Purpleheart Trade Association was established on 1 January 2015. It reported the following income and expenditure for the year ended 31 December 2019.

RM
Income:
Members subscription fees	20,000
Business activities	80,000
Rental income (from rental of the building owned by the association)	15,000
Interest income on fixed deposit	8,000
Donation (60 percent of the donation was for the purpose of office renovation)	30,000
Expenditure:
Director’s fees	(20,000)
Employees remuneration	(10,000)
Surplus	123,000

REQUIRED:

Compute the chargeable income for Purpleheart Trade Association for the year ended 31 December 2019.

Using Malaysian tax law

Answer rating: 100% (QA)

Compute the chargable income for Purple hear... View the full answer