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A. Merzin Unit Trust (MUT) was established in 2015 and invested its fund in shares and fixed deposits. In January 2020, MUT purchased a building

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A. Merzin Unit Trust (MUT) was established in 2015 and invested its fund in shares and fixed deposits. In January 2020, MUT purchased a building and has installed a generator before the building can be rented out. The cost of the generator installation is amounted to RM800,000 and RM1,000,000 for the cost of preparing and levelling the land. The profit and loss account for MUT for the year ended 31 December 2020 is as follows: RM'000 RM'000 Income: Dividends Gains from realizing of investment Interest Rental 500 700 100 800 2,100 Expenses: Remuneration for trust managers Property management fees Fund management fees Share registration fees Audit and accounting fees Assessment and quit rent Printing, telephone, and stationery expenses Office rental Fire insurance Net profit 25 13 22 13 15 23 17 38 24 190 1,910 REQUIRED: Compute tax payable by Merzin Unit Trust for the year assessment 2020. (10 Marks) A. Merzin Unit Trust (MUT) was established in 2015 and invested its fund in shares and fixed deposits. In January 2020, MUT purchased a building and has installed a generator before the building can be rented out. The cost of the generator installation is amounted to RM800,000 and RM1,000,000 for the cost of preparing and levelling the land. The profit and loss account for MUT for the year ended 31 December 2020 is as follows: RM'000 RM'000 Income: Dividends Gains from realizing of investment Interest Rental 500 700 100 800 2,100 Expenses: Remuneration for trust managers Property management fees Fund management fees Share registration fees Audit and accounting fees Assessment and quit rent Printing, telephone, and stationery expenses Office rental Fire insurance Net profit 25 13 22 13 15 23 17 38 24 190 1,910 REQUIRED: Compute tax payable by Merzin Unit Trust for the year assessment 2020. (10 Marks)

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