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 Income Tax Issues

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distributor
post Apr 11 2010, 10:36 PM

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More Q&A here:
http://thestar.com.my/news/story.asp?file=...88821&sec=focus

"You are entitled to the tax relief of medical expenses for serious diseases of up to a maximum of RM5,000 per annum, regardless of whether the insurance policy partly or totally covers your medical bill ..."



This post has been edited by distributor: Apr 12 2010, 01:10 AM
distributor
post Apr 12 2010, 01:10 AM

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QUOTE(David83 @ Apr 7 2010, 10:20 PM)
You should have received distribution statement/receipt from Public Mutual indicating details like gross distribution, distribution payout, tax paid and etc for each fund that got declare distribution.
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Still confuse.
For the Public mutual dividen - Shall i put in HK3 or E10/E11 column?

wufei
post Apr 12 2010, 08:27 AM

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QUOTE(penangmee @ Apr 11 2010, 02:54 PM)
VSS not automatically tax exempt under sch 6 para 15 but employer can and SHOULD request for exemption from IRB, Normally approved.

Which act,ruling or guideline says so?

This post has been edited by wufei: Apr 12 2010, 08:27 AM
eheheheh
post Apr 12 2010, 03:05 PM

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Dear all,


I'm working at oversea for almost 2 years. I wonder shall I do the e-filling since I never report to LHDN.

If yes, what should I do? I just leave the income column blank?

Thanks in advance for your helps smile.gif

Regards,
Ed
imax80
post Apr 12 2010, 05:49 PM

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QUOTE(eheheheh @ Apr 12 2010, 03:05 PM)
Dear all,
I'm working at oversea for almost 2 years. I wonder shall I do the e-filling since I never report to LHDN.

If yes, what should I do? I just leave the income column blank?

Thanks in advance for your helps smile.gif

Regards,
Ed
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work oversea means you need to pay tax there the country you working in..no need to declare here in malaysia
eheheheh
post Apr 12 2010, 06:01 PM

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QUOTE(imax80 @ Apr 12 2010, 05:49 PM)
work oversea means you need to pay tax there the country you working in..no need to declare here in malaysia
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However will it be a issue in the future if I don't declare now?

Will it be better I declare now and just leave the income column empty and keep my current salary slips or other related records in case the LHDN question about my income source in the future?



imax80
post Apr 12 2010, 06:12 PM

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QUOTE(eheheheh @ Apr 12 2010, 06:01 PM)
However will it be a issue in the future if I don't declare now? 

Will it be better I declare now and just leave the income column empty and keep my current salary slips or other related records in case the LHDN question about my income source in the future?
*
no worry la..income earned from another country no nee to declare in malaysia because, you should pay it in the income origin country.

Kindly call LHDN for clear explanation or check their website
simplesmile
post Apr 12 2010, 06:27 PM

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Anyone can help with my queries?

QUOTE(simplesmile @ Apr 11 2010, 06:51 PM)
Tolak : Jumlah tolakan/pelepasan cukai
(Pelepasan cukai seksyen 132 & 133 terhad kepada jumlah cukai yang dikenakan)
Less : Total tax deduction/relief (Section 132 & 133 tax relief restricted to total tax charged)

I do e-filing. I key in the Gross Dividend received, and the tax deducted from this Dividend. Funny thing is, this tax deducted appear under the line "Section 132 & 133". I thought it should appear under section 110? A search from the internet revealed that S 132 & 133 is related to Double Taxation. Is there something wrong with the e-filing?
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guanteik
post Apr 12 2010, 09:05 PM

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QUOTE(wennew @ Apr 11 2010, 07:17 PM)
Hi everyone, i wanna ask about the taxable public mutual fund income.

1. for the taxable income, should be declare under C2 dividend OR  C6 apa- apa perolehan atau keuntungan?

2. as i am not taxable and for the refund of the mutual fund income, should be declare under E 10 Tolakan cukai seksyen 54 akta kewangan 2007(dividen) OR E11 Tolakan cukai seksyen 110(lain-lain)

thanks
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@wennew
For Public Mutual distribution, file it under "Apa-apa perolehan atau keuntungan lain" for Taxable Income.
"Tolakan cukai seksyen 110 (lain-lain)" for Malaysian Tax.

