Full personal income tax computation PDF

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Summary

Computation of Personal Taxation RM S4(a) Business income Sole prio NPBT (-) investment income (+) non allowable expenses Adjusted income (+/-) BC/CA/BA/CA b/f Statutory income xx (-) business loss Total incomePartnership Divisible income (+) Partner's private expenses Adjusted income (+/-) BC/CA/BA...

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Computation of Personal Taxation RM S4(a) Business income Sole prio NPBT (-) investment income (+) non allowable expenses Adjusted income (+/-) BC/CA/BA/CA b/f Statutory income (-) business loss Total income Partnership Divisible income (+) Partner's private expenses Adjusted income (+/-) BC/CA/BA/CA b/f Statutory income (-) Donation Total income S4(b) Employment income S13 (1)(a) S13 (1)(b) S13 (1)(c) S13 (1)(d) S13 (1)(e) Gross Employment Income less: Allowable expenses Adjusted Employment Income S4(c) Dividend, Interest and Discount S4(d) Rental, Royalty and Premium S4(e) Pension, Annuity and other periodical payment S4(f) Other Income Aggregate income (-) Approved donation (restricted to 7% of Aggregate Income for cash donation to Approved Institutions) TOTAL INCOME Deduct: Reliefs CHAREGABLE INCOME Income tax liability First RM

xx

xx

Next RM (-) Rebate Tax payable

RPGT If it said includes then no need add edy (acquisition) If said exclude this amount then no need minus (disposal) USE THE RATE IN APPENDIX INVESTMENT INCENTIVES NOT IN COMPANY TAX SEE MIDTERM

RM

ONLY UNTIL STATUTORY INCOME WHEN DO PERSONAL TAXES BECAUSE IT"S INCLUDE IN APPROVED DONATION BELOW

Interest for company in anyway is taxable. For individual, received from financial institution, not taxable, Others is taxable.

INCLUDE THE DONATION FROM SOLE PROPRIETORSHIP, PARTNERSHIP CASH DONATION, 7% of Aggregate income for individual, 10% of AI for company DONATION IN KIND IS FOR GOVERNMENT...