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Syarikat DK Sdn Bhd is a locally incorporated company (the company) with a paid up...

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Accounting

Syarikat DK Sdn Bhd is a locally incorporated company (the company) with a paid up capital of RM8 million, that was granted a pioneer status with the production date set at 1 July 2020. The company closes its accounts to 30 June each year. For the year ended 30 June 2022, the pioneer business (Business 1) had an adjusted income of RM4,548,000 and was entitled to a capital allowance of RM 283,000. The company also carries on another business (Business 2) which does not enjoy any incentive under the Promotion of Investment Act 1986. Business 2 has an adjusted income of RM1,137,000 and an unabsorbed capital allowance of RM1,006,000 for the year of assessment 2022. The company has a property from which the adjusted rent for the year ended 30 June 2022 was RM2,275,000. Interest of RM1,138,000 from investments in bonds was received in September 2019. During the basis period for the year of assessment 2022, the company made cash donation of RM400,000 to an approved institution in Malaysia. Required: i. Discover, the pioneer periods of Syarikat DK. ii. Compute the income tax payable and the exempt income of Syarikat DK for the year of assessment 2022.

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