Dtc Road Show

Eco-Land Sdn Bhd acquired a shop lot for investment and letting purposes.   Under which of the following scenarios will the rental income be assessed as a business source of income?

• Eco-Land Sdn Bhd owns another three properties which it also lets out

• Eco-Land Sdn Bhd owns only commercial properties

• Eco-Land Sdn Bhd actively advertises the space for rental

• Eco-land Sdn Bhd actively provides comprehensive maintenance or support/ancillary services

TSG Sdn Bhd made the following payments on 10 January 2017:   1) Interest of RM10,000 to its parent company in Canada 2) Royalty of RM20,000 to an overseas franchise holder 3) Purchase of equipment for RM30,000 from a supplier in Canada 4) Rental of crane for RM40,000 from a local supplier in Malaysia Which of the following payment is subjected to withholding tax?

• 1 and 2

• 2 and 4

• 1, 2 and 4

• All of the above

Nik exercised employment in Malaysia.    He received interest income on 1 March 2017 from fixed deposits which were placed with a local bank. Nik also received dividends from a company listed on the Hong Kong Stock Exchange and insurance proceeds from an endowment policy.  In relation to Nik’s liability to Malaysian income tax, which of the following statements is/are correct?   (1) The employment income is subject to income tax (2) The interest income derived from fixed deposits with a local bank is subject to income tax (3) The dividend income received from the Hong Kong listed company is tax exempt (4) The insurance proceeds received from the endowment policy are tax exempt  

• 1 and 2 only

• 3 only

• 1, 3 and 4 only

• 1, 2, 3 and 4

LMN Sdn Bhd (LMN) is a company with a financial year end of 30 September. LMN submitted its tax estimate for the year of assessment 2016 by the due date but would now like to revise the estimate. During which months may LMN Sdn Bhd revise its tax estimate for the year of assessment 2016? 

• October 2015 to March 2016 inclusive

• December 2015 and/or March 2016

• March 2016 and/or June 2016

• June 2016 and/or September 2016

Which of the following fall within the meaning of ‘land’ for the purposes of the Real Property Gains Tax Act 1976?  (1) Buildings and anything attached to land  (2) Earth below the surface and the substances therein  (3) The substances forming the surface of the earth  (4) Standing timber, trees and crops growing on land 

• 1 only

• 2 and 3 only

• 1, 2 and 3

• All of the above

Which of the following factor(s) supports the view that there is a contract of service (i.e. an employment relationship exists) and not a contract for services?   (1) Employees’ provident fund (EPF) deductions are made from the payments made to the individual  (2) The individual is expected to use their own laptop and stationery in performing the work  (3) The individual has to work from 9 am to 5 pm every working day  (4) The individual does not have the flexibility to contract another person to perform the work 

• 1 only

• 1 and 3 only

• 2, 3 and 4 

• 1, 3 and 4

We will have some important visitors here tomorrow for the proposal meeting. _________________________.

• I'd appreciate it if you can dress professionally

• I'd appreciate it if you could dress professionally

• I'll appreciate it if you could dress professionally

• I'll appreciate it if you can dress professionally

Fajar Sdn Bhd, a manufacturing company with an issued share capital of RM20 million, owned an acre of land which it acquired for RM1,000,000 in 2014. The government compulsorily acquired the land and paid Fajar Sdn Bhd compensation of RM1,200,000 under a sale and purchase agreement.   What is the real property gains tax (RPGT) implication of the above transaction for Fajar Sdn Bhd?

• Fajar Sdn Bhd will not be subject to RPGT nor be required to submit a RPGT return to the Inland Revenue Board (IRB) as the compulsory acquisition by the government will be treated as a no-gain no-loss transaction

• Fajar Sdn Bhd will be subject to RPGT and must submit a RPGT return to the IRB within 30 days from the date of signing the sale and purchase agreement

• Fajar Sdn Bhd will be subject to RPGT and must submit a RPGT return to the IRB within 60 days from the date of signing the sale and purchase agreement

• Fajar Sdn Bhd will not be subject to RPGT as the compulsory acquisition by the government will be treated as a no-gain no-loss transaction but it must still submit a RPGT return to the IRB  

Which income from employment is not exempted?

• Employment as a cook in January to April 2018 on board a Malaysian ship owned by ABC Sdn Bhd

• Employment as a cook in May to June 2018 on board a foreign ship leased by ABC Sdn Bhd

• Employment as a cook in May to June 2018 on board a foreign ship leased by ABC Sdn Bhd

• None of the above

We hope to see you in the Grand Finals!