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Sharon is employed as an Executive Chef at The Breeze Hotel. She receives a salary of RM20,000 per month. Her employer provided her with a
Sharon is employed as an Executive Chef at The Breeze Hotel. She receives a salary of RM20,000 per month. Her employer provided her with a fully furnished apartment from 1 July 2021. The rental paid by her employer is RM2,000 per month (including RM300 for furniture). Her employer also provides her with a new Toyota Camry, which cost RM150,000, from 1 March 2021. The employer provides her with free petrol. Sharon is to be assessed using the prescribed value method. Required: Compute the benefit-in-kind taxable on Sharon for YA 2021, assuming she continues working until the end of the year. (4 marks) (b) Compute Value of Living Accommodation taxable on Sharon for YA 2021. (6 marks)
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