Mr Smart is works as a manager of an international company in Kajang, Selangor. Upon attaining the
Question:
Mr Smart is works as a manager of an international company in Kajang, Selangor. Upon attaining the age of 55 years, Mr Smart retired on 30 September 2020, after having worked for 32 years with his one and only employer.
During the year 2020, his income and benefits from this employment were:
In January 2020, his son was warded in a private hospital for serious illness while vacationing in Tokyo. His son medical expense amounting to RM4,100 is paid by Mr. Smart company.
During the nine months prior to his retirement, Mr Smart was provided with a company car which his employer had acquired as a new car two years earlier at a price of RM85,000. Free fuel was provided to him by his employer.
Required:
Compute statutory income of Mr. Smart for the YA 2020.
Excellence in Business Communication
ISBN: 978-0136103769
9th edition
Authors: John V. Thill, Courtland L. Bovee