taxPOD

If we take our employees on a local trip and our company’s financial year end is on 31 December 2022, do we need to make the payment and depart for the trip before end of December in order to qualify for tax deductions in Year of Assessment (YA) 2022?

If we take our employees on a local trip and our company’s financial year end is on 31 December 2022, do we need to make the payment and depart for the trip before end of December in order to qualify for tax deductions in Year of Assessment (YA) 2022? As…
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I have paid for a one-year newspaper subscription fee. The subscription period is from April 2021 to March 2022. Do I need to apportion the amount according to the year when claiming lifestyle relief?

I have paid for a one-year newspaper subscription fee. The subscription period is from April 2021 to March 2022. Do I need to apportion the amount according to the year when claiming lifestyle relief? You can claim the full amount based on invoice date without needing to apportion the amount.
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If a property belongs to an individual, but the loan is under a company’s name. Would the rental income be reported under the individual’s income tax?

If a property belongs to an individual, but the loan is under a company’s name. Would the rental income be reported under the individual’s income tax? Yes, the rental income should be reported as the individual’s income. However, the loan interest incurred cannot be used to deduct against the rental…
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