Question
Andrew Gomez earns a gross monthly salary of RM18,500 from his employment as a General Manager of a retail and manufacturing company that deals in
Andrew Gomez earns a gross monthly salary of RM18,500 from his employment as a General Manager of a retail and manufacturing company that deals in oil palm based consumer products. When his father died, he inherited a house worth RM550,000 at Setia Alam, Selangor. He rented out the property and he earns a monthly rental of RM 1,200 per month. He also earned interest and dividends on his bank savings and investments in Malaysian shares amounting to RM2,500 per annum. Besides this, Andrew Gomez has no other income for the year of assessment 2021. Andrew contributes 11% to the Employee Provident Fund (EPF) and RM19.75 to PERKESO per month. Besides this Andrew is entitled to the personal relief.
Which of the following statement(s) is/are true regarding Andrew's Malaysian tax situation for the year of assessment 2021?
I. The tax relief that Andrew can claim for PERKESO is RM237.
II. The rental income would not be subject to tax has the house was inherited.
III. The aggregate income that would be assessable would be RM222,000IV. The amount of tax relief for EPF that applies for Andrew is RM6,000
V. The chargeable income would be RM223,163
Choose the statements.
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