TAX 467: A Case Study of Humaira and Ahmad Zaidi, Group Project
Assignment Type
Group Project
Subject
Taxation II (TAX 467)
Uploaded by Malaysia Assignment Help
Date
01/10/2025
Question
Humaira is the sole owner of Humaira Beauty Enterprise in Sungai Rambai, Melaka. The following is the Statement of Profit or Loss for the year ended 31 December 2024:
| Notes | RM | RM |
|---|---|---|
| Sales | 766,000 | |
| Less: Cost of sales | (280,000) | |
| Gross Profit | 486,000 | |
| Add: Other income | 21,000 | |
| Total | 507,000 | |
| Less: Operating expenses: | ||
| Bad debts | 5,200 | |
| Donations and contributions | 37,400 | |
| Entertainment | 10,000 | |
| Fees | 5,600 | |
| Miscellaneous | 17,600 | |
| Remunerations | 164,000 | |
| Rent expenses | 36,000 | |
| Repair and maintenance | 11,200 | (287,000) |
| Net profit | 220,000 | |
Notes:
1. Cost of sales:
During the year, Humaira has taken out a washing machine worth RM2,400 for her personal use and the transaction has not been recorded. The market price of the washing machine was RM2,700.
2. Other income comprises of:
| Description | RM |
|---|---|
| Bad debt recovered from a bankrupt debtor which was previously allowed for tax deduction | 2,600 |
| Insurance claimed on stock damaged in an accident | 5,200 |
| Rent received | 13,200 |
3. Bad debts comprise:
| Description | RM |
|---|---|
| Debt from a customer who has died in a car accident | 1,500 |
| Loan to a friend which cannot be collected | 3,000 |
| General provision for doubtful debts | 700 |
4. Donations and contributions comprise:
| Description | RM |
|---|---|
| Donation of cash to public libraries [s 34(6)(g)] | 20,000 |
| Donation of two units of television to Rumah Orang Tua Cheng (approved institution) | 5,400 |
| Business zakat | 12,000 |
5. Entertainment comprises:
| Description | RM |
|---|---|
| Annual dinner for employees | 4,200 |
| Discount given to customers | 1,900 |
| Humaira’s family gathering | 3,900 |
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6. Fees comprise:
| Description | RM |
|---|---|
| Accounting fees | 840 |
| Annual membership fees to Malacca Trade Association | 2,410 |
| Renewal of business license fees | 1,270 |
| Tuition fees for Humaira’s daughter | 1,080 |
7. Miscellaneous expenses comprise:
| Description | RM |
|---|---|
| Depreciation of non-current assets | 9,800 |
| Premium on fire insurance for the shop | 7,800 |
8. Remunerations comprise:
| Description | RM |
|---|---|
| Salaries and bonuses paid to the owner | 55,000 |
| Salaries and bonuses paid to employees (including RM28,000 paid to senior citizen who is 62 years old and hired on a full-time basis since 1 January 2024) | 92,000 |
| Contribution to Employees Provident Fund (EPF) for the owner | 6,050 |
| Contribution to EPF for the employees | 10,950 |
9. Rent expenses:
The rent is in respect of a rental payment of a shop-lot cum office for 1,500 square feet. Out of 1,500 square feet, 500 square feet are sublet to another business.
10. Repair and maintenance comprise:
| Description | RM |
|---|---|
| Cost of extending the store room | 6,000 |
| Motor vehicles expenses (2/5 of the total cost is for Humaira’s personal car) | 4,400 |
| Repair of broken business’s shop glass windows | 800 |
Additional information: The capital allowances for the year of assessment 2024 were RM11,300.
The following details relate to Humaira’s other income:
-
-
- Dividend income: RM12,500 from Lembaga Tabung Haji.
- Interest income: RM1,800 on savings with Bank Islam Malaysia Berhad.
- Rental income and expenditure for a year for an apartment at Bukit Beruang:
Description RM Monthly rental 1,200 Cost of installation CCTV 1,000 Annual quit rent and assessment 700 Repairs and maintenance 1,800
-
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Ahmad Zaidi’s Incomes and Benefits:
-
-
- Monthly net salary: RM8,345 after deducting EPF (11%), RM800 under STD system, and monthly zakat payment RM200.
- Bonus: Equivalent to one month salary, received on 31 October 2024.
- Entertainment allowance: RM2,000 per month.
- Travelling allowance: RM800 per month for official duties.
- Childcare allowance: RM200 per month.
