Question
TOPIC: INCOME & RENT Mr Chua is a director in Castle Development Sdn Bhd, a company that provides consultation for housing development. In 2009, Mr
TOPIC: INCOME & RENT
Mr Chua is a director in Castle Development Sdn Bhd, a company that provides consultation for housing development. In 2009, Mr Chua bought a three-storey shop office worth RM1 million in one of the commercial areas in the city of Kuala Lumpur as a future investment but he never rented the property to anybody as yet. However in March 2020, due to the pandemic and the restriction of Movement Control Oder by the Government, his nephew was stranded in Kuala Lumpur and had rented one storey of Mr Chua's shop office for RM2500 per month and the contract was ended in December 2021. Advice Mr Chua on the following for the tax assessment year 2021:
- Determine the issue of Mr Chua's situation.
- Discuss the principles of law connected with the revenue law.
- Explain the application of Mr Chua's case.
Step by Step Solution
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Step: 1
Based on the scenario provided Mr Chuas situation involves the ownership of a threestorey shop office purchased as an investment in 2009 The property ...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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