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Question 2 Encik Tarmizi (45 years old) has been working as an internal...

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Accounting

Question 2
Encik Tarmizi (45 years old) has been working as an internal auditor with TNBS Bhd since 1 May 2017. On 30 November 2023, due to the company's restructuring, his service was terminated by the company and he was paid gratuity of RM100,000 and compensation for loss of employment amounting to RM220,000.
Details of his remuneration and benefits received from the company for the year 2023 were as follows:
(a) Salary of RM6,570 per month after deduction of EPF 11%, housing loan amounting to RM1,200 and schedular tax deduction (STD) of RM130.
(b) Entertainment allowance of RM1,300 per month and 3 months salary as bonus.
(c) He received a watch of RM 4,000 for an excellent service award in year 2023.
(d) The company paid RM3,500 and RM1,000 for medical and dental treatment for his wife and children respectively.
(e) Encik Tarmizi produced entertainment bills of RM14,560 that was fully expended in carrying out his official duties.
(f) TNBS provide a Perodua Myvi cost RM85,000 for his used.
Required: Calculate Statutory Employment Income for Encik Tarmizi. (20marks)
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