Rich Future Fund Sdn Bhd Income/(Loss): Dividend income – Malaysia 4,454,000 Dividend income – overseas 650,000 Interest income from deposits with licensed financial institutions 129,700 Rental from business outlet in Penang 120,000 Realised loss from foreign exchange (68,400) Common expenses: Trustee’s fee 250,000 Manager’s remuneration 1,450,000 Audit fee 15,000 Tax agent fees 6,000 Share registration expenses (transaction cost) 398,000 Management fee in respect of outlet in Penang 32,000 Telephone,printing and stationeries 20,000 Required: Compute the chargeable income for Rich Future Fund Sdn Bhd

Rich Future Fund Sdn Bhd Income/(Loss): Dividend income – Malaysia 4,454,000 Dividend income – overseas 650,000 Interest income from deposits with licensed financial institutions 129,700 Rental from business outlet in Penang 120,000 Realised loss from foreign exchange (68,400) Common expenses: Trustee’s fee 250,000 Manager’s remuneration 1,450,000 Audit fee 15,000 Tax agent fees 6,000 Share registration expenses (transaction cost) 398,000 Management fee in respect of outlet in Penang 32,000 Telephone,printing and stationeries 20,000 Required: Compute the chargeable income for Rich Future Fund Sdn Bhd

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter25: Taxation Of International Transactions

Section: Chapter Questions

Problem 25P

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