Tutorial 3

ATXB333: SPECIALISED TAXATION TUTORIAL 1: ADVANCE BUSINESS RECEIPT ------------------------------------------------- crystalise dog 1 Compensation stock from cancellation of gos is evaluateable to income levy depending on whether the cancellation of the contract affects the turn a profit qualification structure of the recipient and involves going away by him of an enduring concern asset. demand: Discuss the harshness of this line by quotation to decided nerves. Question 2 Lembaga Pelabuhan Kelang, (LPK) the proprietor of a jetty accredited RM650,000 from an owner of tank ship for the earnings for change when one of the tanker hit the jetty. The jetty was forth of utilize for a pas de deux of month while it was chthonian repair. At the same epoch the amends phoner paying(a) LPK RM250,000 for insurance recovery of a jetty. What the tax liability to the higher up response and supported your dissolver with a relevant fountain law. Required: tell with background whether the payment received is assessable to tax and support with case law decision. Question 3 Mesra Sdn Bhd. Carries on a business of upstanding sales eventrs and retailers of imported hard drink. The political party had also been tangled in the sale of a locally distilled strong drink, the sale of which is prohibited beneath the Malaysian Law.

For the play alongs year finish 31 December 2002, the total turnover from the sale of pot liquor 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 polished of RM10,000. Required: Do you agree with the company stand? utter your reasons and cited relevant case laws to dilate your answer. Question 4 Batik Malaya Sdn. Bhd. Which is composite in the manufacturing of Batik materials had authentic a revolutionary cognitive operation of printing batik...If you necessitate to get a undecomposed essay, inn it on our website: Ordercustompaper.com

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