T10 Grp Relief Single Tier Sd
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TUTORIAL 10 : Corporate Tax System Question 1 A Comparison between the Imputation System and the Single Tier Corporate Tax System 1. What is the Mal aysia’s imputatio n tax s ystem a bout– how d oes it w ork? 2. What is the Single Tier C orporat e syst em ab out- h ow d oes it work? 3. When will t he Malaysian compa ny c hange to be on the S ingle tier s ystem? Question2 On 31 st December 2008, Excel Sdn Bhd has a credit balance of RM 250,000 in the section 108 account. On 30.3.2009, Excel declared and paid dividends in respect of ordinary shares amounting to RM 300,000. On 15.4.2009, Excel declared dividends in specie of RM 100,000. Excel received the following dividends during the year 2009: 1. RM20, 00 0 net d ivid end s fro m Ze pa Sd n Bhd 2. RM 1 0,00 0 from CRS B hd ,a c ompan y inco rporated in 1. 1.200 8 3. RM 1 5,000 fro m a La bua n Off sho re Co mpa ny. Required: 1. Wha t is the ba lance of sectio n 108 a s at 31.12.200 9? 2. Advis e Exce l on the taxabilit y of the dividen ds rece ived by Excel S dn Bh d. Question 3. Group Relief Losses 1. Who qualifies for Group Rel ief L oss es? 2. Wha t ite ms & how muc h can be t rans ferre d? Question 4 Gamma Bhd ( Gamma) is a holding company which owns 70% of the paid up capital of Beta Sdn Bhd (Beta). The details of both companies at financial year end 31 st December, 2007 are as follows:- 1
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