– -INCOME TAX 104

Date: 17 November 2023  

Fees: RM690.00 nett 

Remote Online Training (Microsoft Teams)

Code: ATTAX104

Income Tax 104 – Understanding Malaysian Property Taxes, Leasing & Other Incomes  

INTRODUCTION AND OBJECTIVE:

A fundamental tax training programme that aims to help participants to learn & understand the taxability of business and non-business incomes such as leasing and rental income, gains on disposal of investments, trading and mining of cryptocurrencies and many more.

In addition, participants will also be exposed to the tax treatments on Real Property Gain Taxes (RPGT), Real Property Company (RPC) and stamp duties relating to real estates.

HOW WILL YOU BENEFIT:

At the end of this seminar session, participants would be able to:

  • Learn the scope and definition of Business Income and how an Investment Income can be deemed as one
  • Identify the difference tax treatments between a lease and a rental and comprehend the situation where leases could be used as a tax avoidance mechanism. For example, the transfer of unsold stocks / inventories to the Fixed Assets and subsequently rented out to the client via an instalment payment scheme could be held as a separate rental / leasing activity.
  • Discover the tax treatments for cryptocurrencies and e-commerce transactions and how they could be subjected to tax in Malaysia
  • Understand the tax treatments of Investment Holding Companies (IHC), Real Property Companies (RPC) and Real Property Gain Taxes (RPGT)

METHODOLOGY:

Lecture, power point presentation, questions & answers session

WHO SHOULD ATTEND:

  • Entrepreneurs, Business Owners, Directors, General Managers
  • Financial Controllers, Finance Managers, Accountants & Accounts Executives
  • HR Managers, Marketing Managers, Operation Managers
  • Suitable for all type of businesses and industries

Course Outline

9.00- 10.30am: Taxation of Business & Leasing Income

  • Introduction to Business Income
    [Identify the types of income that could fall under S4(a)- Business Income]
  • Introduction to Leasing
    [Understand the definition and use of a lease and how it could be deemed as a business income]
  • Leasing as a Separate Business Source
    [Recognise the tax treatments for the income received from a leasing activity under Income Tax Regulation 1986 and how to treat it accurately]
  • Basis of apportionment & Criteria to Claim Capital Allowances
    [Determine the basis of allocating income and expenses for a leasing business vs a non-leasing business and the accurate way to claim Capital Allowances for them]
  • Open discussions, Q&A

11.00- 12.30pm: Taxation of Non-Business Income

    • Badges of Trade
      [Determine what kind of investment income would be deem as a trade transaction]
    • Taxation Cryptocurrencies & e-Commerce Transactions
      [Determine how e-commerce transactions and digital currencies such as Bitcoin, Ethereum, XRP and others could be subjected to taxes in Malaysia]
    • Investment Holding Company under S60F of ITA (non-listed)
      [Grasp the general concepts & tax treatments of a non-listed investment Holding Company under S60F]
  • Investment Holding Company under S60FA of ITA (listed)
    [Understand the general concepts & tax treatments of a listed investment Holding Company under S60FA]
  • Open discussions, Q&A

1.30-3.00pm: Taxation of Malaysian Real Estates (Part 1)

    • Introduction

[General introduction to Malaysian real estate and property taxes]

  • Real Property Gain Tax (RPGT)
    [Understand the Malaysian Property Taxes, calculations of acquisition & disposal price and the forms required]
  • Real Property Company (RPC)
    [Learn the definition & concepts of RPC and the implications of buying or selling shares of a RPC company]
  • Open discussions, Q&A

3.30- 5.00pm: Taxation of Malaysian Real Estates (Part 2)

    • Rental as Business vs Investment Income

[Understand the scope and criteria of Rental Income under S4(a) and S(d)]

  • Rental of Industrial Buildings
    [Understand the tax treatments of rental of Industrial Buildings and the eligibility to claim IBA / CA)]
  • Stamp duties & Exemptions

[Discuss other relevant information such as stamp duties, tax planning & etc]

  • Open discussions, Q&A1

Trainer’s Profile:

Samuel Ngeow has over 7 years of experience in the field of taxation and finance. He is a tax and finance specialist with ACCA and CAT qualifications. He has worked with several small and established accounting firms, with the most notable being Baker Tilly Monteiro Heng. He spends most of his career in the SME space and is a specialist in the industry. Throughout his career in taxation, he has accumulated a vast experience in preparing and reviewing tax computations, in addition to handling tax audit and investigation matters. In addition, Samuel is also a certified HRDF trainer and had conducted various tax related training programmes within Klang Valley and the peninsular Malaysia.

Apart from taxation, Samuel also handles a small portfolio of investments for his private investors and had contributed some business-related articles to Malaysia Retailer, Smart Investor and PropertyGuru.