Martha is an Australian and has been working as an engineer for OCC Sdn Bhd in...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Martha is an Australian and has been working as an engineer for OCC Sdn Bhd in Malaysia for a few years. Her contract ends on 28 February 2022, she utilised all her accumulated annual leave before the end of her contract and moved back permanently to Australia on 31 December 2021. Her income is as follows: RM Salary 10,000 per month 1,000 per month Travelling allowance Martha was only entitled to the travelling allowance if she carries out her duties in that month. OCC purchased a new car worth RM 70,000 to be used for her official duties with no fuel provided. She stayed in a semi-furnished house (equipped with air-conditioner) rented by the company until she left Malaysia. The house was rented at a monthly rent of RM 4,300, of which, RM 300 was for the furnishing. During the year 2021, Martha incurred a total travelling expense of RM 1,500 because she needed to travel between multiple petroleum refinery plants. All receipts for travel were properly kept. Required: Compute the employment income for Martha for the year of assessment 2021, DTA is to be disregarded. (5 marks) Martha is an Australian and has been working as an engineer for OCC Sdn Bhd in Malaysia for a few years. Her contract ends on 28 February 2022, she utilised all her accumulated annual leave before the end of her contract and moved back permanently to Australia on 31 December 2021. Her income is as follows: RM Salary 10,000 per month 1,000 per month Travelling allowance Martha was only entitled to the travelling allowance if she carries out her duties in that month. OCC purchased a new car worth RM 70,000 to be used for her official duties with no fuel provided. She stayed in a semi-furnished house (equipped with air-conditioner) rented by the company until she left Malaysia. The house was rented at a monthly rent of RM 4,300, of which, RM 300 was for the furnishing. During the year 2021, Martha incurred a total travelling expense of RM 1,500 because she needed to travel between multiple petroleum refinery plants. All receipts for travel were properly kept. Required: Compute the employment income for Martha for the year of assessment 2021, DTA is to be disregarded. (5 marks)
Expert Answer:
Answer rating: 100% (QA)
Answers The employment income of Martha in the period of 10 months Feb 28 to Dec 2... View the full answer
Related Book For
Posted Date:
Students also viewed these finance questions
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
You are required to prepare personal income tax returns using a tax software as part of the evaluation components for this course. The case study covers all the rules learned in this course. The...
-
For the last five years, Mrs. Rosetta Stone has been working as a technical writer and translator for Brandan Books Incorporated, (BB Inc.), a Canadian controlled private company located in Kamloops,...
-
Social welfare is maximized when O Total social benefits have been maximized O total social costs have been minimized O total social costs equal total social benefits O marginal social costs equal...
-
1. Find the maximum current in an ac circuit where the instantaneous current at = 45.0 is 4.00 A. 2. The instantaneous voltage in an ac circuit at = 55.0 is 450V. Find the maximum voltage. 3. If...
-
Evert Company makes two types of circuit boards. One is a high-caliber board designed to accomplish the most demanding tasks; the other is a low-caliber board designed to provide limited service at...
-
Jack Swanson gave a creditor a 90-day, eight percent note payable for \(\$ 7,200\) on December 16 . What adjusting entry should Swanson make on December 31 ?
-
Revenue usually is recognized at the point of sale. Under special circumstances, however, bases other than the point of sale are used for the timing of revenue recognition. Required 1. Why is the...
-
4 ints 03-44.04 Dorsey Company manufactures three products from a common input in a joint processing operation. Joint processing costs up to the split-off point total $350,000 per quarter. For...
-
Greenville has provided the following information from its General Fund Revenues and Appropriations/ Expenditure/Encumbrances subsidiary ledgers for the fiscal year ended. Assume the beginning fund...
-
One of Sure-Bet Sherbets best-selling products is raspberry sherbet, which is manufactured in 10-gallon batches. Each batch requires six quarts of raspberries. The raspberries are sorted by hand...
-
Algebra review: Solving systems of equations Y = 106-6*X Y=8*X-88 Solve for the value of X where these two equations are equal. Enter your response to 1 decimal place 9 I
-
This year, GHJ, Incorporated received the following dividends: BP, Incorporated (a taxable California corporation in which GHJ holds a 3% stock interest) MN, Incorporated (a taxable Florida...
-
You may hear someone say, "Technology makes people lazy." Do you think this is true? Evaluate the impact that changes in technology have had on your personal growth and development. For example, did...
-
2. Write an expression that is a 1 only if all its variables (A, B, C, D, and E) are 1s. 3. Write an expression that is a 1 when one or more of its variables (A, B, and C) are Os.
-
Accounting standards and procedures in the United States have a major influence on the translation exposure of U.S.-based MNCs. One such standard is the requirement that MNCS use a weighted average...
-
PART XI. Brand Company manufactures computer stands. Cost of Goods Sold is P125, 000, the ending balance of Finished Goods Inventory less than its beginning balances. The Cost of Goods Manufactured...
-
In the busy port of Chennai, India, the number of containers loaded onto ships during a 15-week period is as follows: 1. Develop a linear trend equation to forecast container loadings. 2. Using the...
-
1. Outline the steps to go through to seek redress. 2. Summarize the FTC's cooling-off rule to cancel a contract. 3. Distinguish between mediation and arbitration. 4. How do lemon laws work?
-
(a) Review the familys budget and make suggestions about how to modify various budget estimates so that they could save $200 per month for the education fund. (b) Briefly describe the effect of your...
-
1. Explain the purpose and value of a lease for both the renter and the landlord. 2. Distinguish between periodic tenancy and tenancy for a specific time when renting housing. 3. Identify three ways...
-
Explain the following (related to bonds): (a) Par value. (b) Trustee. (c) Debenture. (d) Zero coupon bond. (e) Floating-rate note.
-
The inexperienced finance trainee at Mugs-R-Us plc says that he can save the company money on its forthcoming issue of ten-year bonds. The rate of return required for bonds of this risk class in the...
-
What are the differences between a domestic bond, a Eurobond and a foreign bond?
Study smarter with the SolutionInn App