Question
Alex worked as finance manager of Maple Bhd since 1 March 2015 before he resigned through voluntary separation scheme on 30 November 2021. He was
Alex worked as finance manager of Maple Bhd since 1 March 2015 before he resigned through voluntary separation scheme on 30 November 2021. He was paid with a compensation amounted to RM250,000. Details of Alex's income and benefits for theyear of assessment 2021 are shown below:
- Monthly salary of RM10,000 (gross). He also received RM800 and RM1,000, being monthlyallowance for entertainment and travelling respectively. He claimed 60% of the entertainment allowancewas for entertaining clients and spent RM5,000to travel for official duties.
2. Medical benefitsfor his family amounting to RM4,000 per year.
3. A fully- furnished five-room house has been provided to by the company. The monthly rental paid was RM3,000 inclusive furniture value of RM500. During his occupation, one room was not used and was reserved for the company's clients when necessary. He paid a monthly nominalrent of RM300 to the company duringhis stay. Alex left the house on 30 November 2021. The utility bills of the house under company's name and paid by the company amounted to RM3,100.
4. A company car, bought in year 2018 with a cost of RM80,000 was provided to Alex until30 November 2021.
5. Reimbursement of RM800 per month for a domestic helper that Alex hired for his family.
6.Alex and his family were provided with the holiday trips to Taiwanand Sabah costingRM12,000 and RM4,000respectively. The air fare costs were 60% for Taiwan'strip while the remaining for hotel bills and meals.
7. Alex was given credit card facilities, of which the amount paid by the company was RM6,000and RM2,100 for the official and private expensesrespectively.
8. Withdrawal of RM80,000 from an unapproved fund whereby 70% of the fund was contributed by the company and 30% was his contribution.
Required:
Compute the statutory incomefrom employment of Alex for the year of assessment 2021.
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