Question
Assume that Jeffrey has no other income and is unmarried, compute his chargeable income for YA2021 Net income Less: Partners' salaries: Partners' interest: Jackson Jeffrey
Assume that Jeffrey has no other income and is unmarried, compute his chargeable income for YA2021
Net income Less: Partners' salaries: Partners' interest: Jackson Jeffrey Jackson Jeffrey Partners' life insurance premiums: Jackson Jeffrey Notes: 1. Capital allowances on partnership assets is RM48,000 2. The profit-sharing arrangements during the year were as follows: Jackson 75% 50% RM'000 RM'000 100 120 8 20 4 A 326 (256) 70 Jeffrey 1 January 2021 - 30 September 2021 25% 1 October 2021-31 December 2021 50% 3. Jeffrey paid a premium for a deferred annuity insurance contracted in 2015. The amount of premium paid for 2021 amounted to RM2,600.
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To compute Jeffreys chargeable income for YA2021 we need to consider his net income and make adjustm...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