- A car with cost price RM140,000 and a driver provided since July 2023.
- In the year 2024, he incurred RM9,600 on travelling expenses while performing his official duties..
-
Besides employment income, Ahmad Zaidi also derived the following income for the year of assessment 2024:
-
-
- Interest income of RM3,000 received from saving in fixed deposit at Public Bank Berhad.
- He received RM22,000 as royalty on publication of a book on financial literacy.
- He also received a rental income from his terrace house in Alor Gajah. Below w is the
information relating to the house which was rented out starting on 1 October 2024;Description RM Monthly rent 1,200 2-months refundable deposit (received on 1 October 2024) 2,400 Fire insurance (per annum) 1,000 Annual quit rent and assessment 600
-
Details of Humaira and Ahmad Zaidi’s Children:
-
-
- Ammar – 21, married and studying Diploma in Entrepreneurship at Kolej Profesional MARA Melaka.
- Sumaiyah – 19 years old and studying Diploma in Al-Quran and As-Sunnah at Kolej Al-Quran Saidina Ali, Melaka.
- Nukman – 15 years old and studying at SMK Paya Rumput, Melaka.
- Maryam – 11 years old, adopted and disabled, studying at Sekolah Pendidikan Khas Cheng, Melaka.
- Ainul – 6 years old, attending Little Caliph Kindergarten, Melaka.
-
Note: Humaira elected to claim child reliefs on Maryam while Ahmad Zaidi claims the rest.
Expenses Incurred for the Year Assessment 2024:
| Expense | Humaira (RM) | Ahmad Zaidi (RM) |
|---|---|---|
| Medical and education insurance (Nukman) | 3,600 | – |
| Medical and education insurance (Maryam) | 3,600 | – |
| Medical and education insurance (Ainul) | 2,500 | – |
| Parental care and medical expenses for Humaira’s mother | 7,000 | – |
| Purchase of special bed for Humaira’s mother | 2,800 | – |
| Life insurance premium (self) | 3,200 | 2,700 |
| Complete medical examination for Maryam | 1,500 | – |
| Net deposit in SSPN for children | 9,000 | – |
| Wi-Fi subscription at home | 1,500 | – |
| Medical treatment for Maryam | 4,100 | – |
| Educational fees for pursuing CIMA studies | – | 6,300 |
| SOCSO | – | 600 |
| Purchase of sport equipment | – | 800 |
| Childcare fees (Little Caliph Kindergarten) | 5,500 | – |
| Electric vehicle charging facility | 1,800 | – |
Contributions:
| Contribution | Humaira (RM) | Ahmad Zaidi (RM) |
|---|---|---|
| Zakat (personal) | 3,000 | 9,000 |
| Majlis Bandaraya Melaka Bersejarah | 6,200 | – |
| Rumah Anak Yatim Permai (approved) |
The following are personal information and background details of both Humaira and her husband Ahmad Zaidi:
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Personal Information
| Details | Humaira | Ahmad Zaidi |
|---|---|---|
| Full name | Humaira binti Zainuddin | Ahmad Zaidi bin Salleh |
| I/C no. | 781013-03-5378 | 760512-04-2339 |
| Tax Reference no. | SG 011358477877 | OG 011358477876 |
| H/p no. | 011-2347584 | 012-3578989 |
| Bank account no. | Maybank Berhad 0123456789103 |
CIMB 012457323331 |
| Email address | Ira78@gmail.com | Azaidi76@gmail.com |
| Name of business | Humaira Beauty Enterprise | – |
| Type of business | Cosmetic and beauty products | – |
| Business premise | No.18 Bandar Baru Sg. Rambai, 77400 Sg. Rambai, Melaka |
– |
| Premise email | irabeauty@gmail.com | – |
| Employer name | – | SmartPocket Sdn Bhd |
| Position | – | Financial Consultant |
| Employer ref. no. | – | E 7458912673 |
Required:
Part A: Computation of Personal Tax Liability
Prepare the following computation:
a. Statutory Business Income of Humaira Beauty Enterprise for the year assessment 2024;
(10 marks)
b. Total income of Humaira and Ahmad Zaidi for the year of assessment 2024 and;
(10 marks)
c. Income tax payable / tax refund in respect of Humaira and Ahmad Zaidi under separate assessment for the year of assessment 2024.
(10 marks)
Part B: Filing in Tax Return
Complete the 2024 Form e-B and e-BE in respect of Humaira and Ahmad Zaidi.
(20 marks)
(Total: 50 marks)
Answer
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