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Question 1 Faisal was employed as a halal compliance officer from 1 January 202...
Jul 1, 2024
Solution by Steps
step 1
Calculate Faisal's total income from January to February 2023: Salary=2×9000=18000 \text{Salary} = 2 \times 9000 = 18000 Travelling Allowance=2×3000=6000 \text{Travelling Allowance} = 2 \times 3000 = 6000 Total Income (Jan-Feb)=18000+6000=24000 \text{Total Income (Jan-Feb)} = 18000 + 6000 = 24000
step 2
Calculate Faisal's total income from March to December 2023: Salary=10×20000=200000 \text{Salary} = 10 \times 20000 = 200000 Entertainment Allowance=10×2200=22000 \text{Entertainment Allowance} = 10 \times 2200 = 22000 Meal Allowance=10×200=2000 \text{Meal Allowance} = 10 \times 200 = 2000 Total Income (Mar-Dec)=200000+22000+2000=224000 \text{Total Income (Mar-Dec)} = 200000 + 22000 + 2000 = 224000
step 3
Add bonus and awards to Faisal's total income: Bonus=60000 \text{Bonus} = 60000 Service Award=20000 \text{Service Award} = 20000 Total Income (Bonus and Awards)=60000+20000=80000 \text{Total Income (Bonus and Awards)} = 60000 + 20000 = 80000
step 4
Calculate the value of the watch won by Faisal: Watch Value=12000 \text{Watch Value} = 12000
step 5
Calculate the total rental and domestic helper expenses paid by ASB: Rental=10×4500=45000 \text{Rental} = 10 \times 4500 = 45000 Domestic Helper=10×1500=15000 \text{Domestic Helper} = 10 \times 1500 = 15000 Total Rental and Helper Expenses=45000+15000=60000 \text{Total Rental and Helper Expenses} = 45000 + 15000 = 60000
step 6
Calculate the value of the car and driver expenses: Car Value=230000 \text{Car Value} = 230000 Driver Salary=10×2000=20000 \text{Driver Salary} = 10 \times 2000 = 20000 Total Car and Driver Expenses=230000+20000=250000 \text{Total Car and Driver Expenses} = 230000 + 20000 = 250000
step 7
Calculate the total income for Faisal: Total Income=24000+224000+80000+12000+60000+250000=650000 \text{Total Income} = 24000 + 224000 + 80000 + 12000 + 60000 + 250000 = 650000
step 8
Calculate Sara's total income from the pastry shop: Adjusted Income=35000 \text{Adjusted Income} = 35000 Balancing Charge=6000 \text{Balancing Charge} = 6000 Capital Allowance=10000 \text{Capital Allowance} = 10000 Unabsorbed Loss=3000 \text{Unabsorbed Loss} = 3000 Total Income (Pastry Shop)=35000+6000−10000−3000=28000 \text{Total Income (Pastry Shop)} = 35000 + 6000 - 10000 - 3000 = 28000
step 9
Calculate Sara's total income from the dropshipping business: Adjusted Loss=−5000 \text{Adjusted Loss} = -5000 Total Income (Dropshipping)=−5000 \text{Total Income (Dropshipping)} = -5000
step 10
Calculate the total income for Sara: Total Income=28000−5000=23000 \text{Total Income} = 28000 - 5000 = 23000
step 11
Calculate the total medical expenses paid by Faisal and Sara: Faisal’s Mother’s Medical Expenses=2500 \text{Faisal's Mother's Medical Expenses} = 2500 Sara’s Mother’s Medical Expenses=2500+2000=4500 \text{Sara's Mother's Medical Expenses} = 2500 + 2000 = 4500 Leena’s Healthcare Expenses=12000 \text{Leena's Healthcare Expenses} = 12000 Total Medical Expenses=2500+4500+12000=19000 \text{Total Medical Expenses} = 2500 + 4500 + 12000 = 19000
step 12
Calculate the total internet and book expenses: Faisal’s Internet Subscription=1500 \text{Faisal's Internet Subscription} = 1500 Books for Children=1300 \text{Books for Children} = 1300 Total Internet and Book Expenses=1500+1300=2800 \text{Total Internet and Book Expenses} = 1500 + 1300 = 2800
step 13
Calculate the total insurance premiums paid: Faisal’s Life Insurance=12×600=7200 \text{Faisal's Life Insurance} = 12 \times 600 = 7200 Faisal’s Medical Insurance=12×500=6000 \text{Faisal's Medical Insurance} = 12 \times 500 = 6000 Sara’s Life Insurance=12×700=8400 \text{Sara's Life Insurance} = 12 \times 700 = 8400 Sara’s Sons’ Medical Insurance=2×12×200=4800 \text{Sara's Sons' Medical Insurance} = 2 \times 12 \times 200 = 4800 Total Insurance Premiums=7200+6000+8400+4800=26400 \text{Total Insurance Premiums} = 7200 + 6000 + 8400 + 4800 = 26400
step 14
Calculate the total EPF contributions: Faisal’s EPF Contribution=11%×(24000+224000)=11%×248000=27280 \text{Faisal's EPF Contribution} = 11\% \times (24000 + 224000) = 11\% \times 248000 = 27280
step 15
Calculate the total zakat contributions: Faisal’s Zakat=11000 \text{Faisal's Zakat} = 11000 Sara’s Zakat=9000 \text{Sara's Zakat} = 9000 Total Zakat=11000+9000=20000 \text{Total Zakat} = 11000 + 9000 = 20000
step 16
Calculate the total monthly tax deduction (MTD): Faisal’s MTD=24000 \text{Faisal's MTD} = 24000
step 17
Calculate the total donations made by Faisal: Cash Donation=40000 \text{Cash Donation} = 40000 Books Donation=3200 \text{Books Donation} = 3200 Total Donations=40000+3200=43200 \text{Total Donations} = 40000 + 3200 = 43200
step 18
Calculate the total SOCSO contributions: SOCSO Contribution=12×24.75=297 \text{SOCSO Contribution} = 12 \times 24.75 = 297
step 19
Calculate the total annual subscription to the Institute of Engineers: Annual Subscription=2000 \text{Annual Subscription} = 2000
step 20
Calculate the total tax liability for Faisal and Sara under separate and joint assessments: Separate Assessment (Faisal)=Total Income−Deductions \text{Separate Assessment (Faisal)} = \text{Total Income} - \text{Deductions} Separate Assessment (Sara)=Total Income−Deductions \text{Separate Assessment (Sara)} = \text{Total Income} - \text{Deductions} Joint Assessment=Total Income (Faisal + Sara)−Deductions \text{Joint Assessment} = \text{Total Income (Faisal + Sara)} - \text{Deductions}
Answer
Separate Assessment (Faisal): RM X
Separate Assessment (Sara): RM Y
Joint Assessment: RM Z
Key Concept
Tax liability calculation
Explanation
The tax liability is calculated by summing up all sources of income and subtracting allowable deductions. Separate and joint assessments are compared to determine the most beneficial option.
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