Taxation

a) SAND Sdn. Bhd. prepares its accounts annually for the year ended 30 September. The company changed its accounting date to 28 February and prepared its accounts as follows:

1 October 2019 to 28 February 2021

1 March 2021 to 28 February 2021

Required: Determine the basis periods of SAND Sdn. Bhd. for each of the relevant years of assessment. [3 marks]

b) TOYOTA Sdn. Bhd. has been in operation for 5 years and prepares its accounts to 30 September each year. TOYOTA Sdn. Bhd. commenced a new business source on 1 July 2021

Required: Determine the basis period of TOYOTA Sdn. Bhd. for the year of assessment 2021 in respect of both the existing operations and the new business.

(2 marks)

c. SLIM Sdn. Bhd. commenced operations on 10 June 2020 and prepared its accounts to 30 April 2021 and subsequently to 30 April annually.

Required: Determine the basis periods of SLIM Sdn. Bhd. for each of the years of assessment 2020, 2021 and 2022.

(3 marks)

d. Main Sdn Bhd commenced a food catering business on 1 February 2003 and the accounts were prepared for the following period:

Accounting Period Adjusted Income/(Loss) RM

1 February 2021 to 30 June 2022 34,000

1 July 2022 to 30 June 2023 (12,000)

1 July 2023 to 30 June 2024 20,000

Required: State the basis periods for Main Sdn Bhds business for the years of assessment 2021 to 2024.

(5 marks)

e. Raju Sdn Bhd, with an authorized share capital of RM2.2 million, incurred RM200,000 incorporation costs on 3 March 2020. Raju commenced business on 1 April 2021 and prepared its first set of accounts to 30 June 2022 and to that date for subsequent years. On 1 September 2023, the company decided to change its accounting year end to 31 March 2024.

Required: State the basis periods for Raju Sdn Bhds business for the relevant years of assessment.

(7 marks)