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Questions and Answers
Which of the following expenses is NOT considered an allowable expense for recruitment?
Which of the following expenses is NOT considered an allowable expense for recruitment?
- Advertising for job vacancies.
- Internal training programs. (correct)
- Participation in job fairs.
- Payment to employment agencies.
Which statement correctly describes the tax treatment of pre-commencement recruitment expenses?
Which statement correctly describes the tax treatment of pre-commencement recruitment expenses?
- They are chargeable to tax regardless of the amount spent.
- They can be deducted without any limitations or qualifications.
- They are calculated as part of the company's annual profits.
- They can be deducted under specific conditions. (correct)
Which condition must be met for employee recruitment expenses to be deductible?
Which condition must be met for employee recruitment expenses to be deductible?
- Expenses must be incurred after the commencement of business.
- Expenses should be related to training grants from the government.
- Expenses must be for the recruitment of employees for business commencement. (correct)
- Expenses need to be invoiced in the financial year they are incurred.
Which of the following expenses is deductible under section 33 of the ITA 1967 for a company incorporated in Malaysia?
Which of the following expenses is deductible under section 33 of the ITA 1967 for a company incorporated in Malaysia?
What is a requirement regarding training grants for the deductibility of recruitment expenses?
What is a requirement regarding training grants for the deductibility of recruitment expenses?
What is a prerequisite for claiming recruitment expenses for a business commencing operations?
What is a prerequisite for claiming recruitment expenses for a business commencing operations?
Which type of company is eligible to claim establishment and recruitment expenses?
Which type of company is eligible to claim establishment and recruitment expenses?
How should recruitment expenses incurred prior to business commencement be treated in terms of tax?
How should recruitment expenses incurred prior to business commencement be treated in terms of tax?
Which recruitment expenses can be considered as establishment expenses for a company?
Which recruitment expenses can be considered as establishment expenses for a company?
Which of the following is NOT considered a deductible recruitment expense?
Which of the following is NOT considered a deductible recruitment expense?
Which of the following conditions must be satisfied for a company to deduct recruitment expenses?
Which of the following conditions must be satisfied for a company to deduct recruitment expenses?
Which of the following can be categorized under pre-commencement expenses for company recruitment?
Which of the following can be categorized under pre-commencement expenses for company recruitment?
What is the implication of not claiming double deduction for approved training expenses?
What is the implication of not claiming double deduction for approved training expenses?
What is a requirement for any individual to claim a deduction for payroll taxes?
What is a requirement for any individual to claim a deduction for payroll taxes?
Which of the following best describes a pre-commencement expense requirement?
Which of the following best describes a pre-commencement expense requirement?
What type of company is specifically mentioned as eligible for single deduction of establishment expenses?
What type of company is specifically mentioned as eligible for single deduction of establishment expenses?
What percentage of an employee's remuneration is considered in the EPF and PRS contributions?
What percentage of an employee's remuneration is considered in the EPF and PRS contributions?
What type of deduction applies to payroll tax expense paid on behalf of an employee?
What type of deduction applies to payroll tax expense paid on behalf of an employee?
Which expense related to business income is not deductible?
Which expense related to business income is not deductible?
When was the application for the approval of an Islamic stock broking business made eligible?
When was the application for the approval of an Islamic stock broking business made eligible?
Which of the following is NOT related to employee remuneration expenses?
Which of the following is NOT related to employee remuneration expenses?
For which type of employee income is the payroll tax expense deductible?
For which type of employee income is the payroll tax expense deductible?
Which of the following expenses can be categorized as a single deduction for business income?
Which of the following expenses can be categorized as a single deduction for business income?
What does N/A stand for in the context of the deductible expenses?
What does N/A stand for in the context of the deductible expenses?
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Study Notes
Recruitment Expenses
- Costs incurred within one year prior to business commencement are deductible.
- Single deduction applies for head-hunter fees if related to recruitment expenses.
- Deductible under section 33 of the ITA 1967 if they meet the specified conditions.
Company Eligibility for Claims
- Must be incorporated in Malaysia.
- Must be licensed under the Securities Industry Act 1983.
- Must be a resident company.
Establishment Expenses for Islamic Stock Broking Companies
- Incurred establishment expenditures are eligible for single deductions.
- Must apply for approval of the Islamic stock broking business between September 2, 2006, and December 31, 2009.
- Includes costs for feasibility studies and market research related to the business setup.
Employee-related Expenses
- Contributions to Employee Provident Fund (EPF) and Private Retirement Schemes (PRS) for employees are deductible.
- Payroll tax expense paid on behalf of employees is deductible for chargeable income.
Pre-commencement Business Training Expenses
- Training expenses incurred up to one year before the business starts can be deducted.
- Must meet specific qualifying conditions under section 33 of the ITA 1967.
- Must not be receiving government training grants or claiming double deductions for approved training expenses.
Job Fair Participation
- Expenses related to participation in job fairs and payments made to employment agencies for recruitment can be deductible as pre-commencement expenses.
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