Malaysian income tax law
Ms Helen Anderson
6 points
* Two 1-hour lectures and one 1-hour tutorial per week
*
First semester
* Clayton
* Prohibition: AAF3150
Objectives On completion of this subject students should be able to understand the taxation concept of income in Malaysia and the basic workings of the Malaysian income tax system; recognise the major income and deduction components of chargeable income; understand the taxation of various types of legal entities, how these differ, and their relative advantages and disadvantages; be aware of the availability of tax incentives to encourage investment in Malaysia; and understand and apply the main administrative aspects of taxation law.
Synopsis This subject examines the law of income taxation in Malaysia. The topics covered are similar to those covered by the equivalent Australian income tax law course AAF3150, but lectures and tutorials will concentrate on the legislation and case law which applies in Malaysia. Topics include background to the Malaysian legal and taxation systems; income for businesses, individuals, companies, partnerships and trusts; deductions; capital allowances (the Malaysian equivalent of depreciation); personal reliefs; tax incentives; the limited capital gains tax; tax administration and tax avoidance.
Assessment Written 10%
* Examination: 3.25 hours, (open book) 90%
Prescribed texts
CCH Asia Ltd Malaysian master tax guide 1996
Income Tax Act 1967 (Malaysia)
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