CONFIDENTIAL 1 AC/APR 2019/TAX267
UNIVERSITI TEKNOLOGI MARA
COMMON TEST 1
ANSWER SCHEME
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COURSE : TAXATION 1
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COURSE CODE : TAX267
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EXAMINATION : APRIL 2019
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TIME : 1 1/2 HOURS
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CONFIDENTIAL 2 AC/APR 2019/TAX267
SOLUTION 1
A.
Such person will be the chargeable person assessable to tax on his income derived from
such taxable activities.
The tax rate applicable for each category of chargeable person varies, some are taxed
at flat rate (28%) and some are taxed at a scale rate (0 – 28%)
(2 x 1 mark = 2 marks)
B.
Personal gift
Gain from disposal of long term investment
Speculation, windfall gains
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Gambling
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Sale of capital assets (motor vehicles, factory, plant and machinery)
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Any acceptable answers
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(Any 3 x 1 mark = 3 marks)
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(Total: 5 marks)
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SOLUTION 2
A.
YA Period of stay No. of days Status Section Reason
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2013 Nil Nil R 7(1B) He was Malaysian citizen who
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work with statutory authority. He
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not in Malaysia due to exercising
his employment outside Malaysia.
2014 1/7 – 31/12 184 R 7(1)(a) He stayed in Malaysia for at least
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182 days
1/1 – 28/2
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2015 59 R 7(1)(b) He stayed in Malaysia for less than
182 days and the period is linked
by another period (2014) for at
least 182 consecutive days
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including TA
2016 Nil Nil R 7(1)(d) He was resident in three
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immediate preceding years
(2015,2014, 2013) and resident in
the immediate following year
(2017).
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2017 15/8 – 30/9 47 R 7(1)(c) He stayed in Malaysia for at least
(1/10 – 14/10) (14)TA 90 days and 3 out of 4 immediate
15/10 – 15/12 62 preceding years (2015, 2014,
109 2013) he was either resident or
stayed in Malaysia for at least 90
days
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CONFIDENTIAL 3 AC/APR 2019/TAX267
2018 1/3 – 31/10 245 R 7(1)(a) He stayed in Malaysia for at least
182 days
(24 x 0.5 mark = 12 marks)
B.
Tax will be charge at scale rate
Entitle to claim personal tax relief
Entitle to claim rebate if the chargeable income does not exceed RM35,000
Any acceptable answers
(Any 3 x 1 mark = 3 marks)
(Total: 15 marks)
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SOLUTION 3
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Computation of Employment Income for Nur Thara for YA 2018
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Section 13(1)(a)
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Gratuity [89,200 - (1,000 x 7 years)] 82,200
Salary [(6,455+1,500+500) x 100/89] x 11 months 104,500 √√√
Bonus (9500 x 3 months) 28,500 √√
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Share option [(5.49 - 3.00) x 15,000 unit] 37,350 √√√
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Reimbursement- driver (1,500 x 11 mth) 16,500
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Entertainment Allowance (1,700 x 11 mth) 18,700 √√
Gift Voucher – not related to work nil √
Child care allowance (4,200-2,400 exempt) 1,800 √√
289,550
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Section 13(1)(b)
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Furniture (3,360 x 6/12) 1,680 √√
Domestic servant (maid) (400 x 6 mth) 2,400 √√
Car (5,000 x 11/12) 4,583 √√
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Leave passage - Mabul Nil √
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Scuba diving course 2,500 √
Medical treatment 50,000 √
61,163
Section 13(1)(c )
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DV = (3,500-1,000) √ x 11 mths √ =27,500
or
30 % of Section 13(1)(a) - Share Option
= 30% (289,550-37,350)
=75,660√
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CONFIDENTIAL 4 AC/APR 2019/TAX267
TLO: 27,500 x 6/11√ = 15,000 15,000 √
Section 13(1) (d)
Withdrawal from Unapproved fund
(160,000 x 60%) 96,000 √√
Section 13(1)( e)
Compensation for loss of employment
[125,000 - (10,000 x 7 years)] 55,000 √√
Gross employment income √ 516,713
Less: Allowable expenses
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Maintenance (500 x 6 months) (3,000) √
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Entertainment expenses (Restricted) (18,700) √
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Statutory Employment Income √ 495,013
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1√ provided for correct in all sections applied.
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(40 √ x 0.5 mark = 20 marks)
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END OF SUGGESTED SOLUTION
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