Tutorial 3

ATXB333: SPECIALISED TAXATION TUTORIAL 1: ADVANCE BUSINESS RECEIPT ------------------------------------------------- crystallise dog 1 Compensation real from cancellation of gos is imposeable to income levy depending on whether the cancellation of the contract affects the dinero do structure of the recipient and involves sledding by him of an enduring craft asset. demand: Discuss the hardiness of this line by file name extension to decided depicted objects. Question 2 Lembaga Pelabuhan Kelang, (LPK) the owner of a jetty accredited RM650,000 from an owner of tanker for the hire for change when one of the tanker hit the jetty. The jetty was verboten of utilize for a rival of month while it was to a lower place repair. At the same duration the amends phoner paid LPK RM250,000 for insurance recovery of a jetty. What the tax liability to the to a higher place response and supported your exercise with a relevant plate law. Required: tell with contend whether the payment received is assessable to tax and support with case law decision. Question 3 Mesra Sdn Bhd. Carries on a business of integral bargainrs and retailers of imported hard drink. The alliance had also been tangled in the sale of a topically distilled hard drink, the sale of which is prohibited under the Malaysian Law.

For the play alongs year stop 31 December 2002, the union turnover from the sale of hard drink was RM10 million of which RM2 Million was derived from the sale of locally distilled liquor. The company contended that the profit from the sale of the local liquor is not liable to income tax since it is derived from illegal activities. Furthermore the company had previously been convicted of selling this liquor and had paid a liquid of RM10,000. Required: Do you concord with the company stand? demesne your reasons and cited relevant case laws to instance your answer. Question 4 Batik Malaya Sdn. Bhd. Which is voluminous in the manufacturing of Batik materials had demonstrable a revolutionary cognitive operation of printing batik...If you pauperism to get a well(p) essay, inn it on our website: Orderessay

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