Explain briefly any four differences in the tax treatments in respect of employment income and business income.
Question:
Explain briefly any four differences in the tax treatments in respect of employment
income and business income.
In respect of employment income, state any five types of benefits-in-kind that are
exempted from income tax. S13(1)(b)
State FOUR circumstances income from employment is deemed derived from Malaysia?
List FIVE exemptions under S13(1)(a) ITA 1967.
Distinguish between ‘contract of service’ – indicate the master and servant relationship and
‘contract for service’- who conducts a business and explains the importance of
distinguishing them
Explain how subsidized interest on loan by employer is taxed on the employees:
(a) internal loan;
(b) external loan;
(c) subsidized interest on loan of RM250,000 for education loan;
(d) subsidized interest on loan of RM350,000 for housing loan
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill