Over the years, the courts in Malaysia have laid down various guidelines or tests to distinguish gains arising: INTRODUCTION TO TAXATION Assignment, Malaysia

University Sunway University (SU)
Subject INTRODUCTION TO TAXATION Assignment

QUESTION 1

  1. Over the years, the courts in Malaysia have laid down various guidelines or tests to distinguish gains arising from the disposal of investment and gains from trade or an adventure or concern in the nature of trade. The acid test is the ‘badge of trade’. There are ten badges of trade, and it is the total effect of all relevant factors and circumstances to determine the substance of the transaction.

The tax authorities are known to use the ‘badges of trade’ to argue that a taxpayer did engage in an ‘adventure in the nature of trade’. Thus, any profit will be assessable as business income. On the other hand, the taxpayer relying on the same ‘badges of trade’ argues that he is merely realizing a long-term investment, which is capital in nature. Any gains would be capital receipts. The badge of trade is the same, but the perspective of each party is entirely different. It rests with the learned Superintendent or Commissioner and judges of the court to decide on the issues in dispute.

REQUIRED:

Explain ANY FIVE (5) badges of trade in Malaysia with relevant case law to be quoted.

(50 marks)

 

  1. Section 4 of the Act categories various classes of income on which tax is chargeable. Gains or profits from employment and charged under Section 4(b) of the Act Under Section 4(b), the Act further explained Section 13(1) of the Act which categorizes various types of employment income.  The tax treatment for each of the above sections varies and this would affect the tax payable of the employee

REQUIRED:

Discuss in detail the content of Section 13(1)(a) & Section 13(1)(b) of Income Tax Act 1967 for Malaysia tax purpose.  Your discussion should include a detailed explanation, relevant diagram, or relevant mind map of both sections.

Stuck in Completing this Assignment and feeling stressed ? Take our Private Writing Services.

Get Help By Expert

Empower your academic journey with our adept assignment helper and dedicated Coursework Writing Help tailored for Malaysian students grappling with INTRODUCTION TO TAXATION. Exploring the guidelines and tests set by Malaysian courts distinguishing gains, our expert team delivers comprehensive support.Students can access tailored guidance by paying for expert assistance, ensuring excellence in their INTRODUCTION TO TAXATION Assignment. Elevate your coursework effortlessly with our specialized expertise and support.

Answer

Recent Solved Questions

Online Exam & Assignment Writing Services

11770+ Orders Delivered

4.9/5
5 Star Rating

Confidential & Secure Assignment Help For

Group Assignment Help

Online Exam -Test & Quiz

Cheapest Price Quote

Diploma & Certificate Levels

Semester & FYP Papers

Summative & Individual

GBA & Reflective

Last Minute Assistance

Sample Assignment Download

Master Of Science (Informatics) UTM Assignment Sample Malaysia
Master of Science (Informatics) is an applied information technology degree. The program provides students with strong theoretical foundations for understanding, designing, implementing, and managing complex computer-based systems in a variety…
Computer Science
BSR360 Practical Training UITM Assignment Sample Malaysia
BSR360 Practical Training course is an in-depth program designed to provide you with an understanding of the fundamental principles and practices of safe vehicle operation. This hands-on learning experience incorporates…
Business

UP TO 15 % DISCOUNT

Instant Paper Writing Services by Native Malaysia Writers

Plagiarism Free Solutions
100% Original Work
24*7 Online Assistance
Native PhD Experts
Hire a Writer Now

Get Assistance for Assignments, online Exam, and Projects Writing