Premium Essay

2015 Budget

In: Business and Management

Submitted By NGWENGYEE
Words 608
Pages 3
Please confirm that our treatment in Illustration 3 above is in order.



What would be the treatment of RA c/f if the qualifying projects have been completed?
Should the apportionment of the statutory income from the qualifying projects continue until the RA c/f is fully utilised?

If our treatment in Illustration 3 above is in order, then we suggest that the wordings in the proposed Paragraph 4A should be amended accordingly so as to ensure that there is clarity.
IRBM reply:





iii.

Confirmed that the treatment in Illustration 3 is in order and the illustration above clearly explains Paragraph 4A.
If the qualifying projects have been completed, RA c/f is allowed to be deducted against the proportion of statutory income from qualifiying project until all RA is fully utilized.
Yes, the apportionments of the statutory income from the qualifying projects continue until the RA c/f is fully utilised.

We understand that a draft Public Ruling to address the above will be issued to the JPRWG for feedback before it is finalised.
IRBM reply:
Yes.

Request:
In view of the above, would like to seek clarification on the following in the case where the person was invoiced for secretarial fee and tax filing fee in year 1 but made payment in year 2:
a)

Does it mean that the person is not eligible for the deduction under PU(A) 336/2014 since the person did not incur and pay the secretarial fee and tax fee in the same year, i.e. year 1?

b)

When the person makes payment in year 2, can the person claim the deduction by revising the tax return for year 1?

As the Rules in P.U. (A) 336/2014 are made pursuant to paragraph 154(1)(b) read together with paragraph
33(1)(d) of the Income Tax Act 1967 (ITA), CTIM is of the view that the deduction should be allowed on an incurred basis pursuant to the provisions of Section 33(1) of the...

Similar Documents

Free Essay

5dpp Activity 2

...newly formed team. The disadvantages far out weigh any benefit from this model, as personality type ENFJ’s are sensitive (identified by the Jung typology test); Too Sensitive – While receptive to criticism, seeing it as a tool for leading a better team, it's easy for ENFJs to take it a little too much to heart. (NERIS Analytics Limited, 2011). The CIPD Profession Maps focus is aimed at HR professionals; it adds the greatest sustained value to the organisation and how it operates now and in the future, It captures what successful and effective HR people do and deliver across every aspect and specialism of the profession, and sets out the required underpinning skills, behavior and knowledge. (Chartered Institute of Personnel and Development , 2015) Advantages of using the CPD Map are the structure and relevance to my role, future role and changes planned for a Wilko HR Shared Service Model 2017 road map, as well as fitting with my preferred learning style; ENFJs are global learners. They...

Words: 1450 - Pages: 6

Premium Essay

Callon Petroleum Strategy Change in 2016

...Callon Petroleum is an independent land-based operator in oil and gas exploration and production industry. The company started repositioning its onshore strategies in 2009 and completed in 2013, shifting its operations from the offshore waters in the Gulf of Mexico to the onshore, Permian Basin region in West Texas. After fully divesting from the Medusa field in the Gulf of Mexico, Callon has turned into a pure-play concentrating 100% of its business at Midland Basin, a sub-basin located within Permian Basin. Why Permian Basin? The Permian Basin has supported production since the 1940s. It has long been the most important oil and gas producing area in the United States. The producers operating in the Basin benefits from rich oil and gas reserve loaded in the world’s thickest deposits of rocks, well-established infrastructure from historical operations and relatively stable regulatory environment that has been established over the time. The business strategy of Callon is to establish resource base and acreage position in the core of Permian Basin. Callon expends its asset base through self-development and acquisition of acreage. As of March 2016, Callon holds roughly 17,675 net surface acres in the Southern and Central Midland Basin that are prospective for multiple oil-bearing intervals. Specifically, the company’s production growth potential comes from five currently producing zones, including the Lower Spraberry, Middle Spraberry, Wolfcamp A, the Upper Wolfcamp B and the...

