[WTS] Michelin XM2 195/60R15 tyres

jayreekazin — Mon, 13 Jun 2016 11:39:52 +0800

Hi all,

I am selling off my Michelin XM2 195/60R15 tyres.
Reason for sale is because I am going to trade-in my car.
And these tyres are too brand new to be given to the 2nd hand car dealer (heart pain).

Tyres are in good condition - bought 4 months ago, and went through little mileage

Let me know if you are interested.

ACCA F6 TAXATION (MYS) - hw help pls

jayreekazin — Thu, 14 Aug 2008 22:27:00 +0800

Hey, I need help with my hw, currently stucked bcoz i cant determine the basis period for the relevant YAs. I have checked my notes, and the textbook, but i cant figure it out. I had no basic in tax, so tax's kinda hard to me. Pls guide me, my lecturer is a lioness .

This is only part of the question, im not asking for the entire answers. Only the relevant data is shown here.

Question
ABC Sdn Bhd was incorporated on 1 March 2003 and commenced trading on 1 April 2003. It prepared its first set of accounts to 29 Feb 2004, and thereafter 12 months accounts to 28 Feb annually.

Capital allowance for relevant YA:
YA 2004 = Rm X 000
YA 2005 = Rm Y 000
YA 2006 = Rm Z 000

(also included in the question is the P&L a/c for years ending 29 Feb 2004, 28 Feb 2005, 28 Feb 2006)

Required: Calculate the chargeable income of ABC Sdn Bhd for the first 3 years of assessment.

My answer was:
Basis period for
YA 2003 : 1 Apr 2003 to 31 Dec 2003
YA 2004 : 1 Mar 2003 to 29 Feb 2004
YA 2005 : 1 Mar 2004 to 28 Feb 2005

Is my basis period correct? I'm not sure because then my computations for first 3 years of assessment would be: YA 03, 04 and 05. But the question gave info regarding YA 06 too (ie the P&L and CA). Most of the info given is for years 04, 05, and 06.

I thought the basis period starts from date of commencement of trading, and not date of incorporation? Because if it starts from 1 Mar 03, then i would get YA 04, 05, 06.

Hence, my confusion

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[WTS] Michelin XM2 195/60R15 tyres

ACCA F6 TAXATION (MYS) - hw help pls