Both Mr Najibruddin and his wife, Rosnah working at one of the renowned public universities in...

 

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Both Mr Najibruddin and his wife, Rosnah working at one of the renowned public universities in northern region. Mr Najibruddin working as a lecturer with basic salary of RM7,500. Starting this year he received salary increment about 4%. He contributes 8% of his salary to the Employee Provident Fund (EPF) for the retirement purposes. While his wife, Rosnah works as a senior officer at the Bursar Department with a monthly income RM4,500. She has chosen for pension scheme as her retirement option. They have four children. The eldest is 22 years old studying at university abroad, while they second son just enrolled into local university. Their third children, Marinah is still schooling at secondary level. Their last son was diagnosed with syndrome down since born and now at primary school. Mr Najibruddin hold a position as a dean at his department and he received RM900 allowance every month. Apart from that, Mr Najibruddin also has been appointed as Shariah advisor at one of the Islamic Bank in Kuala Lumpur with monthly allowance RM2,000. Despite of his busy schedule, he managed to works part time during the weekend as a part time lecturer at private college where he earns RM1,500 a month. Additionally, this year, the government has announced to give bonus RM1,000 lump sum to ease the burden of the government servant. This partner also makes a monthly contribution to Jabung Haji amount RM200 each one for saving cum investment plan. Additionally, Najibruddin and his wife have been paid RM400 and RM200 monthly income tax respectively. The details about Mr Najibruddin and Madam Rosnah additional wealth/assets information were stated below: List of assets with their current values at year ended December 2018. Assets Najibruddin Rosnah Saving account 50,000 30,000 Amanah Saham Berhad (ASB Financing) 200,000 200,000 Perisai Oil and Gas Shares 10,000 Bank Sama Sama Shares 50,000 Mr Najibruddin and Madam Rosnah claimed the following expenses at the year ended 2018. Items Najibruddin Rosnah Parents and medical expense 7,500 0 Full medical check up 550 450 Books and Journal 1,500 300 Tablet Iphone 0 2,500 Life takaful premium 2,400 0 Education fees 0 7,500 Zakat 4,000 1,000 *Mr Najibruddin's wife claimes relief for their disable child. * ASB has announced their dividend 7.5% for that particular year. * The current value for nisab is RM14,835. Based on the information given above (a) Compute zakat assessment for both Mr Najibruddin and Madam Rosnah for the year ended 2018 (b) Compute tax assessment for both parties, Mr Najibruddin and Madam Rosnah for the year ended 2018 Both Mr Najibruddin and his wife, Rosnah working at one of the renowned public universities in northern region. Mr Najibruddin working as a lecturer with basic salary of RM7,500. Starting this year he received salary increment about 4%. He contributes 8% of his salary to the Employee Provident Fund (EPF) for the retirement purposes. While his wife, Rosnah works as a senior officer at the Bursar Department with a monthly income RM4,500. She has chosen for pension scheme as her retirement option. They have four children. The eldest is 22 years old studying at university abroad, while they second son just enrolled into local university. Their third children, Marinah is still schooling at secondary level. Their last son was diagnosed with syndrome down since born and now at primary school. Mr Najibruddin hold a position as a dean at his department and he received RM900 allowance every month. Apart from that, Mr Najibruddin also has been appointed as Shariah advisor at one of the Islamic Bank in Kuala Lumpur with monthly allowance RM2,000. Despite of his busy schedule, he managed to works part time during the weekend as a part time lecturer at private college where he earns RM1,500 a month. Additionally, this year, the government has announced to give bonus RM1,000 lump sum to ease the burden of the government servant. This partner also makes a monthly contribution to Jabung Haji amount RM200 each one for saving cum investment plan. Additionally, Najibruddin and his wife have been paid RM400 and RM200 monthly income tax respectively. The details about Mr Najibruddin and Madam Rosnah additional wealth/assets information were stated below: List of assets with their current values at year ended December 2018. Assets Najibruddin Rosnah Saving account 50,000 30,000 Amanah Saham Berhad (ASB Financing) 200,000 200,000 Perisai Oil and Gas Shares 10,000 Bank Sama Sama Shares 50,000 Mr Najibruddin and Madam Rosnah claimed the following expenses at the year ended 2018. Items Najibruddin Rosnah Parents and medical expense 7,500 0 Full medical check up 550 450 Books and Journal 1,500 300 Tablet Iphone 0 2,500 Life takaful premium 2,400 0 Education fees 0 7,500 Zakat 4,000 1,000 *Mr Najibruddin's wife claimes relief for their disable child. * ASB has announced their dividend 7.5% for that particular year. * The current value for nisab is RM14,835. Based on the information given above (a) Compute zakat assessment for both Mr Najibruddin and Madam Rosnah for the year ended 2018 (b) Compute tax assessment for both parties, Mr Najibruddin and Madam Rosnah for the year ended 2018

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a Compute zakat assessment for both Mr Najibruddin and Madam Rosnah for the year ended 2018 Za... View the full answer