Words: 524 - Pages: 3

Free Essay

Implementation of Budget Stabilization Plan to Reduce Fiu Costs

...Wednesday, September 16, 2015 Ms. ________ CFO Office of University Finance, Florida International University, Miami, FL 33199 Subject: IMPLEMENTATION OF BUDGET STABILIZATION PLAN TO REDUCE FIU COSTS This letter is to inform all students, staff, administrators, and faculty members of the measures taken to overcome difficulties with the current budget. Despite to our efforts in reducing FIU financial costs, our revenues decreased by 20% compared to last year. Based on close analysis of our budget situation, we are not receiving enough funds from the state, we are spending more than our budget allows, and our tuition costs are lower than other similar educational institutions. We decided to create a strategy for the fiscal year 2016 to stabilize the budget situation. This strategy encapsulates five plans; the first two will be implemented on the summer 2015 while the remaining three plans will be applied starting January 2016. The strategy context will be as follows: * Increase tuition cost and fees by 6.5% to adjust inflation. * Frozen salaries for both faculty and staff for the next eighteen months. * Reducing spending for the fiscal year 2015 by 12%. * Request financial assistance from nonprofit organizations and the government. * Increase endowment by 10% for the fiscal year 2015 and an additional 15% for the following year. We hope that with these difficult actions our budget can be under control in the next two years while......

Words: 323 - Pages: 2

Free Essay

Ms Miss

...Technological * Government spending on research and development In the aftermath of the economic crisis that began in 2009, the governments in many countries averted this threat.6 The significant drop of private R&D in these countries was efficiently offset by government R&D investments in 2010 and 2011.7 Still, the stabilization or fall of government R&D budgets in advanced countries, the slowdown in emerging markets, and the decreased appetite of business investment have slowed the advance of innovation combined global private and public R&D expenditure followed a path of constant growth, Gross domestic expenditures on R&D (GERD) in the high-income economies of the Organisation for Economic Co-operation and Development (OECD) increased The worldwide recovery of business enterprise expenditure on R&D (BERD) was quick Two main policy strands form the core of present innovation policy. On the one hand, there is a need to improve the framework conditions for innovation; these include the business environment, access to finance, competition, and trade openness, as captured in the Innovation Input Sub-Index of the GII model. On the other hand, nations also need dedicated innovation policies targeting both innovation actors and the linkages among them; these include collaborative research projects, public-private partnerships, and clusters.13 Business executives in charge of innovation surveyed in Chapter 5 by Engel et al. stress the importance......

Words: 606 - Pages: 3

Premium Essay

Hospital Abc Case Study

...1.0 Recruitment & Retention Plan Recruitment refers to the process of attracting, screening and selecting qualified people for a position within an organization (Sheryl & Amy, 2012). According to the case study, the major issue is the difficulty in attracting new employees. To be more specific, Hospital ABC found that there are still vacancies in critical areas that have yet to be filled up. Even with extended block, the Hospital will have difficulty attracting good employees as there are many other private hospitals competing for the same pool of talent. These hospitals are not afraid to pay above average market rates to secure these employees. Organizations within the healthcare industry are competing for qualified applicants to safeguard future growth. As such, there is a need for organizations to analyze the existing market competition for talent and create the corresponding responses in terms of competitive reward packages. The recruitment policies of the competitors also affect the recruitment function of the organizations. To face the competition, many organizations have to change their recruitment policies according to the policies being followed by the other competitors. The recruitment policy of an organization states the objectives of recruitment and provides a structure for implementation of recruitment program. Of primary importance is to ensure the organization’s recruitment plan is reaching out to the right talent pool in filling open roles. At the same......

