Format Employment Income YA 2020 PDF

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Summary

NAME OF THE TAX PAYERCOMPUTATION OF THE EMPLOYEMENT INCOME FOR THE YEAR OF ASSESSMENT 2020SEC 13(1)(a) RM RM Salary (Gross salary) [Regross = (Net monthly salary + all deductions) x 100/89 x No of months] xx Bonus [Taxable in the year of receipt] xx Leave pay (Based on monthly gross salary) xx Allow...

Description

NAME OF THE TAX PAYER COMPUTATION OF THE EMPLOYEMENT INCOME FOR THE YEAR OF ASSESSMENT 2020 SEC 13(1)(a) Salary (Gross salary) [Regross = (Net monthly salary + all deductions) x 100/89 x No of months] Bonus [Taxable in the year of receipt] Leave pay (Based on monthly gross salary) Allowances, fees, Commission received Travelling Allowance (Exemption - RM6,000)

RM xx xx xx xx xx

RM

- Non Service Director of controlled company is not entitled to this exemption

Gratuity (Fully exemption OR Partial exemption – RM1,000 for each completed year of service) Share Option [(MV - OP) x No of Shares] Share Incentives Loan interest (Internal fund) – Not taxable Loan interest (External fund, Interest subsidy & Waiver of loan/advance) Insurance premium (If the beneficiaries are family members) Proffesional Subscription paid by employer (Not directly contributed to the company) Individual Recreational Club (Entrance fees & Annual Fees) Excellent Services (Exemption - RM2,000)

xx xx xx NIL xx xx xx xx xx

-Non Service Director of controlled company is not entitled to this exemption

Excellent Public Service Award Pecuniary Expenses (Income Tax, Utilities paid by employer under the name of employees) Credit Card (Private and Official – annual membership fees & amount private purchase) Scholarship (exempted) Reimbursement - Actual amount Gift voucher Meal allowance (exempted) – NSD is not entitled to this exemption Parking allowance (exempted) – NSD is not entitled to this exemption Child care allowance (Exemption – RM2,400) – NSD is not entitled to this exemption

xx xx xx NIL xx xx NIL NIL xx A

SEC 13(1)(b) Car benefit [Refer table, Age > 5 years - 50%, < 1 yr - Apportioned Accordingly] Fuel / Petrol [Refer Table - < 1 year - Apportioned Accordingly] Driver (RM600/month) - If provided by employer Servant (RM400 /month) Guard (RM400 / month) Gardener (RM300 / Month) Utilities (under the name of employer) Leave Passage [Exemption - 1 outside M'sia (RM3,000 - Air Fares) & 3 within M'sia] - NSD is not entitled to this exemption Corporate membership (Monthly & Annual Fees ONLY, entrance fee - NIL) Medical and dental treatment (exempted for taxpayer ONLY) - NSD is not entitled to this exemption Child care benefits to taxpayer’s children (exempted) - NSD is not entitled to this exemption Goods given to employee at FOC or at discounted price – discount amount less than RM1,000 (exempted) – NSD is not entitled to this exemption Employer’s own service given to employee – such benefits not transferable (exempted) - NSD is not entitled to this exemption

xx xx xx xx xx xx xx xx xx NIL NIL NIL NIL B

SEC 13(1)(c) House, Apartment, Bungalow, etc - Service Director / Employee TLO : DV or 30% x Sec 13 (1) (a) – Share option (if any) - Non service Director of Controlled company FULL DV = Rental Value x No of months stayed

xx xx

Hotel / Hostel - Service Director / Employee 3% x Sec 13 (1) (a) - share option (if any) - Non service Director of Controlled company FULL DV (Rate per day x No of days stay)

xx xx C

SEC 13(1)(d) Withdrawal from unapproved fund - Employer's Contribution -Employee’s Contribution - Interest/dividend earned by the employee (NOT TAXABLE)

xx NIL NIL D

SEC 13(1)(e) Compensation for loss of employment -Exemption - NSD is not entitled to this exemption (RM20,000 for each completed year of service)

xx (xx) E

GROSS EMPLOYMENT INCOME (A + B+ C + D + E) Less : Allowable Expenses Subscription fees paid to proffessional bodies (MICPA, ACCA) Living accomodation expenses [Rent paid to employer, repairs and maintenance, insurance premium] Entertainment Expenses [Restricted to total amount of EA in S 13(1)(a)] Travelling expenses [Less exemption in Sec 13(1)(a)] STATUTORY EMPLOYMENT INCOME AGGREGATE EMPLOYMENT INCOME (2 Employment Income ONLY)[H1 + H2]

F (xx) (xx) (xx) (xx) G H I

NOTES: - If there is more than 1 source of employment, each of the employment sources must be calculated. - Then, sum up the STATUTORY EMPLOYMENT INCOME in order to get AGGREGATE EMPLOYMENT INCOME. - If the position held during the basis period are different but under the same employer, therefore employment income should be calculated as one computation ONLY BUT seggregate the types of income received [S 13 (1)(a) to S 13(1)(e)]...