Please enable JavaScript.

Coggle requires JavaScript to display documents.

Business Expense (Specific Deduction (Sec 34.6 (Must satisfy "wholly…

- - - - Utilities
      - Salary of care giver
      - Supplies for child care center
      - Maintenance of chid care center
    - - Capital expenditure
  - - - Library facility accessible to the public
      - Contribution to the public libraries (including schools and higher learning)
      - NOTE
        
        The donation can be in cash or in kind but for in kind LIMITED to the provision of library facilities to public
        
        For donation in cash restricted s.44(8) to 20K
  - - - To obtrain accreditation issued by the Department of standards Malaysia
      - Recognised quality systems and standard AND Halal Certificate
- - - - Allowed in the year it incurred and not in year penalty paid
  - - - Provision of food, recreation or hospitality of any kind OR
      - Accommodation or travel in connection with OR for the purpose of facilitating entertainment
    - - Provided to employees
      - Entertainment business
      - Promotional gift at foreign trade fairs.
        
        50% if no company logo
        
        100% if there's company logo
      - Sample of company's product.
      - Cultural/sporting event that are open to public to promote the business
      - It relates wholly to sales provided to customer, dealer and distributor (EXCLUDE SUPPLIER)
  - - - Facilitate yearly event involving the employee (+ immediate family members)
      - Cost of meal and accommodation
    - - Fare cost
      - provided by the Eyer to Eyee
  - - - The input tax.
        
        EXCEPTION
        
        GST on exempt supply
        
        Excess on RM 30 claim of input tax in the case of using simplified tax
        
        Block input tax
- - - - Resident Company
      - Student of higher Eductation
      - Executed: 8.10.11-31.12.16
      - STUDENT
        
        Malaysian Resident
        
        Doing bachelor/diploma (FULL TIME)
        
        No means on his home
        
        Parents income less than 5K
        
        The incentive is mutually exclusive
  - - - Monthly training allowance of RM 1K or more paid to the trainees for a maximum of 12 months.
      - Training Expense
      - Food, travelling and accommodation expense
      - Fees to instructor for soft skill training
      - NOTE: The total amount for the last 3 points must not exceed RM 5K per unemployed graduate with the maximum 12 continuous month.
    - - Malaysian Citizen
      - Register with Jobs Malaysia under the Ministry of HR
      - Have a bachelor from local or foreign institution
      - Unemployed at least 6 months after graduation
      - Takes effect 1.6.12
  - - - Place of Work
      - Scheduling of work hours
      - Number of hours work
- - - - Cost of preparing an printing MOA
      - Registering the company
      - Drawing up preliminary contract
      - Printing any share certificate
      - Seal of company
- - - - Recruitment Cost
      - Training cost of Eyee
    - - EXCLUDE: SSM filling fees and administrative chargers like printing and postage
- - - - 19% of employee remuneration
      - total contribution
- - - - Payment of monthly broadband, fixed line telephone, mobile phone issued in name of Eyee or Eyer
      - Personal digital allowance, telephone or mobile assistant
    - - May acquire or repurchase its own share from the open market and transfer to its employee under the Employee Share Option Scheme. The company is given a deduction for the cost of acquiring the share LESS the amount payable to the Eyee