QUESTION 5 (a)
Very Sdn Bhd commenced operations on 1 March 2019. The
company's accounts were made up to 31 May 2020 and
subsequently to 31 May 2021.
The adjusted income of the company's business is as follows:
Accounting period
Adjusted income
1 March 2019 to 31 May 2020 RM135,000
1 June 2020 to 31 May 2021 RM240,000
Required:
i. State the basis period of the company for year of assessment
2020.
(3 marks)
ii. What is the adjusted income of Very Sdn Bhd for YA 2020
and YA 2021.
(4 marks)
QUESTION 5(b)
Baja Ltd entered into a contract with Beta Sdn Bhd in May
2020 to provide technical services for a period of 12 days for
RM120,000. During the 12 days period, Baja's staff
performed services in Malaysia for seven days and spent the
remaining five days working in the Hong Kong office. Beta
Sdn Bhd remitted the RM120,000 on 16 June 2020.
Required:
Calculate the amount of withholding tax, if any, which should
have been remitted by Beta to Inland Revenue Board.
QUESTION 5 (c)
Anthony, a Malaysian citizen, acquired an apartment on 10
April 2015 and disposed of it on 13 September 2018
generating an allowable loss of RM11,500 on the disposal.
Anthony acquired an office unit on 18 December 2017 for
RM300,000 and disposed of it on 22 November 2020 for
proceeds of RM350,000. He incurred stamp duty of RM1,500
on the acquisition of the office unit. The properties were held
for investment purposes.
Required:
Calculate Anthony's gain subject to RPGT in respect of the
disposal of the office unit.
