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please do it in detail Part A On 11 August 2019, Mr. Wee had finalised his purchase of a semi-detached house in Bukit Bintang and
please do it in detail
Part A On 11 August 2019, Mr. Wee had finalised his purchase of a semi-detached house in Bukit Bintang and decided to turn the house into an investment property for extra income. The house was made available for rent at RM15,000 per month. Continued... NDM/RMZ 5/12 BAC2674 TAXATIONI 30 NOVEMBER 2021 On 15 December 2019, Mr. Wee had entered into a three-year rental agreement starting from January 2020 with Mr. Kruger. Mr. Kruger is to pay Mr. Wee a refundable security deposit of three-month rental and a utility deposit of RM3,000 before 31 January 2020. During the year 2020, Mr. Wee had incurred the following expenditures with regard to the house. Legal cost for preparing the first rental tenancy agreement and stamp duty Installation of air-conditioners, water heaters, and water purifiers Furniture and fittings Fire insurance premium for the year 2020 Interest on loan for the year 2020 Quit rent and assessment RM 4,100 28.800 19,860 3.000 57,360 2.040 115,160 Required: Compute the statutory rental income of Mr. Wee for the Year of Assessment (YA) 2020. Indicate "nil in appropriate column for all items that do not require any adjustment. (6 marks) Step by Step Solution
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