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 LYN stock market FAQs & Guide, T+3, Dividends, commissions/fees, etc...

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lklatmy
post May 24 2009, 11:54 PM

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QUOTE(kmarc @ May 24 2009, 04:08 PM)

Aiyaaa.... I don't even know what is franked dividends or single-tier dividends. Will google for more info....
That will be the last part of this subtopic "Dividend and taxes".....



Aiyaaa.... you guys know more that me ler.... "imputation tax system"???? Single-tier tax system???? Me only noob ikan bilis la...  blush.gif

Anyway, I still need to read more about what you guys mentioned above. Hope I can complete everything by tonight.  smile.gif
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To give some helping hand,you are free to use my postings in my blog.There's some explaination on Single tier tax and imputation system.

This post has been edited by lklatmy: May 24 2009, 11:56 PM
lklatmy
post Jul 8 2009, 10:51 AM

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QUOTE(kmarc @ Jul 7 2009, 06:15 PM)


BKAWAN - Interim dividend 10 sen Single Tier T.E.
KLK - Interim dividend 10 sen Single Tier
ALLIANZ - 1st and final dividend 2 sen

If I understand the STS/TTS correctly,
1) BKAWAN - gives out 10 sen, company not taxed and shareholder no need to declare in their income tax
2) KLK - gives out 10 sen, company was taxed 25% but shareholder no need to declare in their income tax
3) ALLIANZ - gives out 2 sen under TTS, company was taxed and shareholder still have to declare in their income tax.

Am I correct in this?  hmm.gif
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1 and 2 same answer,the single tier dividend are of the same category and it's not taxable in the hand of the receipient. No need to include in the income tax return.KLK should be more specific and state the dividend as " Interim dividend 10 sen Single Tier T.E."

3 is taxable in the hand of the receipient,must declare the gross amount and offset the Section 108 credit(ie the tax credit) against the tax payable.If you hold 1000 shares in Allianz,you will receive dividend of RM15 with tax credit of RM5.


I stand to be corrected.
lklatmy
post Jul 15 2009, 02:51 PM

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QUOTE(kmarc @ Jul 8 2009, 08:08 PM)




My question is:
1) Is the "less tax" now 25%, 26% or 27%?  rclxub.gif
2) We only receive RM73, but why declared RM100? Is it because the RM27 was taxed?
3) If our income tax bracket was 13%, then we can claim back RM14 right? How do we claim this back? Is this the same as the "E10) Tolakan cukai seksyen 110 (dividen)" in the income tax form?
4) By looking at the dividend certificate (subsidiary income tax certificate), how do we know whether that dividend is taxable or not?

Basically, what I'm driving at is to understand the whole process and to explain it as simple as possible - from the point of a shareholder receiving dividend to how he file the income tax returns to how to claim back if the tax bracket is lower.

Maybe you can give a better example/explanation?  nod.gif Something like your example:

Company declare dividend of 10% less tax
You hold 1000 shares of RM1 each : Receive RM100
But 27% tax so actually receive only RM73
Declare RM100 as dividend during income tax filing
Tax bracket 13% so can claim back 14% (RM14)
Claim is through.....
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1.The rate varies according to the basis year,Y/A 2003 to Y/A2006 was 28 %,Y/A 2007 was 27 %,Y/A 2008 was 26 % and Y/A 2009 is 25 %.

2.The RM27 is the tax paid by the company to the IRB.

3.You setoff the RM27 against your tax payable and the unutilised amount will be refunded.

4.I don't use Nominee CDS so I have no idea on the subsidiary income tax certificate.Normal Dividend warrant is quite straight forward and it clearly states whether the dividend is taxed,TE or single tier.


As for the example/explanation,I am kind of lazy and hope other forumers can help you out.

Sorry for the late reply as I 've missed your post.
lklatmy
post Nov 4 2010, 11:56 PM

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QUOTE(kaikiattan @ Nov 4 2010, 05:11 PM)
hi everyone, i have a quick and simple question here

If i queue for a stock at 8:30am, at price 0.50.
Then when market opens at 9:00am, the last price of the stock is RM0.35.
What will happen to my queue at 0.50? Will it be matched AUTOMATICALLY at the best selling price when market open? thanks!
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I presume the TOP(Theratical opening Price) here is 35 sen,and your order is a buying order.

Your order will be matched(done)at 35 sen then.

This post has been edited by lklatmy: Nov 4 2010, 11:56 PM

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