Question
Question Encik Zubir ( a certified handicapped person ) is the owner of a financial consulting firm, Bijak Wealth Enterprise. The business assists its clients
Question
Encik Zubir a certified handicapped person is the owner of a financial consulting firm, Bijak Wealth Enterprise. The business assists its clients to grow their wealth. Encik Zubir is married to Puan Akmar who is currently working as a pharmacist in Putrajaya Hospital. Both of them are tax resident in Malaysia for the year of assessment The following is the summary of income provided by Encik Zubir and Puan Akmar in respect of the basis year :
Encik Zubir
The adjusted income and capital allowance for Bijak Wealth Enterprise were RM and RM respectively.
The following were income and expenses in connection with Encik Zubirs terrace house:
RM
Rental income per month
Advance rental months
Assessment for
Advertisement cost
Quit rent for
Quit rent for
Penalty for late payment of quit rent
Repair and maintenance on April
The terrace house was occupied by Encik Zubir until April and effective from June the house was rented out to a tenant named Encik Kadir.
Interest income of RM from a fixed deposit with Maybank.
Royalty amounted to RM from Network Publishing upon book published titled You are a Smart Millionaire
Puan Akmar
A monthly salary of RMafter EPF,
Dividend income of RM received from investment in Singaporean company. The dividend was remitted to Malaysia in
Due to her knowledge and expertise, she received invitations from several medical colleges to conduct workshops pertaining to her expertise in medicines and food supplements. The honorarium received was RM
Additional Information:
a Encik Zubir and Puan Akmar were blessed with four children:
Mawar
Aged years old, working as an auditor and pursuing her studies in Master of Forensic Accounting & Financial Criminology at UTM on parttime basis
Megat
Aged years old, studying medicine in India under a full scholarship. Encik Zubir incurred RM for his study in
Melati
Aged years old, studying matriculation in Tangkak, Johor
Jebat
Aged years old, a legal adopted son who was certified as handicapped due to moderate down syndrome. Jebat attending special school in Putrajaya
b Encik Zubir incurred RM for month day care services for his father, aged years old who is suffering mental illness. His father is living with him. His mother passed away in
c Encik Zubir purchased books and smart phone for Puan Akmar amounted RM and RM respectively.
d Encik Zubir incurred RM for Melatis laptop.
e Encik Zubir paid RM as zakat perniagaan to Majlis Agama Islam Wilayah Persekutuan Cawangan Putrajaya. He also paid zakat fitrah amounted to RM
f Encik Zubir incurred RM for annual medical insurance premium for his family.
g Puan Akmar incurred RM for a mountain bike and RM for internet subscription.
h Puan Akmar bought a wheelchair for her paralysed brother for RM She also bought health supplements for her parents amounted to RM
i Puan Akmar donated RM to Majlis Kanser Negara MAKNA
j Puan Akmar also paid Melatis complete medical checkup amounted to RM The receipt was issues by KPJ Kajang.
k Puan Akmar incurred RM for a mountain bike and RM for internet subscription.
l Puan Akmar bought a health supplements for her parents amounted to RM
m Puan Akmar also paid Melatis complete medical checkup amounted to RM The receipt was issues by KPJ Kajang.
n Both Encik Zubir and Puan Akmar paid zakat during the year amounting to Majlis Agama Islam Wilayah Persekutuan Cawangan Putrajaya, amounting to RM and RM respectively.o Encik Zubir subscribe gym membership amounting RM for his family.
p Puan Akmar also paid Jebats monthly fees amounting RM that serve special needs for child care registered centre
Required:
Compute the income tax payable for Encik Zubir and Puan Akmar for the year of assessment To optimize tax relief, Encik Zubir and Puan Akmar are still undecided about whether to do a joint or separate assessment. Round up to the nearest ringgit
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