Encik Johan incurred qualifying agriculture expenditure of RM30,000 on the construction of a road on 15 September 2019 for the year ended 31 December 2019. The farm was disposed on 15 May 2020. Which statement is WRONG? Select one: A. Encik Johan can spread back the agricultural charge in the years assessment when the allowances are claimed B. An agricultural charge of RM30,000 arises from the disposal. C. The agricultural charge must be raised in YA 2020. D. There is no agricultural charge if disposal is performed after 5 years from the date the qualifying expenditure is incurred
Encik Johan incurred qualifying agriculture expenditure of RM30,000 on the construction of a road on 15 September 2019 for the year ended 31 December 2019. The farm was disposed on 15 May 2020. Which statement is WRONG? Select one: A. Encik Johan can spread back the agricultural charge in the years assessment when the allowances are claimed B. An agricultural charge of RM30,000 arises from the disposal. C. The agricultural charge must be raised in YA 2020. D. There is no agricultural charge if disposal is performed after 5 years from the date the qualifying expenditure is incurred
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter3: Taxes On The Financial Statements
Section: Chapter Questions
Problem 11P
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Encik Johan incurred qualifying agriculture expenditure of RM30,000 on the construction of a road on 15 September 2019 for the year ended 31 December 2019. The farm was disposed on 15 May 2020. Which statement is WRONG?
Select one:
A. Encik Johan can spread back the agricultural charge in the years assessment when the allowances are claimed
B. An agricultural charge of RM30,000 arises from the disposal.
C. The agricultural charge must be raised in YA 2020.
D. There is no agricultural charge if disposal is performed after 5 years from the date the qualifying expenditure is incurred
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