Answered step by step
Verified Expert Solution
Question
1 Approved Answer
(CLO2:PLO2:C4) Question 4 (10 Marks) Dr Saiful, a cardio specialist of Kuala Lumpur General Hospital and retired at the age of 65, received the following
(CLO2:PLO2:C4) Question 4 (10 Marks) Dr Saiful, a cardio specialist of Kuala Lumpur General Hospital and retired at the age of 65, received the following incomes in year the 2020: i. Dividends from his investments in unit trust in the following funds (all approved by Security Commission of Malaysia): Hong Leong Dana Makmur amounting to RM28,000 PMB Shariah Growth Fund for RM45,000 BAT Plc from Singapore amounted to $20,000 and remitted to Malaysia in year 2020. He also earned RM10,200 from his shareholding in Mutiara Bhd. ii. Royalty from his books amounting to RM105,000. He incurred the following costs on the book writing: Editing and typing Miscellaneous expense RM 25,200 1,500 A notebook was bought by Dr Saiful and was included in the editing cost for RM5,000. iii. An interest on his fixed deposit amounting to RM18,500 from Maybank Bhd. iv. A monthly pension of RM25,000 from the Government of Malaysia in respect of his former employment Apart from that, he rented out his house at Bukit Bintang, Kuala Lumpur. In the year 2020, the following information is available for his rented property: RM Monthly rental 10,000 Payment quit rent and assessment - repairs on the leaking pipes fire insurance 2,800 2,000 4,000 5 - repainting of the house - replacing the old gate to auto gate 10,500 5,500 In assisting the country to battle the Covid-19, Dr Saiful becomes one of the contract doctor at the covid quarantine center in Klang Valley for the month of October to November 2020. He has been paid RM200 per day for his service. However, he has decided not to continue with his service due to his physical incapability. As a specialist, Dr Saiful is actively involved in many health talks program organized by few non- government agencies. In year 2020, he received a total of RM40,000 from his talks. He also an external moderator in one of the private medical university in Selangor and has being paid an amount of RM2,000 for his services. Required: Compute the amount to be assessed in YA 2020 for each source of income earned by Dr Saiful. (10 Marks) (CLO2:PLO2:05)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started