Tutorial 2

17.1

Basis period for:
Food catering business
1/4//04 - 31/12/04 (YA 04)
1/7/04 - 30/6/05 (YA 05)
1/7/05 - 30/6/06 (YA 06)
1/7/06 - 30/6/07 (YA 07)

Retailing business
1/1/06 - 31/12/06 (YA 06)
1/7/06 - 30/6/07 (YA 07)

b)



17.2

Basis period
1/7/04 - 31/12/04 (YA 04)
1/1/05 - 31/12/05 (YA 05)
1/3/05 - 28/2/06 (YA 06)
1/3/28 - 28/2/07 (YA 07)

* Capital Allowance
YA 05, 06 & 07 - A.A (20% x 48,000)
.....................= 9,600


17.3

Basis period
1/2/05 - 31/1/06 (YA 06)
1/2/06 - 30/6/07 (YA 07)



17.4

a)
Basis period
1/1/03 - 31/12/03 (YA 03)
1/1/04 - 31/12/04 (YA 04)
1/7/04 - 30/6/05 (YA05)
1/7/05 - 30/4/06 (YA 06) FY
1/5/06 - 30/4/07 (YA 07)



b)
Failure year - YA 06

Failure year is happen when any accounts which is prepared > 12 months @ <>


17.5

a)
1/1/05 - 31/12/05 (YA 05)
1/1/06 -31/12/06 (YA 06)
1/4/06 -31/3/07 (YA 07)

b) Overlapping period = 1/4/06 - 31/12/06

c)
Basis year - calendar year basis @ accounting period.

Basis period - date in the YA


17.6

1/7/07 - 30/11/07 (YA 07)

The first basis period for a new business commenced by Nova Sdn Bhd is until 30/11/07. The reason is the new business need to follow the ultimate/parent/holding company's financial year.


17.7

1.
1/10/07 - 31/3/08 & thereafter to 31/3

Basis period
1/10/07 - 31/12/07 (YA 07)
1/1/08 - 31/12/08 (YA 08)
1/4/08 - 31/3/09 (YA 09)

The change in accounting period is non 31/12 & less than 12 months, therefore the basis period is end 31/12 until account are made up for a 12 months accounting period.

2.
1/10/07 - 31/3/09 & thereafter to 31/3

Basis period
1/10/06 - 31/12/07 (YA 07)
1/1/08 - 31/12/08 (YA 08) FY
1/1/09 - 31/12/09 (YA 09) FY
1/4/09 - 31/3/10 (YA 10)

The change in accounting period is non 31/12 and more than 12 months, therefore the basis period is end 31/12 until account are made up for a 12 months accounting period.

3.
1/10/07 - 30/9/08 & thereafter to 30/9

Basis period
1/10/07 - 30/9/08 (YA 08)
1/10/08 - 30/9/09 (YA 09)

The accounting year is 12 months and there is no change in accounting date. There is no change for basis period.