Computation of Divisible Income for Partnership For Year Assessment 2010

Net income : 87,900

Add Partner Remuneration
Salary (Partner)
Salma ( 2800 x 5 bulan) 14,000
Mimi (2500 x 5 bulan ) + ( 3500 x 7 bulan ) 37,000
Munirah (1800 x 5 bulan ) + ( 3200 x 7 bulan ) 31,400 82,400

Add Interest on Capital

Salma (60,000 x 5 % x 5 /12) 1,250
Mimi (35,000 x 4 % x 5 /12) + ( 80,000 x 6 % x 7 / 12) 3,383
Munirah (30,000 x 3 % x 5 / 12) + (65,000 x 4 % x 7 / 12) 1,892 6,525

Add Personal Expenses

Salma 150
Munirah 120 270

Add Expenses Not Allowable / Any Item

Depreciation 18,000
Advertisement - New Signboard 500
Administration ( 1 / 4 x 20,000 ) 5000
Donation 1000 24,500
201,595
Less Non Bussiness Income
Property Sales 55,000
Rental 12,000 ( 67 , 000 )

Less Double Deduction

Disable Worker ( 450 x 12 bulan ) ( 5 , 400 )

PROVISIONAL ADJUSTED INCOME 129,195

Less Items Under Section 55 (3)

Salary 82, 400
Interest On Capital 6,525
Personal Expenses 270 ( 89 , 195 )

DIVISIBLE INCOME 40, 000

 Computation Of Total Income For Partner : Year Assessment 2010
Salma Mimi Munirah

Salary 14,000 37,000 31,400

Interest On Capital 1,250 3,383 1,892
Personal Expenses 150 - 120
Divisible Income 8,333 16,667 15,000

ADJUSTED INCOME FOR PARTNERS 23,733 57,050 48,412

(-) Capital Allowence - ( 10 , 000 ) ( 10 , 000 )

SEC 4 (a) STATUTORY INCOME OF BUSINESS 23,733 47,050 38,412

(+) SEC 4 (d) STATUTORY INCOME OF RENTAL 2,500 5,000 4,500

AGGREGATE INCOME 26,233 52,050 42,912

(-) DONATION ( 7 %) 208 417 375

TOTAL INCOME 26,025 51,633 42,537

CALCULATION :

Divisible Income :
Salma : (40 000 x 5/10 x 5/12 ) Rm 8,333
Mimi : ( 40 000 x 3/10 5/12 ) +(40 000 /2 x 7/12 ) = Rm 16,667
Munirah : (40 000 x 2/10 x 5/12 ) +( 40 000 /2 x 7 /12) = Rm 15,000

Statutory Income Of Rental

Salma : 12000 x 5/10 x 5/12 = Rm 2,500
Mimi : 12000 x 3/10 x 5/12 + ( 12000/2 x 7/12) = Rm 5,000
Munirah: 12000 x 2/10 x 5/12 + ( 12000/2 x 7/12) = Rm 4,500

Donation
Salma : ( 1000 x 5/10 x 5/12) = Rm 208
Mimi : ( 1000 x 3/ 10 x 5/12) + ( 1000/2 x 7/12) = Rm 417
Munirah : ( 1000 x 2/10 x 5/12) + ( 1000/2 x 7/12) = Rm 375
Donation limit 7 %

Salma = Rm 26, 233 x 7 % = Rm 1,836

Mimi = Rm 52, 050 x 7 % = Rm 3,644

Munirah = Rm 42,912 x 7 % = Rm 3,005

Capital Allowance :
Rm 20,000 x 5 /10 = Rm 10,000