Derive his comprehensive income as per haig- simon

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1. For 2017, Ahmad's salary from his job as a bank officer was RM4,700 a month. He bought 5500 units of Axiata at RM3.90 in October, 2016. The share price has increased from RM3.80 to RM4.11 per unit during that year. He kept the shares throughout the year. He was given a housing benefit, a house provided by the employer with an estimated rental value of RM1,500 per month. He also enjoyed a health insurance worth RM400 per month. He bought an apartment in 2010 for RM300,000. During the year, 2017, it was unoccupied (he was still looking for renters). The market rental of the apartment was RM1200 per month. At the end of the year, the market value of the apartment has increased by RM46,000.

(a) Derive his comprehensive income as per Haig- Simon definition for 2017.

(b) Derive his taxable income under the Malaysian income tax system.

(c) Compute the total tax payable for the taxable income you derived in (b).

Reference no: EM132587807

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