Words: 5489 - Pages: 22

Premium Essay

Marketing Management

...Triple Bottom Line Analysis 3 a) Profit Analysis: 3 b) Planet Analysis: 4 c) People Analysis: 5 IV. 4C’s Stakeholders Analysis 6 a) Organizational Analysis 6 b) Community Analysis 7 c) Customer Analysis 7 d) Competitor Analysis 8 V. Goals 9 VI. Marketing Mix 9 VII. Promotion 10 VIII. Promotion Budget 12 Bibliography 13 I. Introduction SoleRebels is Africa’s fastest growing eco-friendly and fashionable World Fair Trade Organization certified Footwear Company based in Ethiopia. It was founded in 2004 by Bethlehem Tilahun Alemu (Ph.D.) aiming at creating job opportunities for the poor and marginalized yet skilled artisans in her community so that they help themselves through work instead of handouts. She started the company with just five employees and now, it has reached more than 300. The company manufactures its stylish shoes from recycled tires and army camouflage, locally resourced organic materials, and sells them around the world online, through its own standalone stores in Asia, America and Europe and through other major retailers like Amazon. (Iwuoha & Bokrezion (PhD), 2015) II. Triple Bottom Line Analysis a) Profit Analysis: Bethlehem Alemu, the founder and CEO of SoleRebels, has been very tight in sharing her profit or profit margin over the years but it is not secret that her company is growing in exponentially beyond expectations. She founded the company in 2004 with a......

Words: 4509 - Pages: 19

Premium Essay

Portfolio Business Plan

...Paradox Software Business Plan Name Founder 2222 West Code Street Medford, OR 97501 (541) 882-6568 towhomitmayconcern@paradoxsoft.com February 28th, 2016 A. Executive Summary 4 A1. Company Identification: 4 A2. Mission of the Company: 4 A4. Keys to Success: 4 B. Company Summary 6 B1. Industry History: 6 B2. Legal Form of Ownership: 6 B3. Location and Facilities: 6 B4. Management Structure: 6 B5. Products and Services: 6 C. Market Analysis 8 C1. Target Market 8 C2. Industry Analysis: 8 C3. SWOT Analysis 10 D. Market Strategy 14 D1. 4Ps: Discuss each of the four Ps of marketing as they relate to the company’s products and services. 14 D2. Price List: Develop a price list for the company’s products and services. 15 D3. Promotional Strategy: Develop a promotional strategy including specific tasks, target dates, and responsible parties. 15 D4. Sales Forecast: Develop a monthly sales forecast for the first year of operations, including a discussion of expected market conditions. 16 E. Implementation Strategy 17 E1. Overall Strategy: Summarize the overall strategy that will be utilized to launch your business, including target dates and goals for implementation. 17 E2. Monitoring Plan: Develop a post-launch monitoring plan (e.g., financial impact, quality control, customer satisfaction, monitoring schedule) to evaluate the success of the company in meeting milestones. 17 F. Financial Statements and Projections 19 F1. Forecasted Profit and Loss...

Words: 4380 - Pages: 18

Premium Essay

Mixed Economic System: Indonesia

...largest economy in Southeast Asia, Indonesia – a diverse archipelago nation of more than 300 ethnic groups -- has charted impressive economic growth since overcoming the Asian financial crisis of the late 1990s. The country’s gross national income per capita has steadily risen, from $560 in the year 2000 to $3,630 in 2014. Today, Indonesia is the world’s fourth most populous nation, the world’s 10th largest economy in terms of purchasing power parity, and a member of the G-20.  It has made enormous gains in poverty reduction, cutting the poverty rate to more than half since 1999, to 11.2% in 2015. Indonesia’s economic planning follows a 20-year development plan, spanning from 2005 to 2025. It is segmented into 5-year medium-term plans, called the RPJMN, each with different development priorities. The current medium-term development plan – the third phase of the long-term plan -- runs from 2015 to 2020, focusing, among others, on infrastructure development and improving social assistance programs in education and healthcare.  Such shifts in public spending has been enabled by a reform of long-standing energy subsidies, allowing for more investments in programs that directly impact the poor and near-poor, as well as vast improvements in infrastructure investment. Considerable challenges remain in achieving Indonesia’s goals. Due to weaker demand for commodities – the fuel for Indonesia’s economic boom in the past decade – Indonesia’s GDP growth has been slowing since 2012.......

Words: 3524 - Pages: 15

Premium Essay

The Current Situation Facing the British Steel Industry

...manufacturing success would not have happened. In 1972, the steel production level has reached an all-time peak of 28 Mt (million tonnes) per year and offered more than twice as many jobs as it does now. Referencing back to Michael Porter’s Book, ‘The Competitive Advantage of Nations ‘, in year 1945, there were 50 mills of steel all throughout UK and it has been reduced to 7 in 1970. Following this, the decision to privatise the British Steel Industry was taken by Margaret Thatcher in 1988, however, since 1990, the real value of the industry has fallen by 24% and it does not seem to be getting better. Following the Financial Crisis of 2008, the production of British Steel decreased to less than 10mt/year and suffered a gradual decline until 2015 where it has increased slightly to 12mt, creating a ‘national steel crisis’. (Office of National Statistics) The British Steel Industry is in...

