1. PARTNERSHIP TAXATION
HOLIDAY VACATIONS
NAME OF GROUP: MATRIX NO.
NOOR AMIRA BT ABD HAMID 16DAT12F1053
SHALENY A/P RAMACHANDRAN 16DAT12F1079
NOR AIMI FARHANA BT MOHD HOSNI 16DAT12F1097
MUHD A;IFAA B ZULKIFLI 16DAT12F1042
MUHD SYAHID BIN ZAINUDIN 16DAT12F1041
4. • A salaried partner usually works for the company
• who also receives a regular salary in
exchange for his/her services for the company.
• He does not share the loses of partnership
although he may share the profits.
• A Full partnership involves in carrying out a
business purpose.
• Full partners responsibilities in connection with
management of the business,
• Each individual partner assumes full responsibility
for all of the business's debts and obligations..
• is a partnership between a fundraising
organisation and a commercial entity, where
the commercial entity provides money, skills
or other resources to the fundraising
organisation.
SALARIE
D
PARTNER
S
COPERAT
E
PARTNER
S
5. • A limited partnership allows each partner to
restrict his or her personal liability to the
amount of his or her business investment .
• limited partner(s) do(es) not participate in
management
• A sleeping partner is a partner who ‘sleeps’,
that is, he does not take active part in the
management of the business.
• Only contributes to the share capital of the
firm, is bound by the activities of other
partners.
• Shares the profits and losses of the business
6.
7. COMPUTATION OF ADJUSTED INCOME & DIVISIBLE INCOME FOR PARTNERS
add
less
less
less
Net profit (before taxation)
1) Partners’ remuneration
2) Partners’ interest on capital or advanced
3) Private and domestic expenses of a partners
4) Any item (not allowable/allowable)/Expenses not
allowed by partnership business
Other income (as in financial statement)
• Other incomes
• Real property
• Statutory income of dividend , rental and interest
• Profit on disposal of asset
Double deduction
PROVISIONAL ADJUSTED INCOME-
section 55(2)
Section 55(3)
1) Partners’ remuneration
2) Partners’ interest on capital or advanced
3) Private and domestic expenses, if any of a partner
DIVISIBLE
RM
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RM
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(xx)
(xxx)
xxx
(xxx)
(xxx)
(xxx)
xxx
8. COMPUTATION OF STATUTORY INCOME
Partners’ remuneration
Partners’ interest on capital or advanced
Private and domestic expenses of a partners
Divisible income
ADJUSTED INCOME
(PARTNERS)
Balancing charge
Balancing allowance / Capital allowance
Section 4(a): statutory of partnership
business
Other income
Sec 4(b) : statutory income of salary
Sec 4(c) : statutory income of dividend & interest
Sec 4(d) : statutory income of rental & royalty
Sec 4(e) : statutory income of pension & annuity
Sec 4(f) : other than sec 4(a) – (e)
AGGREATE
INCOME
(-) Donation for approved institution
TOTAL
INCOME
Personal relief
a) Tax payer
b) Spouse/wife/husband
PARTNERS
A B C
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(xx)
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(xx)
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(xx)
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