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ACC424 (F) / Page 1 of 3 INTI INTERNATIONAL UNIVERSITY B.A.

(HONS) IN ACCOUNTING, UNIVERSITY OF HERTFORDSHIRE ACC424: MALAYSIAN TAXATION FINAL EXAMINATION: JANUARY 2012 SESSION This paper consists of TWO (2) sections. Answer ALL questions in SECTION A and any TWO (2) questions from SECTION B in the answer booklet provided. SUPPLEMENTARY INSTRUCTIONS 1. Calculations and workings should be made to the nearest RM. 2. All apportionments should be made to the nearest whole month. 3. All workings should be shown. TAX RATES AND ALLOWANCES The following tax rates, allowances and values are to be used in answering the questions. Income tax rates Resident individuals Chargeable income RM First 2,500 (0 2,500) Next 2,500 (2,501 5,000) Next 15,000 (5,001 20,000) Next 15,000 (20,001 35,000) Next 15,000 (35,001 50,000) Next 20,000 (50,001 70,000) Next 30,000 (70,001 100,000) Exceeding 100,000 Resident company Paid up ordinary share capital RM2,500,000 or less More than RM2,500,000 Non-resident Company Individual Rate % 0 1 3 7 12 19 24 26 First RM500,000 20% 25% Cumulative tax RM 0 25 475 1,525 3,325 7,125 14,325

Excess over RM500,000 25% 25% 25% 26%

Personal reliefs and allowances

ACC424 (F) / Page 2 of 3 RM 9,000 6,000 5,000 5,000 5,000 300 5,000 1,000 3,000 3,500 1,000 4,000 5,000 6,000 1,000 3,000 3,000 500

Self Disabled self, additional Medical expenses expended for parents (maximum) Medical expenses expended on self, spouse or child with serious disease, including up to RM500 for medical examination (maximum) Basic supporting equipment for disabled self, spouse, child or parent (maximum) Purchase of sports equipment (maximum) Fees expended for skills or qualifications (maximum) Expenses on books for personal use (maximum) Spouse relief Disabled spouse, additional Child (each) Child higher rate (each) Disabled child (each) Life insurance premiums and contributions to approved provident funds (maximum) Deferred annuity premiums (maximum) Medical or education insurance premiums for self, spouse or child (maximum) Purchase of a personal computer (maximum) 3,000 Deposit for a child into the National Education Savings Scheme (maximum) Broadband subscription (maximum)

Rebates Chargeable income not exceeding RM35,000 Individual Individual who has been given a deduction in respect of a spouse or former wife

RM 400 800

Value of benefits in kind

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Other benefits RM per month Household furnishings, apparatus and appliances: Semi-furnished with furniture in the lounge, dining room, or bedroom Semi-furnished with furniture as above plus air-conditioners and/or curtains and carpets Fully furnished premises Domestic help 400 Gardener Driver Capital allowances Initial allowance (IA) Rate % Industrial buildings 10 Plant and machinery general 20 Motor vehicles and heavy machinery 20 Office equipment, furniture and fittings 20 70 140 280 300 600

Annual allowance (AA) Rate % 3 14 20 10

Sales and Service Tax Sales Tax Service Tax 10% 6%

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