2015 - Controlled Transactions And Transactions Between Relatives

invest2k

Budget 2015 - New Sections 29(4) and (5) of ITA 1967 (Anti-Avoidance Provisions)

Any such amount which which first becomes receivable in the relevant period shall be deemed to be obtainable on demand in the following basis period and be treated as gross income in the following basis period where a person is entitled to receive any gross income (other than business and dividend income) from Malaysia aource and where such amount first becomes receivable to the person in the relevant period arising from transactions between :

(1) Persons one of whom has control over the other ; or
(2) Persons both of whom are controlled by some other persons ; or
(3) Individuals who are relatives of each other.

Example
Employment/ interest / rent / royalty / any pension / annuity / periodical payment


问题 (公司拖欠以下费用很久+他们是Controlled Person / Party或者是Relatives)
(1) Are the above sections applied to director's salary?


(2) Are the above sections applied to director's fee? Are the above new sections 29(4) and (5) mutually exclusive with Section 25(2A) ?

Section 25(2A) of ITA1967 - bonus / director's fee paid to employee or director is taxed in the year of receipt.


(3) Based on the above, the employment income (receivable) is only taxable in the following basis period.

(i) Whether can still follow the old tax ruling (accrual / receivable basis); or

(ii) Must follow the new tax ruling (taxed in the following basis period)?

missing07

这个很有趣。这个会影响个人所得税。

invest2k

顶帖。。。

ihateaccountax

怎樣噢。。。。
Receipt basis or Accrued basis?

ihateaccountax

兩年了。。。。
都還沒有人回答我。。。

tstan88

what lai. not understand o.. too long. lazy read