3. Mr Harama retired from TT System Sdn Bhd on 31 July 2018 at the age of St, in line with his contract of employment, having worked with the company for 14 years. He received a gratulty of RM79.000 which he used to start a book shop businesses e 1 September 2016. He had an operation prior to his retirement The surgical and medical expenses incurred amounted to RM30,000 of which RM25.000 was paid by TT System Sdn Bhd His wife teaches at kindergarten and during her spare time, she does translation of literary work for the Minhtry of Education. They have two children. Hisan who is stellying countancy at the Multimedia University on a scholarship which pays for his fees an living expenses, and Hasan who is studying at scendary school in Singapore Mir Harama has provided the following additional information in respect of the year ended 31 December 2018 Salary EPF - employer's portion Employee's portion Mr Haram 41.000 9,640 4,620 Mr Harama 40.000 4 snp 4,400 Capital som assured - Premium palid Deferred annuity 50,000 1,200 20.000 2000 600 Children's maintenance express Han Hinan 15.000 1.100 Page 10 of 12 BDCM TAXATION 15EM. SEPT 2019 20.000 Gross dividend income Malaysia Pioneer Fremdhed Translation fees received from Ministry of Education Interest from Maybank bank Denatus apprended -Cash Television set 30.000 10.000 4,750 2,375 00 200 1.000 1.250 Medical expens incurred Mr Harama and his family Mr Harama para Mir Harama parato Heasing an interest Purchase of bookmagazines for children 2,000 2.400 600 900 The profit and loss cast of Mr Harama's book shop business for the period from 1 September 2018 to 31 December 2018 is as follows: Sales books and stationary RM RM Cash term 15.000 Credit term 5.000 20.000 Les expenses Cost of sales 13,000 Salary 1,200 Depreciation 750 Retal of shop 4.000 Fine for late registration of business 100 Entertainment of book distributors 50 Other general expenses (all allowable) 700 (24.800) Loss for the period 14.500) Capital allowance 1.200 Required: Compute the tax liabilities, if any, of Mr and Ms Harams for the YA 2018. (28) (Total: 20) 3. Mr Hazama retired from TT System Sdn Bhd on 31 July 2018 at the age of 50, in line with his contract of employment, having worked with the company for 14 years. He received a gratuity of RM77,000 which he used to start a book shop businesses on 1 September 2018. He had an operation prior to his retirement The surgical and medical expenses incurred amounted to RM30,000 of which RM25,000 was paid by TT System Sdn Bhd. His wife teaches at a kindergarten and during her spare time, she does translation of literary work for the Ministry of Education. They have two children, Hisan who is studying accountancy at the Multimedia University on a scholarship which pays for his fees an living expenses, and Hazan who is studying at a secondary school in Singapore. Mr Hazama has provided the following additional information in respect of the year ended 31 December 2018. Salary EPF - employer's portion Employee's portion Mr Hazama 42,000 5,040 4,620 Mrs Hazama 40,000 4,800 4,400 50,000 1,200 20,000 2,000 600 Insurance Capital sum assured Premium paid Deferred annuity Children's maintenance expenses Hazan Hisan 15,000 1,600 Page 10 of 12 20,000 Gross dividend income Malaysia Pioneer Exempt dividend Translation fees received from Ministry of Education Interest from Maybank bank Donations approved Cash Television set 30,000 10,000 4,750 2,375 600 200 1,000 1,250 800 Medical expenses incurred: Mr Hazama and his family Mr Hazama parents Mrs Hazama parents Housing loan interest Purchase of books/magazines for children 2,000 2,400 600 900 The profit and loss account of Mr Hazama's book shop business for the period from 1 September 2018 to 31 December 2018 is as follows: RM RM 15,000 5,000 20,000 Sales books and stationary Cash term Credit term Less: expenses Cost of sales Salary Depreciation Rental of shop Fine for late registration of business Entertainment of book distributors Other general expenses (all allowable) Loss for the period Capital allowance 18,000 1,200 750 4,000 100 50 700 (24,800) (4.800) 1,200 Required: Compute the tax liabilities, if any, of Mr and Mrs Hazama for the YA 2018. (20) (Total : 20) 