BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Noah and Suzy both are working. They choose joint assessment for their tax. Their chargeable income are RM32, 400. How much their tax rebate?
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RM400
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RM600
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RM800
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RM1, 000
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Explanation:
Detailed explanation-1: -A salaried taxpayer can choose the new tax regime at the beginning of FY 2023-24 and intimate their employer. The employee cannot change their choice anytime during the financial year. However, they can change their choice when filing the income tax return in July 2024.
Detailed explanation-2: -One-time incomes such as winnings from lotteries, horse races, crossword puzzles, card games, gambling or betting of any form are categorized under ‘Income from Other Sources.
Detailed explanation-3: -Income tax generally is computed as the product of a tax rate times the taxable income.
There is 1 question to complete.