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QUESTION 1 Nazrul was appointed as a financial manager of MCMC Bhd in Cyberjaya since 1 February 2012. MCMC Bhd restructured its business operation in

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QUESTION 1 Nazrul was appointed as a financial manager of MCMC Bhd in Cyberjaya since 1 February 2012. MCMC Bhd restructured its business operation in 2021 and Nazrul was retrenched on 30 September 2021. He was paid compensation for loss of employment of RM200,000. Details of his remuneration for 2021 are as follows: Net salary of RM9,300 per month after deducting EPF at the rate of 11%. Bonus equivalent to one month salary. Nazrul's monthly travelling and entertainment allowances were of RM2,250 and RM2,700 respectively. A fully furnished condominium was provided to Nazrul until 30 September 2021. The condominium rental paid by the employer was RM1,500 per month. A brand new Nissan Serena costing RM180,000 and a driver were provided to Nazrul since his first day with the company until 30 September 2021. A servant and a driver were provided to Nazrul until 30 September 2021. They were each paid RM1,000 per month by MCMC Bhd. Nazrul and his wife went for a vacation in Sweden and Pulau Pangkor in May 2021. The following expenses were paid by MCMC Bhd: Nazrul incurred entertainment expenses of RM8,200 and travelling expenses of RM10,000 in carrying out his official duties. Corporate membership to the Subang Golf Club, both entrance fee of RM3,450 and monthly subscription fee of RM500 were paid by company. Medical and dental expenses for Nazrul and his family for the year 2021 paid by his employer was RM2,600. Tuition fees of RM5,000 was paid by the company for his son's education in private secondary school. Required: Compute Namul's aggregate income for the year of assessment 2021 . Note: You should indicate by the use of the word 'nil' any item referred to in the question for which no adjusting entry needs to be made, including any relief or rebate, in the tax computation. Total: 25 marks

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