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  3. (b) mark's employer obtained a car loan and educat

(b) Mark's employer obtained a car loan and education loan from the bank for Mark's...

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(b) Mark's employer obtained a car loan and education loan from the bank for Mark's use. The total amount of loans borrowed were RM150,000 and RM200,000 for car and education loans respectively. The details of the loans as at 31 December 2020 are stated below. Type of loan Car (RM) Total (RM) Education (RM) 200,000 350,000 150,000 250,000 25,000 40,000 Principal loan 150,000 Balance of principal as at 100,000 31.12.2020 Interest paid by 15,000 employer Interest paid by employee 5,000 Interest subsidised by 15,000 employer 7,500 12,500 25,000 40,000 Required: Compute the amount of interest taxable on Mark for YA 2020. (b) Mark's employer obtained a car loan and education loan from the bank for Mark's use. The total amount of loans borrowed were RM150,000 and RM200,000 for car and education loans respectively. The details of the loans as at 31 December 2020 are stated below. Type of loan Car (RM) Total (RM) Education (RM) 200,000 350,000 150,000 250,000 25,000 40,000 Principal loan 150,000 Balance of principal as at 100,000 31.12.2020 Interest paid by 15,000 employer Interest paid by employee 5,000 Interest subsidised by 15,000 employer 7,500 12,500 25,000 40,000 Required: Compute the amount of interest taxable on Mark for YA 2020

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