment
– There shall not be two or more accounts closed in the same year of
assessment which will be taken as the basis period for the failure
year or the year of assessment following the failure year
– The first set of accounts of the failure year will be used as a basis
period for the failure year or that accounts will be combined with
the next accounts and taken as the basis period for the year of
assessment in the failure year.

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 2. COMPANIES UNDER LIQUIDATION
■ Change of Accounting Period Following the Liquidation:
i. New accounts are prepared for less than 12 months and
ending in the same year before liquidation
ii. New accounts are prepared for less than 12 months and
ending in the following year
iii. New accounts are prepared for more than 12 months and
ending in the following year
iv. New accounts are prepared for more than 12 months and
ending in third year

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 2. Change of Accounting Period-Liquidation
i. New accounts are prepared for less than 12 months and ending in the
same year before liquidation

■ A company under liquidation may change its accounting

period.
■ The first set of accounts in the failure year will be taken as
the basis period for the failure year, or the accounts will be
combined with the next set of accounts and taken as basis
period for a year of assessment.

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 2. Change of Accounting Period-Liquidation
i. New accounts are prepared for less than 12 months and ending in the
same year before liquidation
■ Example: Sala Sdn Bhd prepares its accounts on 31 March each year.
In 2020, the company is in the process of voluntary liquidation and
the liquidator was appointed on 21.7. 2020 to take over the company
affair during the liquidation process. The accounting period for the
company are as follows:

Year of Assessment Accounting Period Period

2020 (before liquidation)
Failure year
01/04/2019 – 31/03/2020 12 months
01/04/2020 – 20/07/2020 3 months 20 days
21/07/2020 – 20/01/2021 6 months
21/01/2021 – 20/07/2021 6 months
21/07/2021 – 20/01/2022 6 months

Zaimah ZA BKAT 3023 A231 28

 2. Change of Accounting Period-Liquidation
i. New accounts are prepared for less than 12 months and ending in the same year
before liquidation
■ The basis period of Sala Sdn Bhd are determine as follows:

YA Accounting Period Period

2020 01/04/2019 – 31/03/2020 12 months

2021 01/04/2020 – 20/01/2021 9 months 20 days
21/01/2021 – 20/07/2021 6 months
2022
21/07/2021 – 20/01/2022 6 months
21/01/2022 – 20/07/2022 6 months
2023
21/07/2022 – 20/01/2023 6 months
■ The failure year occurs in 2021. The DGIR will determine the basis periods for year
assessment 2021 onwards.
■ The new accounting period (01/04/2020 – 20/07/2020) and the following
accounting period (21/07/2020 – 20/01/2021) are combined and taken as the
basis period for the year of assessment in the failure year. The next two 6-month
accounting period from the basis period for the subsequent years of assessment.
Zaimah ZA BKAT 3023 A231 29
 2. Change of Accounting Period-Liquidation
ii. New accounts are prepared for less than 12 months and ending in the
following year
■ The first set of accounts is closed in the failure year is taken as the BP for the
year of assessment in the failure year.
■ Example: Tunas Holding Berhad is in the process of liquidation. The company was
put under liquidation on 1.4.2022 and a liquidator was appointed on the same date.
The company closes its account on 30 June each year prior to the liquidation. The
accounts are prepared as follows:

Year of Assessment Accounting Period Period

2021 (before liquidation) 01/07/2020 – 30/06/2021 12 months
Failure year 01/07/2021 – 31/03/2022 9 months
01/04/2022 – 30/09/2022 6 months
01/10/2022 – 31/03/2023 6 months

Zaimah ZA BKAT 3023 A231 30

 2. Change of Accounting Period-Liquidation
ii. New accounts are prepared for less than 12 months and ending in the
following year

■ The basis period of Tunas Holding Bhd are:

YA Accounting Period Period

2021 01/07/2020 – 30/06/2021 12 months
2022 01/07/2021 – 31/03/2022 9 months
01/04/2022 – 30/09/2022 6 months
2023 01/10/2022 – 31/03/2023 6 months

Zaimah ZA BKAT 3023 A231 31

 2. Change of Accounting Period-Liquidation
iii. New accounts are prepared for more than 12 months and ending in
the following year

