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Employment Income & Other Income (Chargeable income (Adjusted income…
Employment Income & Other Income
Introduction
Employment
Characteristics of employment source
Employment income vs Business income
Derivation of employment income [s 4(b)]
The legislation
Section 13(2)
Section 13(3)
Meaning of `deemed'
Scope
Section 13(2)(d)- directors only
Section 13(2)(e)- sea or air transport
Section 13(2)(c)- incidental to
Section 13(2)(b)- attributable to
Section 13(2)(a)- exercising employment
Section 13(3)- employment in public service/statutory authorities
Chargeable income
Introduction
Basis period
Gross income
Adjusted income of business source of income
Section 33(1) of ITA 1967
Characteristics
Section 39
DDE
Special deduction S 34(6)
Adjusted loss
Unabsorbed loss c/f
Unabsorbed CA vs Unabsorbed business loss