lOMoARcPSD|13518504
Format of Partnership
Taxations (Universiti Teknologi MARA)
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lOMoARcPSD|13518504
Format of calculating tax for each partner in partnership
RM
Net Profit
Add: Non-Allowable Expenses
Depreciation
Donation
Add: partners’ private expenses
- Interest on capital
- Travelling allowances
- Salary
- Drawing
- Other partners’ private expenses
Provisional Adjusted Income
Less: Partners’ private expenses
- Interest on capital
- Travelling allowances
- Salary
- Drawing
- Other partners’ private expenses
Divisible Income
RM
XXXX
xx
xx
xx
xx
xx
xx
xx
XXXX
(xx)
(xx)
(xx)
(xx)
(xx)
XXXX
Let say during pre-partnership (5 months: 2 partners involved: A & B) and during
post-partnership (7 months: 3 partners involved: A, B & C) in that year assessment
Divisible Income:
PRE: XXXX x 5/12 months with ratio (X:X)
POST: XXXX x 7/12 months with ratio (X:X:X)
Add: Partner’s private expenses
- Interest on Capital
- Travelling allowance
- Salary
- Drawing
- Other partner private expenses
Adjusted Income
Less: Capital Allowance (X:X:X) post ratio
Statutory Income
Add: Other income (4b,4c,4d, ect)
Aggregate Income (AI)
Less: Current year loss [S.4(a) business]
Less: Approved donations – restricted to 7%
of Aggregate Income (AI)
Total Income
Less: Relief
Chargeable Income
RM
A
RM
B
RM
C
XX
XX
XX
XX
XX
xx
xx
xx
xx
xx
XXX
(xx)
XXX
xx
XXX
(xx)
(xx)
xx
xx
xx
xx
xx
XXX
(xx)
XXX
xx
XXX
(xx)
(xx)
xx
xx
xx
xx
xx
XXX
(xx)
XXX
xx
XXX
(xx)
(xx)
XXX
(xx)
XXX
XXX
(xx)
XXX
XXX
(xx)
XXX
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