Question
Mr Bo Kau Looi a manager at HWoutM earns RM10,000 salary per month. He has been working in the same company for the past 20
Mr Bo Kau Looi a manager at HWoutM earns RM10,000 salary per month. He has been working in the same company for the past 20 years. As an appreciation to his long service, he is provided with the following benefits: An unfurnished condo at 1 Persiaran Gurney. The rental of RM4,000 a per month is paid by Roti Kayas The employers portion of the Employees Provident Fund, 12% of his monthly salary A new Sports Utility Vehicle (SUV) costing RM150,000 was given to him since 2018. Since this car is a hybrid, the company does not provide him with any petrol allowances. A gardener who is paid RM400 per month. A half day maid who is paid RM500 per month. The company paid for RM10,000 worth of airfare for Mr Bo and his family to go for a holiday to see Elton John in Bangkok in January 2020. RM2,000 medical and dental benefits Mr Bo apart from his work receives the following additional income RM3,500 single tier dividend from Maybank Berhad Net dividend income of RM12,750. Interest income of RM2,000 from Bank Simpanan Nasional. Mr Bo writes songs for Radio Malaysia. Royalties of RM22,500 from the publishing of his songs. Rental income of RM2,200 per month. He pays interest of RM560 a month to Public Bank. He paid assessment and quit rent of RM1,350 a year. That year he repainted the house for RM1,000 and extended the kitchen for RM4,500. Mrs Bo is a full time housewife since she lost her job two years ago. They have two children 1. Stanley, 20 years old, is studying at Universiti Sains Malaysia. The university fees for 2020 amounted to RM18,000. 2. Josie, 15 years old, is studying SMJK(C) Ping Wah. The cost of her education is RM4,500 in 2020. During the year, Mr Bo incurred RM10,000 on treatment of diabetes in respect of his father. He pays a year takaful premium of RM1,400 to BSN Prudential.
-Required Compute the tax payable by Mr Bo Kau Looi for the year of assessment 2020.
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