TARC ACCA 2005: exam guidance for paper 3.2 MYS

~~~~~~~~~~~~~~~Motivation Quote~~~~~~~~~~~~~~~~ ~~~~~~~~~~Sometimes it takes a lot of rain before you get your rainbow!!!!!~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~Just FOcus On The Key Topics That You Know And Ignore What You Don't!!!!!!~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~The glory is not in never failing but in rising again everytime you fall!!!!!~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~YOU MAKE THE FAILURE COMPLETE WHEN YOU STOP TRYING!!!!!!~~~~~~~~~~~~~~~~~~~~~~~~~~~

Tuesday, November 01, 2005

exam guidance for paper 3.2 MYS

Tax computation for individual
§ Resident status
§ 60 days test
§ employee benefit (share option)
§ joint assessment + income splitting between Husband and wife (relief and rebate)
§ settlement
– bankruptcy protection
- assests protection
§ Comparison of self assessment (individual Vs company)

P/s please pay attention to the examiner earlier article on resident status and individual computation. it's a must question for the exam.

RPGT
§ RPC
§ PARA 17 1a 1b 1c
§ Para 3(b)
§ Private residenct exemption

P/s this area has not had a question since the last 3 sittings, there might be one or two question in the area of RPGT or even none of the question like the previous sitting. Anyway, it's an area that you could not miss out for the coming tax exam.

Investment incentives
§ Electronic trading
§ Venture capital company
§ R&D
§ MSC company (pioneer vs non pionner status
§ approved food production

P/s tax incentive has always been the examiner's favourite area. Pay attention to those incentive that you should know by now and those which are newly gazeted.

Tax planning for company
§ S140 anti avoidance
§ Tax audit / investigation
§ Tax evasion Vs tax avoidance
§ Stamp duty

tax planning seems to be a topic which will always appear in the exam, however the marks allocated for those question are not very significant. It would help that you possess the basic tax planning knowledge to get a pass mark in the exam.

Specialist Industry / organisation
§ Property developer
§ Trade association
§ Co-operation

these area would be the area that you might wanna have a glance on it in order to score some points just in case that a question comes out on the topics stated above and you have no option than to choose it.

Islamic finance
§ BBA vs Ijara (HP vs leasing)
§ Treatment of zakat
§ Al – mud and Al wadiah

this is an area that you need to know for knowledge. there has been question on islamic finance and also the tax treatment for islamic finance in previous sitting however, it seems to be a rare question in the current exam. However it would also be a plus point to know some of the islamic financial instrument.