Unit Trust
10 important questions on Unit Trust
What types of income are treated as non-business sources for a unit trust derived from Malaysia?
- Section 4(c): Dividend (exempt as single tier/exempt divd), Interest income (including any profits received by an Islamic fund).
- Section 4(d): Rental income.
- All are treated as non-business sources.
- There is NO business source for a unit trust.
How is income received in Malaysia from outside Malaysia treated for a unit trust?
What are the types of exempted interest for a unit trust?
- (a) Any savings certificates issued by the Government
- (b) Securities or bonds issued or guaranteed by the Government
- (c) Bon Simpanan Malaysia issued by Bank Negara Malaysia
- (d) Debentures or Islamic securities, non-convertible loan stock, approved by the securities commission
- (e) Interest income from a bank
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How are gains from the realisation of investments of a unit trust treated?
How is the 10% qualifying expenditure treated in the tax computation of a unit trust?
What are the components of permitted expense (PE) in a unit trust?
- Manager’s remuneration
- Maintenance of register of unit holders
- Share registration expenditure
- Secretarial, audit, accounting fee, telephone, printing & stationery, postage
What is the tax rate applied in the tax computation of a unit trust?
What is excluded on the Permitted expense?
What are unit holders taxable on in the basis year for that year of assessment?
- Share of the total taxable income of the unit trust.
- Distributed to them by way of distributions.
How will unit holders be taxed, and what can they claim against the tax chargeable?
- Taxed on the gross distribution.
- Can claim the Section 110 set-off against the tax chargeable.
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