Words: 2646 - Pages: 11

Premium Essay

Project Management

...them as ‘project’? Answer 1 I have chosen two articles extracted from The New Straits Times (Business Times B2) – from the 15th November 2014 issue. There are two (2) articles that I have found that can be classified as a “project’   1. AirAsia Eyes Higher Load in 2015   a. This article entails a project – new cooperate building that is slated to begin in December 2014 and is scheduled to complete by June 2016 which defines a life span of a project and has defined objective of constructing a new building.   b. It is unique as it is a 60 story building dubbed RedQ with an estimated floor area of 613,383 square feet.   c. A building cost of close to RM 140 million with the purpose of serving as a its new cooperate headquarters satisfies the elements of cost and performance requirements that defines a project.   d. It requires cross orginizalation participation because the proposed corporate building is to accommodate multiple departments with various individual and or specialized requirements and needs which involves the input and collaboration for various organizational participates.       e. This building has the element of risk and uncertainty as it has to be built within its own certain set area, budget and time to serve a predetermined purpose which makes it unlikely to have been done or carried out before.   2.   Dialog Subsidiaries Ink RM2.7b Petronas Gas Deal.   a. The project has the objective of creating a facility which includes a regasification unit and two......

Words: 331 - Pages: 2

Free Essay

Cima

...Operational case study exam – February 2016 Pre-seen materials – Students’ copy February 2016 Operational case study examination Pre-seen materials First Class Bakery Contents 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Introduction Products Production Customers Distribution/suppliers/recycling Employees Financial statements Information and costing systems The industry News articles ©CIMA 2015. No reproduction without prior consent Page 2 3 7 10 12 13 15 19 20 21 Page 1 Operational case study exam – February 2016 Pre-seen materials – Students’ copy Introduction First Class Bakery manufactures cakes and desserts which are packaged and sold directly to food retailers. All production is carried out on a single site in the west of Beeland, a country that has B$ as its currency. Most of the cakes manufactured are for large food retailers who sell the cakes as their own brand. First Class Bakery packages the cakes using the brand required by each retailer. Some cakes and desserts are sold to small independent food retailers under First Class Bakery’s own brand. All sales are made in Beeland, in B$. First Class Bakery was established over 30 years ago by three brothers: John, James, and Frank Mitchell. The three brothers owned and ran the business until recently when 80% of its equity shares were sold to Universal Foods, a large group quoted on Beeland’s stock market. The two older brothers John and James retired from the......

Words: 5533 - Pages: 23

Free Essay

Event Launch

...Launch Event Proposal Spending a day with Listener Name Student number Professor Unit code Unit name Word count Vivian Sheldon 211536 Chanel Lucas 307 Tour & Performance management 1577 Vivian Sheldon 211536 2 of 16 Table of contents Chapter 1. Introducing Listener 2. Concept 2.1 General description launch 2.2 Theme 2.3 Venue 2.4 Guests 3. Budget 3.1 Reasoning budget 4. Production 4.1 Technical requirements 4.2 Floorplan 4.3 Timetable 5. Personnel 6. Catering 7. Contracts 8. Strategies 9. Conclusion 10. References 11. Appendices Page 3 3 3 3 4 4 5 6 8 8 9 9 10 10 11 11 11 12 13 Vivian Sheldon 211536 3 of 16 1. Introducing Listener Listener started out in 2002 and consists of 3 members; Dan sings and plays bass, Kriss is on drums and Jon works the guitar (I Am Listener, 2016). The band aims to create a new genre, the spoken word punk rock. They write touching poetry and give it a rough edge by adding guitar and drums. Listener conducts themselves under a no nonsense policy, focusing entirely on the music, with the belief all the fuss around it is superfluous. ‘We are just three normal guys who love to make and share our music with the world, we are no different than any of you.’ (I Am Listener, 2016) 2. Concept 2.1 General launch description This event not only celebrates the launch of the new album but it is also the kick off for Listeners first Australian tour! The goal of this......

