Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 4 (12 Marks) Professor Dr Khan, a senior lecturer at one of public university in Malaysia and retired at the age of 60, received

image text in transcribed
Question 4 (12 Marks) Professor Dr Khan, a senior lecturer at one of public university in Malaysia and retired at the age of 60, received incomes as follows in year 2019: () A monthly pension of RM10,000 from the Government of Malaysia in respect of his former employment (ii) Dividend from his investment in Kenanga Bhd, a unit trust company amounting to RM22,000. (ii) Annuity of RM18,700 from Malaysian Life Insurance Bhd (incorporated in Malaysia) on 8 July 2018. (iv) Royalty from his books amounting to RM45,000. He also incurred the following costs on the book writing: RM Photocopies 500 Editing and typing 10,200 Stationary 1,200 Purchase of new laptop 3,500 (v) An interest on his investment amounting to RM18.100 remitted from Australia. (vi) Since his retirement, he is actively involved as a guest speaker in number of professional talks. A total of RM15,000 was received from his talk in the year 2019. (vii) Besides that, he owned an apartment in Kuala Lumpyer and rented it out. In the year 2019, the following information is available for his residential property: Receipts Payment - rental - deposit (refundable) - advance receipts - quit rent and assessment - repairs and maintenance - interest expense on loan - fire insurance - renovation on living hall RM 60,000 5,000 10,000 1,400 9,000 8,000 1,800 17,500 Required: Compute the amount to be assessed in YA 2019 for each source of income. (12 Marks) (CLO2.PL04:04)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction To Federal Income Taxation In Canada

Authors: Robert E. Beam, Stanley N. Laiken, James J. Barnett

33rd Edition

1554965020, 978-1554965021

More Books

Students also viewed these Accounting questions

Question

1. Share your own hobbies, interests, and favorites.

Answered: 1 week ago

Question

LO6 Define harassment and the role that HR plays in addressing it.

Answered: 1 week ago