INCOME TAX ACT 1967 (ACT 53) PART III - ASCERTAINMENT OF CHARGEABLE INCOME Chapter 3- Gross income
Section 30. Special provisions applicable to gross income from a business.
(1) Where a deduction has been made under subsection 34(2) in ascertaining the adjusted income of the relevant person from a business for the basis period for a year of assessment, that basis period being prior to the relevant period, then-
(a) if the deduction has been made in respect of a debt estimated to have become wholly irrecoverable, any sum recovered on account of the debt by that person in the relevant period shall be treated as gross income of the relevant person from the business for the relevant period; and
(b) if the deduction has been made in respect of a debt estimated to have become partly irrecoverable and there has been received by that person in respect of the debt a sum (or an aggregate of sums) in excess of the amount of that part of the debt not estimated to have become irrecoverable, so much of that excess as is recovered by him in the relevant period shall be treated as gross income of the relevant person from the business for the relevant period.
(2) Where during the relevant period any sum is refunded to the relevant person-
(a) on account of payroll tax paid by him in respect of remuneration paid by him to any person employed by him in the production of his gross income from a business for the relevant period or any basis period ending prior to the relevant period; or
(b) on account of turnover tax paid by him in respect of the turnover of the business;
the sum refunded shall be treated as gross income of his from the business derived from Malaysia for the relevant period.
(3) Where during the relevant period-
(a) recovered expenditure (within the meaning of Schedule 2) is recovered by or on behalf of the relevant person in connection with a business of his which includes the working of a mine; and
(b) the total recovered expenditure so recovered exceeds the aggregate of-
(i) the residual expenditure (within the meaning of that Schedule) at the date on which that period begins; and
(ii) the qualifying mining expenditure (within the meaning of that Schedule) incurred by him during that period,
the amount of the excess shall be treated as gross income of the relevant person from the business for the relevant period.
(4) Where-
[Am. Act A226:s.14]
(a) a deduction has been made under section 33(1) in computing the adjusted income of the relevant person from a business for the basis period for a year of assessment (that basis period being prior to the relevant period) in respect of any outgoing or expense (including any sum payable, rent payable or expense incurred of the kind described in section 33(1)(a), (b) or (c)); and
(b) the whole or any part of a debt in respect of any such outgoing, expense, sum, rent or expense is released in the relevant period,
the amount released shall be treated as gross income of the relevant person from that business for the relevant period.