Words: 2528 - Pages: 11

Premium Essay

Corporate

...usive use at Foundation for Liberal and Management Education (FLAME), 2015 2095 MAY 1, 2008 W. EARL SASSER HEATHER BECKHAM Thomas Green: Power, Office Politics, and a Career in Crisis Another long day at the office had drawn to a close. Thomas Green felt the pulsing in his temples that usually preceded a migraine. As he stepped outside Dynamic Displays’ corporate headquarters in Boston, the brisk air made him catch his breath. It was now February 5, 2008. Green could not believe that in five short months his dream promotion had turned into a disaster. When Green had been promoted to his new position in September, he was a rising star. Now, he would be lucky to celebrate his one-year anniversary with the company. His boss, Frank Davis, had sent the division vice president, Shannon McDonald, two scathing emails criticizing Green’s performance. Green and Davis had yet to see eye to eye on work styles or market trends. Tension had also risen when Green did not enthusiastically endorse the sales forecasts made by Davis. Green felt the forecasts were either overly optimistic or outright fabrications. Before he left for the day, Green had reread the series of emails regarding his performance and was certain that Davis was setting him up to be dismissed. Davis’s most recent email had made it clear to Green that his position as a senior market specialist was in jeopardy. He did not have much time to rectify the situation. McDonald had emailed a formal request to him that afternoon,...

Words: 5330 - Pages: 22

Free Essay

E-Portfolio

...To the reader, I bet you are wondering what this is all about, or perhaps who I even am. Let us start with a greeting, shall we? Hi, I’m Celina Gonzales, a college freshman taking up BS Legal Management. This E-portfolio encapsulates my entire writing journey of sorts in my ENGLCOM (Basic Communication and Study Skills) course throughout the second term of my first year in university. In here, you will be able to read about various ideas—from the meaning of the word “infinite” beyond the concept taught to us in our Math classes, to the causes of the Philippines’ lagged progress (no, it is not solely due to corruption), and, well, Korean Pop. With all these topics mentioned, I hope you appreciate how much I have grown in terms of flexibility, as I was never comfortable with writing beyond my interests. The entire journey was a roller coaster, thanks to the great deal of papers that came with strict deadlines, high standards, along with numerous revisions inked in either pink, green, red, or blue. However, I believe that all those days figuring out how exactly my professors want me to revise parts of my papers and whatnot are worth it—The innumerable scratch papers that I was armed with in the beginning of the term are gone. I can now write an article of great quality without having to frantically jot down my ideas on a separate sheet of paper. I believe that this growth of mine is impossible without my professors. Therefore, I would like to extend my gratitude to them: To...

Words: 6149 - Pages: 25

Premium Essay

Projcet Mangement

...‘project’? Answer 1 I have chosen two articles extracted from The New Straits Times (Business Times B2) – from the 15th November 2014 issue. There are two (2) articles that I have found that can be classified as a “project’   1. AirAsia Eyes Higher Load in 2015   a. This article entails a project – new cooperate building that is slated to begin in December 2014 and is scheduled to complete by June 2016 which defines a life span of a project and has defined objective of constructing a new building.   b. It is unique as it is a 60 story building dubbed RedQ with an estimated floor area of 613,383 square feet.   c. A building cost of close to RM 140 million with the purpose of serving as a its new cooperate headquarters satisfies the elements of cost and performance requirements that defines a project.   d. It requires cross orginizalation participation because the proposed corporate building is to accommodate multiple departments with various individual and or specialized requirements and needs which involves the input and collaboration for various organizational participates.       e. This building has the element of risk and uncertainty as it has to be built within its own certain set area, budget and time to serve a predetermined purpose which makes it unlikely to have been done or carried out before.   2.   Dialog Subsidiaries Ink RM2.7b Petronas Gas Deal.   a. The project has the objective of creating a facility which includes a regasification......

Words: 333 - Pages: 2