3. Mr Harama retired from TT System Sdn Bhd on 31 July 2018 at the age of St, in line with his contract of employment, having worked with the company for 14 years. He received a gratulty of RM79.000 which he used to start a book shop businesses e 1 September 2016. He had an operation prior to his retirement The surgical and medical expenses incurred amounted to RM30,000 of which RM25.000 was paid by TT System Sdn Bhd His wife teaches at kindergarten and during her spare time, she does translation of literary work for the Minhtry of Education. They have two children. Hisan who is stellying countancy at the Multimedia University on a scholarship which pays for his fees an living expenses, and Hasan who is studying at scendary school in Singapore Mir Harama has provided the following additional information in respect of the year ended 31 December 2018 Salary EPF - employer's portion Employee's portion Mr Haram 41.000 9,640 4,620 Mr Harama 40.000 4 snp 4,400 Capital som assured - Premium palid Deferred annuity 50,000 1,200 20.000 2000 600 Children's maintenance express Han Hinan 15.000 1.100 Page 10 of 12 BDCM TAXATION 15EM. SEPT 2019 20.000 Gross dividend income Malaysia Pioneer Fremdhed Translation fees received from Ministry of Education Interest from Maybank bank Denatus apprended -Cash Television set 30.000 10.000 4,750 2,375 00 200 1.000 1.250 Medical expens incurred Mr Harama and his family Mr Harama para Mir Harama parato Heasing an interest Purchase of bookmagazines for children 2,000 2.400 600 900 The profit and loss cast of Mr Harama's book shop business for the period from 1 September 2018 to 31 December 2018 is as follows: Sales books and stationary RM RM Cash term 15.000 Credit term 5.000 20.000 Les expenses Cost of sales 13,000 Salary 1,200 Depreciation 750 Retal of shop 4.000 Fine for late registration of business 100 Entertainment of book distributors 50 Other general expenses (all allowable) 700 (24.800) Loss for the period 14.500) Capital allowance 1.200 Required: Compute the tax liabilities, if any, of Mr and Ms Harams for the YA 2018. (28) (Total: 20) 3. Mr Hazama retired from TT System Sdn Bhd on 31 July 2018 at the age of 50, in line with his contract of employment, having worked with the company for 14 years. He received a gratuity of RM77,000 which he used to start a book shop businesses on 1 September 2018. He had an operation prior to his retirement The surgical and medical expenses incurred amounted to RM30,000 of which RM25,000 was paid by TT System Sdn Bhd. His wife teaches at a kindergarten and during her spare time, she does translation of literary work for the Ministry of Education. They have two children, Hisan who is studying accountancy at the Multimedia University on a scholarship which pays for his fees an living expenses, and Hazan who is studying at a secondary school in Singapore. Mr Hazama has provided the following additional information in respect of the year ended 31 December 2018. Salary EPF - employer's portion Employee's portion Mr Hazama 42,000 5,040 4,620 Mrs Hazama 40,000 4,800 4,400 50,000 1,200 20,000 2,000 600 Insurance Capital sum assured Premium paid Deferred annuity Children's maintenance expenses Hazan Hisan 15,000 1,600 Page 10 of 12 20,000 Gross dividend income Malaysia Pioneer Exempt dividend Translation fees received from Ministry of Education Interest from Maybank bank Donations approved Cash Television set 30,000 10,000 4,750 2,375 600 200 1,000 1,250 800 Medical expenses incurred: Mr Hazama and his family Mr Hazama parents Mrs Hazama parents Housing loan interest Purchase of books/magazines for children 2,000 2,400 600 900 The profit and loss account of Mr Hazama's book shop business for the period from 1 September 2018 to 31 December 2018 is as follows: RM RM 15,000 5,000 20,000 Sales books and stationary Cash term Credit term Less: expenses Cost of sales Salary Depreciation Rental of shop Fine for late registration of business Entertainment of book distributors Other general expenses (all allowable) Loss for the period Capital allowance 18,000 1,200 750 4,000 100 50 700 (24,800) (4.800) 1,200 Required: Compute the tax liabilities, if any, of Mr and Mrs Hazama for the YA 2018. (20) (Total : 20)