Income tax
The executor of a deceased shall be assessable and chargeable for tax for the year of assessment and for any previous year of assessment in respect of the chargeable income of that individual and, where they are so assessable and chargeable, they shall be assessable and chargeable to tax in like manner and to the like amount as the individual would be assessed and charged to tax if he had not died (Income Tax Act 1967 (Malaysia) s 74(1)). “Executor” includes a person who is administering or managing the estate of the deceased person and such person is assessable and chargeable to tax (Kerajaan Malaysia v Yong Siew Choon [2006]1 MLJ 1).
Any tax payable by the executors of a deceased individual, including penalties for late payment shall be a debt due from and payable out of the estate of the deceased (Income Tax Act 1967 (Malaysia) s 73(4)).
The executor of a deceased individual shall not distribute any of the assets of the estate unless they have made provision for the full payment of the tax (Income Tax Act 1967 (Malaysia) s 73(5)).
This preview is an excerpt from the following publication. this publication for access to all the commentary and precedents.
Probate - Step by Step Guide & Precedents
by By Lawyers For Lawyers author - C M Teng
Overview
This publication gives practical guidance through the law governing the process of obtaining letters of administration in Western Malaysia.
The commentary and precedents provides systematic instruction through all issues likely to arise in general practice including;
- Grant of Probate
- Estate Taxes
- Reseal of Probate
- Application for Executor and Administrator Commission
This guide will ensure compliance with the Probate and Administration Act 1959 and the extensive procedural law as set out in the Rules of the High Court 1980. The precedents in this work are for use in the states of West Malaysia.