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Mr. Anderson is a Swedish citizen working with a multinational company based in Subang Jaya. He has been working with this company since 2002. He is 60 years old and returned to Sweden permanently on 20 December 2021 due to retire on 28 February 2022. The following information was provided in his return for the year 2021: RM Salary per month 35,000 Leave pay (January and February 2022) 70,000 Bonus for the year 2021 87,500 Entertainment allowance per month 6,000 Travelling allowance per month 3,500 Leave passage to the Sweden for family 40,000 Gratuity for years of service with the company 700,000 Additional information: a) Anderson was given the option to buy 20,000 units of the company's shares at the price of RM10 per share on 1 October 2021. The market value at that time was RM13 per share. He exercised his option on 1 December 2021 when the price was RM15 per share. b) He incurred RM15,000 on entertainment expenditure on official duties. The travel allowance is for official duties. The entertainment and travelling allowance were paid up to the end of 31 December 2021. c) The company provided a bungalow until 31 December 2021. The rental of RM6,000 (including RM1,000 for full furnishings) was paid for by the company. The house was larger than what the family actually acquired. Anderson estimates that 30% of the house was used for official entertainment. d) He was provided with a luxury car in January 2021. The car costed RM360,000 when it was purchased. The employer did not bear the cost of fuel for Anderson. e) Anderson took an interest-free loan of RM100,000 from his employer to finance his second car. The loan was given from the equity funds of the employers. The interest of the said loan would have been RM15,000 if it had been borrowed from a commercial basis. f) Anderson is married to Lisa who is a housewife and they have three children. The first child aged 22 years is pursuing a degree in medicine in Ireland. Anderson contributed RM50,000 towards her upkeep during the year. The second child is continuing degree course in accounting at INTI University in Malaysia and Anderson incurred RM60,000 during the year. The third child is 16 years old and he is attending Subang Jaya International School. Anderson fully supports the education of his younger two children. g) Lisa suffers from renal failure and had to go for kidney transplant at a private medical centre in December 2021. Anderson incurred medical expenses of RM45,000 during the year. His employer paid RM40,000 of the expenses. h) Anderson made a cash donation of RM10,000 to an approved organization in Malaysia. i) Anderson made the normal contribution to the EPF, which was equivalent to 11% of his salary. He also pays life assurance premiums of RM18,000 per annum. j) He received dividends amounting RM8,000 from his portfolio of shares in the Sweden in 2021. He also receives rental income of RM100,000 from his family home in Gold Coast which is directly credited into his account in the Sweden. He also receives interest income from his fixed deposits in Maybank of RM6,400. k) Anderson bought a laptop from himself amounting RM4,200. He has also bought books and magazines for the family for RM1,600 during the year. Required: Compute the income tax payable by Anderson for the year of assessment 2021. Note: You should indicate by the use of the word 'nil' any item referred to in the question for which no adjusting entry needs to be made, including any relief or rebate, in the tax computation. Mr. Anderson is a Swedish citizen working with a multinational company based in Subang Jaya. He has been working with this company since 2002. He is 60 years old and returned to Sweden permanently on 20 December 2021 due to retire on 28 February 2022. The following information was provided in his return for the year 2021: RM Salary per month 35,000 Leave pay (January and February 2022) 70,000 Bonus for the year 2021 87,500 Entertainment allowance per month 6,000 Travelling allowance per month 3,500 Leave passage to the Sweden for family 40,000 Gratuity for years of service with the company 700,000 Additional information: a) Anderson was given the option to buy 20,000 units of the company's shares at the price of RM10 per share on 1 October 2021. The market value at that time was RM13 per share. He exercised his option on 1 December 2021 when the price was RM15 per share. b) He incurred RM15,000 on entertainment expenditure on official duties. The travel allowance is for official duties. The entertainment and travelling allowance were paid up to the end of 31 December 2021. c) The company provided a bungalow until 31 December 2021. The rental of RM6,000 (including RM1,000 for full furnishings) was paid for by the company. The house was larger than what the family actually acquired. Anderson estimates that 30% of the house was used for official entertainment. d) He was provided with a luxury car in January 2021. The car costed RM360,000 when it was purchased. The employer did not bear the cost of fuel for Anderson. e) Anderson took an interest-free loan of RM100,000 from his employer to finance his second car. The loan was given from the equity funds of the employers. The interest of the said loan would have been RM15,000 if it had been borrowed from a commercial basis. f) Anderson is married to Lisa who is a housewife and they have three children. The first child aged 22 years is pursuing a degree in medicine in Ireland. Anderson contributed RM50,000 towards her upkeep during the year. The second child is continuing degree course in accounting at INTI University in Malaysia and Anderson incurred RM60,000 during the year. The third child is 16 years old and he is attending Subang Jaya International School. Anderson fully supports the education of his younger two children. g) Lisa suffers from renal failure and had to go for kidney transplant at a private medical centre in December 2021. Anderson incurred medical expenses of RM45,000 during the year. His employer paid RM40,000 of the expenses. h) Anderson made a cash donation of RM10,000 to an approved organization in Malaysia. i) Anderson made the normal contribution to the EPF, which was equivalent to 11% of his salary. He also pays life assurance premiums of RM18,000 per annum. j) He received dividends amounting RM8,000 from his portfolio of shares in the Sweden in 2021. He also receives rental income of RM100,000 from his family home in Gold Coast which is directly credited into his account in the Sweden. He also receives interest income from his fixed deposits in Maybank of RM6,400. k) Anderson bought a laptop from himself amounting RM4,200. He has also bought books and magazines for the family for RM1,600 during the year. Required: Compute the income tax payable by Anderson for the year of assessment 2021. Note: You should indicate by the use of the word 'nil' any item referred to in the question for which no adjusting entry needs to be made, including any relief or rebate, in the tax computation

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