Please enable JavaScript.
Coggle requires JavaScript to display documents.
Int inc, Loan to director, Dividend, service
advance in taxable in…
Int inc
taxed as s4(c)
- :red_cross:claim CA
- exp>inc, :red_cross:CYBL
- ie. int fr late payment of trade debt
taxed as s4(a)
- :check:claim CA
- exp>inc, CYBL
- ie. int derived fr mortgage / debt which is stk in trade
- ie. inti fr licensed money lending bs
Basis of taxation
- s27(1)
- taxable in YA of receivable
- s27(2)(a)
- taxable when int receivable in respect of a period (overlapping period)
- apportioned on time basis
Loan to director
-
by dormant co
made loan, deemed commencement of bs
- s140B, int deemed to recv
- s4(c)
-
Dividend
Distribution
- by unit trust
- taxable
- claim s110 tax credit
- by REIT
- taxable / exempt
- Para 12 Sch 6
-
-
-
-
- service
- advance in taxable in YA of receipt
- goods
- accrual basis
- taxable in YA of receivable
-
director also em'ee of co
- for em'er: s140B not applicable
- for em'ee: taxable as s13(1)(a)
:red_flag:s140B formula
1/12 x A x B
or
int charged by co to directors
whichever is higher
A =b/f loan + new loan - payment
B = ALR p.a.