Identify and explain any FOUR (4) expenses which are disallowable Section 39 of the Income Tax...
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Identify and explain any FOUR (4) expenses which are disallowable Section 39 of the Income Tax Act 1967. [10 marks] 2. Explain under the Income Tax Act 1967 instances whereby interest income is deemed to be derived from a Malaysian source. [10 marks] 3. Distinguish between "the enduring benefit asset test" and the "fixed and circulating capital test" when testing for items which are "capital in nature". [10 marks] 4. Explain "royalty" under the Income Tax Act 1967. [10 marks] 5. Provide instances whereby a taxpayer can claim child relief according to Section 48(1) of the Income Tax Act 1965. [10 marks] 6. (a) Provide the costs incurred on the plant or machinery used for the purpose of the business which is entitled to be included as "qualifying expenditure" in tax law. [15 marks] Identify and explain any FOUR (4) expenses which are disallowable Section 39 of the Income Tax Act 1967. [10 marks] 2. Explain under the Income Tax Act 1967 instances whereby interest income is deemed to be derived from a Malaysian source. [10 marks] 3. Distinguish between "the enduring benefit asset test" and the "fixed and circulating capital test" when testing for items which are "capital in nature". [10 marks] 4. Explain "royalty" under the Income Tax Act 1967. [10 marks] 5. Provide instances whereby a taxpayer can claim child relief according to Section 48(1) of the Income Tax Act 1965. [10 marks] 6. (a) Provide the costs incurred on the plant or machinery used for the purpose of the business which is entitled to be included as "qualifying expenditure" in tax law. [15 marks]
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1Disallowable expenses under Section 39 of the Income Tax Act 1967 Private expenses ie expenses not incurred for the purpose of producing income or bu... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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