FEBRUARY 2022 1. Wan has served as a business consultant for Nestle Berhad for the past 3 years. On 30.9 .2021 , he was informed by the employer that he was to be terminated with immediate effect because the company had decided to reduce its operating costs. He received the following with regards to the termination: 1 month's salary of RM8,000 for being released from the company's work contract. - Gratuity of RM10,000 for his excellent work performance in the company over the last 3 years. - Waive of the remaining computer loan due to the company amounting to RM7,000. The following is the remuneration received related to his employment in 2021 for the 9 months that he served the company: - Total salary of RM72,000. - Travelling allowance from home to office amounts to RM2,000 and travelling allowance for official duties amounts to RM5,000. He spent RM4,500 on work travel during the year. - He received entertainment allowance of RM3,000, which he spent RM3,600 on the company's entertainment expenditure during the year. - At beginning of the year, he received RM300 for clothing allowance. He would purchase business attire suitable to the company's policy, and he is not expected to return the clothing upon the termination. - During the year, he received RM3,000 in childcare allowance for his 2-years child. In February 2021, he received an innovative award from the company with a cash award of RM2,200. On 10.10 .2020 , he was offered to purchase 5,000 units of the company's share for a price of RM2.50 per unit when the market value was RM2.80. He exercised the option in February 2021 when the market value increased to RM3 per unit. He also paid RM200 for the option cost of the stamping fee. - The company paid for his training as required by the industry, amounting to RM1,000 during the year. - A family holiday to Pulau Redang, where the company paid for the hotel accommodation and meals amounting to RM 1,000 . - An oversea leave passage for the family of 3 members (including Wan) covered by the company as follows: - Flight ticket and insurance totalling RM 10,000 - Hotel accommodation and meals are RM5,000 - Theme Park fee is RM2,000 - The company provided him with a company house for 8 months during the year with the following information: - The monthly rent is RM1,800. RM400 of the rental value is in respect of the fully furnished furniture provided in the house. The company paid the RM 1,000 utility bill for the house. A domestic helper to assist at the home provided by the company during the stay. He contributed RM2,000 towards the rental value of the house during his stay. Compute the adjusted employment income for Wan for the year assessment of 2021 . Indicate Nil/Exempt FEBRUARY 2022 1. Wan has served as a business consultant for Nestle Berhad for the past 3 years. On 30.9 .2021 , he was informed by the employer that he was to be terminated with immediate effect because the company had decided to reduce its operating costs. He received the following with regards to the termination: 1 month's salary of RM8,000 for being released from the company's work contract. - Gratuity of RM10,000 for his excellent work performance in the company over the last 3 years. - Waive of the remaining computer loan due to the company amounting to RM7,000. The following is the remuneration received related to his employment in 2021 for the 9 months that he served the company: - Total salary of RM72,000. - Travelling allowance from home to office amounts to RM2,000 and travelling allowance for official duties amounts to RM5,000. He spent RM4,500 on work travel during the year. - He received entertainment allowance of RM3,000, which he spent RM3,600 on the company's entertainment expenditure during the year. - At beginning of the year, he received RM300 for clothing allowance. He would purchase business attire suitable to the company's policy, and he is not expected to return the clothing upon the termination. - During the year, he received RM3,000 in childcare allowance for his 2-years child. In February 2021, he received an innovative award from the company with a cash award of RM2,200. On 10.10 .2020 , he was offered to purchase 5,000 units of the company's share for a price of RM2.50 per unit when the market value was RM2.80. He exercised the option in February 2021 when the market value increased to RM3 per unit. He also paid RM200 for the option cost of the stamping fee. - The company paid for his training as required by the industry, amounting to RM1,000 during the year. - A family holiday to Pulau Redang, where the company paid for the hotel accommodation and meals amounting to RM 1,000 . - An oversea leave passage for the family of 3 members (including Wan) covered by the company as follows: - Flight ticket and insurance totalling RM 10,000 - Hotel accommodation and meals are RM5,000 - Theme Park fee is RM2,000 - The company provided him with a company house for 8 months during the year with the following information: - The monthly rent is RM1,800. RM400 of the rental value is in respect of the fully furnished furniture provided in the house. The company paid the RM 1,000 utility bill for the house. A domestic helper to assist at the home provided by the company during the stay. He contributed RM2,000 towards the rental value of the house during his stay. Compute the adjusted employment income for Wan for the year assessment of 2021 . Indicate Nil/Exempt