mistake of my exam…
juz finish my income tax law paper an hour ago…Now, i m filled wif dissapointment n sadness…I pretty much freak out in my exam when i saw da first question…There r lots of detail which i m not sure whether it should be included in my calculation or not. Well, i stil manage to finish da paper in time. But da worst part is, i made a stupid mistake. I went to meet my lecturer rite after da exam. ask him , ‘is food for employee a deduction during meeting?’ ‘no’,he said..I was so stupid to include food as deduction..food is a need, it ll incur whether ther is a meeting or not…shhshhh…y dint i ever thought of that?? Those who r not taking income tax probably dun know wat m i writing here..well, basically deduction is expenses in relation to ur income that u claim in order to reduce ur income tax…i wonder whether da marker would laugh at my stupid mistake?? -.-" hmm…I stil hv 1 more paper to go , stil hv to do good in it!! Wish me luck!
June 18th, 2005 at 9:47 pm
Food for employees during a meeting is TAX DEDUCTIBLE. It’s categorised as staff benefit. Your lecturer sucks. Ask him to refer to Choong Kwai Fatt’s book Malaysian Taxation Principles and Practice 2004 Tenth edition Chapter 14, para 18.9 (a) ie page 247 under (a) Entertainment provided to employees.
It’s either 100% or 50% tax deductible, depending on whether it is incidental to the entertainment of clients or not.
June 24th, 2005 at 10:10 pm
really? but i m taking aus tax law not malaysian…btw, may i know who u r?
June 26th, 2005 at 10:34 am
I am somebody who messages u so many times in MSN, but i never get any reply from u anymore. This sucks. Maybe I should just delete you from my MSN since we’re no longer chatting there.