S E C T I O N 6 F I N A N C I A L R E P O R T S 155 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2021 (CONT’D) 4. Gross rental income Group Fund 2021 2020 2021 2020 RM RM RM RM Rental income: - Base rental income 61,544,366 72,113,424 61,544,366 72,113,424 - Unbilled rental income 3,734,166 4,421,638 3,734,166 4,421,638 Percentage rent 558,467 558,429 558,467 558,429 Service charges 3,161,221 5,258,875 3,161,221 5,258,875 68,998,220 82,352,366 68,998,220 82,352,366 5. Other income Group Fund 2021 2020 2021 2020 RM RM RM RM Timing of revenue recognition: At a point in time Parking income 1,499,953 2,055,216 1,499,953 2,055,216 Event and advertising income 1,044,910 1,693,134 1,044,910 1,693,134 2,544,863 3,748,350 2,544,863 3,748,350 6. Investment income Group Fund 2021 2020 2021 2020 RM RM RM RM Income from Islamic deposit placements 329,773 451,867 329,773 451,867 7. Tax credit/(expenses) Group Fund 2021 2020 2021 2020 RM RM RM RM Deferred tax relating to the origination and reversal of temporary differences (Note 15) 16,833 (1,245,581) 16,833 (1,245,581) Pursuant to Section 61A of the Malaysian Income Tax Act, 1967 (“Act”), income of the Fund will be exempted from tax provided that at least 90% of its total taxable income (as defined in the Act) is distributed to the unitholders’ in the basis period of the Fund for that year of assessment within two months after the close of the financial year. If the 90% distribution condition is not complied with or the 90% distribution is not made within two months after the close of the financial year which forms the basis period for a year of assessment, the Fund will be subject to income tax at the prevailing statutory rate on its total taxable income. Income which has been taxed at the Fund's level will have tax credits attached when subsequently distributed to unitholders. As at the date of this financial statements, the Fund has declared more than 90% of its distributable income to unitholders for the financial year ended 31 December 2021 accordingly. No provision for income tax expense has been made for the year.
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