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OTHER INCOME - Coggle Diagram
OTHER INCOME
Section 4(d)
Rents
sum paid for the use
Section 4(a)
Rental income that involve ancillary or support services
Section 4(d)
Immovable properties in Malaysia
Moveable properties
deemed a business source
Section 27(1) - receipt basis treated as gross income
Section 27(3) - Advance rental income, notwithstanding that it may be subject to refund
Royalties
Premiums
payment made
by lessee
Section 4(e)
Pensions
Payment by Government
Annuities
money paid on a regular basis
taxed under S. 4(c) to (f)
Section 4(c)
Dividends
holding stocks represent a part of the company’s profit
dividend payments under single-tier
system not subject to tax
Unit Trusts
residents - Tax 0 - 28 %
Non-resident - Tax 28%
Corporate - Tax 24%
Interest
a sum of money belonging to or
owed to another - Compensation
Can also consider S 4(a)
From trading debts
From ordinary course of business
From bank or Insurance
From investment - Fixed deposit return
Pan Century Edible Oils vs DGIR - S 4(a) because it still a trade
Section 27(1) - received with receipt demand
Section 27(2)(a) - overlaps two or more basis period, spread back evenly to the prior years
Section 27(2)(b) - can only raise assessment or additional assessment within 5 years
Section 27(2)(c) - wholly elapsed more than 4
years, treated as gross income which began 4
years before the beginning of the YA
Section 27(3) - received advanced, treated as gross
income of the period in which it is received
Discounts
deduction made
Section 4(f)
Other Gains or Profits
ejusdem generis
general class