AL-SALAM REIT ANNUAL REPORT 2017

144 AL-SALĀM REIT ANNUAL REPORT 2017 7. INVESTMENT INCOME 2017 2016 RM RM Income from Islamic deposit placements 1,187,792 943,064 8. INCOME TAX Pursuant to the Section 61A of the Income Tax Act 1967, where 90% or more of the total income of the unit trust is distributed to the unitholder, the total income of the unit trust for that year of assessment shall be exempted from tax. The Manager also expects to distribute the net income within two months from the end of each financial year and accordingly, no estimated current tax payable or deferred tax is required to be provided in the financial statements. 9. EARNINGS PER UNIT The gross and net earnings per unit, which are calculated based on the profit before tax and profit for the financial year of the Fund, respectively, divided by the weighted average number of units in circulation as of 31 December 2017, are as follows: 2017 2016 RM RM Earnings attributable to unitholders: Profit before tax and profit for the year 40,605,632 46,667,408 Number of units 580,000,000 580,000,000 Gross earnings per unit (sen) 7.00 8.05 Net earnings per unit (sen) 7.00 8.05 NOTES TO THE FINANCIAL STATEMENTS - CONT’D