Reference no: EM132727863
Miss Azizah Nasir was a manager in accounting department of Puncak Niaga Sdn Bhd since 1 February 2012. Effective from 1 May 2016, she took one month paid leave and opted for early retirement on 1 June 2016. She received gratuity of RM 16,500 for services rendered.
Details of her remuneration and benefits received from Puncak Niaga Sdn Bhd in 2016 were as follows:
a. Salary of RM 7,950 per month after EPF deduction of 11%, hire purchase loan amounting of RM 800 and scheduler with the company.
b. She received a gift voucher during Hari Raya Aidilfitri festival amounting to Rm 1,000 based on her length of service with the company.
c. She received a set of jewellery costing RM 5,000 for excellent service in year 2016.
d. She was provided with unfurnished house with a defined value of Rm 18,000 per annum until 31 March 2016. She was required to pay RM 400 per month as a rental to the company.
e. The company paid RM 10,000 for medical treatment for her mother.
f. The company paid a monthly subscription fo Rm 300 for corporate membership in a recreational club. Miss Azizah entitle to the club facilities until 31 May 2016.
On 5 June 2016, she started working as the Managing Director of Sentosa Sdn Bhd and owned 30% of the share capital of the company. In 2016, she received the following remunerations and benefits:
a. Director fees per month of RM 15,000
b. Travelling allowance of Rm 1,000 per month
c. On 1 July 2016, the company provided her with a new BMW costing RM 450,000 together with a driver. The company paid the driver Rm 2,200 per month.
d. In September 2016, the company sent her to London to attend a seminar related to her work. The fees incurred was Rm 12,000 which was paid by her but later reimbursed by the company.
e. In June and July 2016, she was provided with an accommodation in a hotel. The total hotel bills for the two months were RM 14,000 and it was borne by Sentosa Sdn Bhd.
f. In August 2016, she was provided with a fully furnished bungalow with a defined value of RM 4,000 per month (including monthly rental of furniture of RM 400). Starting from 1 September 2016, she hired a maid whose salary is RM 800. At the end of each month, Sentosa Sdn Bhd reimbursed the maid's salary.
g. She withdrew RM 70,000 from unapproved fund of which 40% represents the employee's contribution.
Required:
Problem 1: Compute the statutory employment income of Mis Azizah for the year of assessment 2016.