Louisa is a lecturer at a public university and a single mother of three (3) children....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Louisa is a lecturer at a public university and a single mother of three (3) children. All her children are under her custody and all of them are still schooling. Below are the information related to her family. Financial information Louisa's salary for the year 2021 Education fees: 1st child (university) 2nd child (private school) 3rd child (handicapped and studying in University) Alimony from husband (monthly) Textbooks Laptop Handicapped equipment Dividends from tabung haji Medical check up for her handicapped child Zakat Monthly tax deductions RM 108,000 45,000 15,000 30,000 1,500 1,600 3,000 6,000 1,500 950 1,000 150 Note: Refer to Malaysia Tax Relief information Required: For the year of assessment of 2021, determine the income tax payable by Louisa. Louisa is a lecturer at a public university and a single mother of three (3) children. All her children are under her custody and all of them are still schooling. Below are the information related to her family. Financial information Louisa's salary for the year 2021 Education fees: 1st child (university) 2nd child (private school) 3rd child (handicapped and studying in University) Alimony from husband (monthly) Textbooks Laptop Handicapped equipment Dividends from tabung haji Medical check up for her handicapped child Zakat Monthly tax deductions RM 108,000 45,000 15,000 30,000 1,500 1,600 3,000 6,000 1,500 950 1,000 150 Note: Refer to Malaysia Tax Relief information Required: For the year of assessment of 2021, determine the income tax payable by Louisa.
Expert Answer:
Answer rating: 100% (QA)
Income Tax Payable by Louisa for 2021 Base Tax 108000 x 24 RM25920 Less Personal Tax Relief RM80... View the full answer
Related Book For
South Western Federal Taxation 2015 Essentials Of Taxation Individuals And Business Entities
ISBN: 9781285438290
18th Edition
Authors: James Smith, William Raabe, David Maloney, James Young
Posted Date:
Students also viewed these accounting questions
-
Below is the information related to the Malaysian Federal Government budget for the year 2020 (revised estimate). The 2021 budget is prepared based on the 2020 (revised estimate) budget. Summary of...
-
Below is the information related to the company Travel Inc. as of December 31, 2021: Sales Revenue $15,700,000 Rent Revenue 24,000 Interest Revenue 18,000 Cost of Goods Sold 6,350,000 Selling...
-
The information related to interest expense of Classic Music, Inc is given below Net income $ 258,000 Income tax expense 109,000 Interest expense 67,000 Based on the above data, What is the...
-
1. Prepare program using threads in java that can print 10 times the numbers 1,2,3,4,5 in a series. 2. Prepare program using threads and a semaphore in java that can print the numbers 1,2,3,4,5 in a...
-
McGilla Golf has decided to sell a new line of golf clubs. The clubs will sell for $875 per set and have a variable cost of $430 per set. The company has spent $150,000 for a marketing study that...
-
Harley-Davidson motorcycles are often called hogs. Indeed, some dictionaries even define hog as a motorcycle, especially a large one. While Harley- Davidson had mixed feelings about its products...
-
The payroll disbursements were for two persons named Ciotty and Ciotti with the same first name and address. The interesting observation is that Ciotty is dated February 28, 2019, or after while...
-
Chateau Beaune is a family-owned winery located in the Burgundy region of France, which is headed by Gerard Despinoy. The harvesting season in early fall is the busiest part of the year for the...
-
(1) Write a MATLAB script to find area using the Simpson's 3/8 rule. The code should perform all checks on the number of data points required for application of the rule assuming equally spaced data....
-
Match correct purposes, contents, and users regarding SOC reports. Purposes/Contents/Users a. Easy to read by the general public in a summary format on security, availability, processing integrity,...
-
Recall the general block matrix form of the k-th tableau Tk, i.e., the tableau obtained after performing k pivots on the initial tableau To: [ A I b -1 cT 0 0 R RA R Rb 1 1 cT - yTA -y -yb (a) When...
-
Carlos and Yifan compete in Cournot competition. Demand in their market is given by P=144-2Q. Carlos has a constant marginal cost of 8; Yifan has a constant marginal cost of 10. This is a one-shot...
-
A 60 kg skier is sliding on a 12 o incline for which mk = 0.12. She starts from rest and slides 16 m down the slope. What is the work done on her (a) by the force of gravity, (b) by the force of...
-
A bank offers you a certificate the yields $600 per year, starting at the end of 1999 and up to the end of 2018 (n=20 years), plus one single payment of $10,000 at the end of 2018. Assuming that you...
-
What is the minimum diameter mirror on a telescope that would allow you to see details as small as 5.05 km on the moon some 389000 km away? Assume an average wavelength of 530 nm for the light...
-
In a limited partnership, the liability of the limited partners generally is restricted to the amount of funds that they have invested in the company but the general partners have unlimited liability.
-
Whatever ones philosophy regarding work, it is through management tasks such as policy making, organizing, financing, and controlling that a public institution directs its efforts towards goal...
-
With your classmates, form small teams of skunkworks. Your task is to identify an innovation that you think would benefit your school, college, or university, and to outline an action plan for...
-
Gull Corporation, a cash method, calendar year C corporation, was formed and began business on November 1, 2014. Gull incurred the following expenses during its first year of operations (November 1,...
-
To what extent are the personal assets of a general partner, limited partner, or member of an LLC subject to (a) Contractual liability claims, such as trade accounts payable, and (b) Malpractice...
-
Pedro contributes a painting to an art museum in October of this year. He has owned the painting for 12 years, and it is worth $130,000 at the time of the donation. Pedro's adjusted basis for the...
-
Consider the electrical circuit shown below where \(v_{i}(t)=\beta\), for \(t \geq 0\). Find the dynamic system response \(v_{o}(t)\). VC C ww R V;(t) R ww R3 A First-Order Electrical System Vo (t) +
-
Find the dynamic system response for the spring mass damping system shown in Figure 3.2, where \(f(t)=\beta, x(0)=0\) (i.e. there is no initial energy stored). b f(t) k Figure 3.2 A first-order...
-
Consider a first-order system with a forcing function \(f(t)\) such that input-output differential equation is given by \[\begin{equation*}\dot{y}+3 y=f(t) \text {, } \tag{3.7}\end{equation*}\] where...
Study smarter with the SolutionInn App