■ The first set of accounts in the failure year will be taken as the basis
period for the failure year although the period is more than 12
months. The next two-6 months accounting period form the basis
period for the following year of assessment.
■ Example: Undan Sdn Bhd is in the process of liquidation due to
petition initiated by the shareholders. The liquidation process began
on 01.11.2021 and a liquidator was appointed on the same date. The
normal accounting date for the company is 30 June each year. After
the liquidation process took place, the accounts are prepared as
follows:

Zaimah ZA BKAT 3023 A231 32

 2. Change of Accounting Period-Liquidation
iii. New accounts are prepared for more than 12 months and ending in the following year
Year of Assessment Accounting Period Period
2020 (before liquidation) 01/07/2019 – 30/06/2020 12 months
Failure year 01/07/2020 – 31/10/2021 16 months
01/11/2021 – 30/04/2022 6 months
01/05/2022 – 31/10/2022 6 months
01/11/2022 – 30/04/2023 6 months

The company’s basis periods are determined as shown below:

Year of Assessment Accounting Period Period
2020 01/07/2019 – 30/06/2020 12 months
2021 01/07/2020 – 31/10/2021 16 months
2022 01/11/2021 – 30/04/2022 6 months
01/05/2022 – 31/10/2022 6 months
2023 01/11/2022 – 30/04/2023 6 months

Zaimah ZA BKAT 3023 A231 33

 2. Change of Accounting Period-Liquidation
iv. New accounts are prepared for more than 12 months and ending in the third year

■ The new accounting period will be apportioned into two equals periods
■ Example: Khuatir Berhad is in the process of liquidation. The company
was put under liquidation on 1.2.2022 and a liquidator was appointed on
the same date. The company closes its account on 30 September each year
prior to the liquidation. The accounts are prepared as follows:

Year of Assessment Accounting Period Period

2020 (before liquidation) 01/10/2019 – 30/09/2020 12 months
Failure year 01/10/2020 – 31/01/2022 16 months
01/02/2022 – 31/07/2022 6 months
01/08/2022 – 31/01/2023 6 months

Zaimah ZA BKAT 3023 A231 34

 2. Change of Accounting Period-Liquidation
iv. New accounts are prepared for more than 12 months and ending in the third year

■ The new accounting period will be apportioned into two equals periods
■ BP for Khuatir Berhad:

Year of Assessment Accounting Period Period

2020 01/10/2019 – 30/09/2020 12 months
2021 01/10/2020 – 31/05/2021 8 months
2022 01/06/2021 – 31/01/2022 8 months
01/02/2022 – 31/07/2022 6 months
2023
01/08/2022 – 31/01/2023 6 months

Zaimah ZA BKAT 3023 A231 35

 3. Certain Situation
i. Change of accounting period prior to year assessment 2014
If the failure year falls in the year prior to the year 2014, the determination of the basis
period should be based on provision of Section 21A(3) (before amendment) by applying
the principles set out in the PR 7/2001 before being replaced by the PR 8/2014.
ii. The accounting period for failure year is too short
■ If the basis period for failure year is too short, the period may be accepted as the basis
period. The DGIR will accept an accounting period of at least three months as the basis
period. Thus, the period will be combined with the next period and taken as basis
period for the year of assessment. The next two 6-months periods form the basis
period for the subsequent year of assessment.
■ Example: YZ Properties closes its account on 31 December each year. The company
commenced its liquidation process on 10 January 2022 and the liquidator was
appointed on the same date. The company’s account therefore, was prepared until 9
January 2022. After that the liquidator’s account were prepared every 6 months.

Zaimah ZA BKAT 3023 A231 36

 3. CERTAIN SITUATION
ii. The accounting period for failure year is too short
■ The company accounting period before and after liquidation is as follows:

Year of Assessment Accounting Period Period

2021 (before liquidation) 01/01/2021 – 31/12/2021 12 months
Failure year 01/01/2022 – 09/01/2022 9 days
10/01/2022 – 09/07/2022 6 months
10/07/2022 – 10/01/2023 6 months
11/01/2023 – 09/07/2023 6 months

■ The basis period for YZ Properties are determine as follows:

YA Accounting Period Period
2021 01/01/2021 – 31/12/2021 12 months
2022 01/01/2022 – 09/07/2022 6 months 9 days
2023 10/07/2022 – 10/01/2023 6 months
11/01/2023 – 09/07/2023 6 months

Zaimah ZA BKAT 3023 A231 37

 3. CERTAIN SITUATION
iii. Company under liquidation with few liquidators being appointed

■ In certain cases, during the liquidation process the appointed liquidators might
resigned and replaced with another liquidator. The DGIR shall direct the basis
period for the failure year and the following years by applying the principles set
out in the Public Ruling applicable during the time.
■ Example: Zam Capital (accounting year end 31 December each year) was under
voluntary liquidation on 20 November 2021 and the liquidators was appointed
on the same date. Due to some reasons, the liquidator was resigned and a second
liquidator was appointed on 10 April 2022. The company accounts were
prepared as follows:
Year of Assessment Accounting Period Period
2020 (before liquidation) 01/01/2020 – 31/12/2020 12 months
Failure year 01/01/2021 – 19/11/2021 10 months 19 days
Failure year 20/11/2021 – 09/04/2022 3 months 9 days
10/04/2022 – 09/10/2022 6 months
10/10/2022 – 09/04/2023 6 months
10/04/2023 – 09/10/2023 6 months

Zaimah ZA BKAT 3023 A231 38

 3. CERTAIN SITUATION
iii. Company under liquidation with few liquidators being appointed

■ The basis period for Zam Capital are determined as follows:

YA Accounting Period Period

2020 01/01/2020 – 31/12/2020 12 months
2021 01/01/2021 – 19/11/2021 10 months 19 days
2022 20/11/2021 – 09/10/2022 9 months 9 days
2023 10/10/2022 – 09/04/2023 6 months
10/04/2023 – 09/10/2023 6 months

Zaimah ZA BKAT 3023 A231 39

 3. CERTAIN SITUATION
iv. Company under liquidation by court order

■ Redah Capital prepares its accounts on 31 December each year. The

liquidation order was issued by the court took effect from 26 October
2021. On 8 August 2022 a joint liquidator was appointed and the account
was prepares from that date to 7 February 2023. Accounting period before
and after liquidation as follows:

YA Accounting Period Period

2020 01/01/2020 – 31/12/2020 12 months
Failure year 01/01/2021 – 25/10/2021 9 months 25 days
Failure year 26/10/2021 – 07/08/2022 9 months 13 days
08/08/2022 – 07/02/2023 6 months
08/02/2023 – 07/08/2023 6 months

Zaimah ZA BKAT 3023 A231 40

 3. CERTAIN SITUATION
iv. Company under liquidation by court order

■ The BP are determined as follows:

YA Accounting Period Period

2020 01/01/2020 – 31/12/2020 12 months
2021 01/01/2021 – 25/10/2021 9 months 25 days
2022 26/10/2021 – 07/08/2022 9 months 13 days
08/08/2022 – 07/02/2023 6 months
2023
08/02/2023 – 07/08/2023 6 months

▪ The failure years are the years 2021 and 2022. Although the accounting
periods for both failure years are less than 12 months, these periods are
accepted as the basis periods for the years of assessment 2021 and 2022
because both accounts are closed in the respective failure years.
• The next two 6-month periods form the basis period for the following YA.

Zaimah ZA BKAT 3023 A231 41

 COMPUTATION OF ADJUSTED INCOME
■ Adjusted income for each year of assessment is assumed to be accrued evenly. It
was computed based on the period which the income is derived.
■ Mama Delicious Sdn Bhd has been in catering business since 2018. Annual
accounts were prepared on 31 October every year. However, in 2022 the company
failed to close its accounts on the normal date (31 October). Instead, the new
accounting date was changed to 31 January 2023. The adjusted income (loss) for
the relevant accounting period was as follows:
Accounting Period Adjusted Income
1 November 2019 – 31 October 2020 25,000
1 November 2020 – 31 October 2021 45,000
1 November 2021 – 31 January 2023 120,000

■ Determine the basis period and adjusted income (loss) for the year assessment of
2022 to 2023.
Zaimah ZA BKAT 3023 A231 42
 COMPUTATION OF ADJUSTED INCOME

YA BP Adjusted Income
2022 1 November 2021 – 30 June 2022 8/15 x 120,000 = 64,000

2023 1 July 2022 – 31 January 2023 7/15 x 120,000 = 56,000

End of Chapter 4

Zaimah ZA BKAT 3023 A231 43