QUOTE(distributor @ Apr 12 2010, 01:10 AM)
Still confuse.
For the Public mutual dividen - Shall i put in HK3 or E10/E11 column?
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@distributor
E11. Refer to my explanation on the top.
fraulein
post Apr 12 2010, 10:43 PM

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Hi, I’m still having headache filling up my BE Form. There’s a section D8D where we can get deduction for ‘Faedah Pinjaman Perumahan’. We’ve bought a house but it was under construction and we only have to start paying the installment s and interests upon completion, can I still get this D8D deduction?

If yes, how do I calculate how much deduction to write for section (since we’re not paying for it yet)?

As per its condition, the S&P must be signed in between 2009 till 31 December 2010. If we can only get the deduction after we started our installment which will be in 2010 income tax submission instead (house to be complete end of 2010), I’m worried the required S&P signed date will become 2010 till 31 Dec 2011. Then our deduction will not be valid anymore because the S&P was signed in 2009!

penangmee
post Apr 13 2010, 12:06 AM

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QUOTE(fraulein @ Apr 12 2010, 10:43 PM)
Hi, I’m still having headache filling up my BE Form. There’s a section D8D where we can get deduction for ‘Faedah Pinjaman Perumahan’.  We’ve bought a house but it was under construction and we only have to start paying the installment s and interests upon completion, can I still get this D8D deduction?

If yes, how do I calculate how much deduction to write for section (since we’re not paying for it yet)?

As per its condition, the S&P must be signed in between 2009 till 31 December 2010. If we can only get the deduction after we started our installment which will be in 2010 income tax submission instead (house to be complete end of 2010), I’m worried the required S&P signed date will become 2010 till 31 Dec 2011. Then our deduction will not be valid anymore because the S&P was signed in 2009!
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One of the requirements is for S&P signed between 10Mac 2009 and 31 Dec2010. Therefore according to the info you provided ,you are eligible for relief for 3 years- 2009, 2010 & 2011
The relief is for interest incurred . If you have not being charged any interest yet that means you have NIL to claim for 2009. You are still eligible for interest paid in 2010 & 2011 if there's interest paid.


Added on April 13, 2010, 12:13 am
QUOTE(simplesmile @ Apr 11 2010, 06:51 PM)
Tolak : Jumlah tolakan/pelepasan cukai
(Pelepasan cukai seksyen 132 & 133 terhad kepada jumlah cukai yang dikenakan)
Less : Total tax deduction/relief (Section 132 & 133 tax relief restricted to total tax charged)

I do e-filing. I key in the Gross Dividend received, and the tax deducted from this Dividend. Funny thing is, this tax deducted appear under the line "Section 132 & 133". I thought it should appear under section 110? A search from the internet revealed that S 132 & 133 is related to Double Taxation. Is there something wrong with the e-filing?
*
Look at the form again carefully. It does not appear in the Sek 132/133 column. It appears in the tax deduction under Sec 51 Finance Act 2007 column. as it should be.
Company dividends no longer appear under section 110 effective 2008.


This post has been edited by penangmee: Apr 13 2010, 12:13 AM
fraulein
post Apr 13 2010, 10:03 AM

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QUOTE(penangmee @ Apr 13 2010, 12:06 AM)
One of the requirements is for S&P signed between 10Mac 2009 and 31 Dec2010. Therefore according to the info you provided ,you are eligible for relief for 3 years- 2009, 2010 & 2011
The relief is for interest incurred . If you have not being charged any interest  yet that means you have NIL to claim for 2009. You are still eligible for interest paid in 2010 & 2011 if there's interest paid.
If I get my house in Oct 2010, meaning that I can only deduct 3 months interest in 2010 and only 1 full year in 2011? Does it means that I rugi 1 year plus of tax deduction on interest? sad.gif

BTW, how was the deduction calculated?
Let's say the house price was 300K. Monthly installment RM1400 for 30 years loan.

guanteik
post Apr 13 2010, 05:27 PM

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Has anyone received their income tax refund for year 2009?
SUSDavid83
post Apr 13 2010, 06:28 PM

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QUOTE(guanteik @ Apr 13 2010, 05:27 PM)
Has anyone received their income tax refund for year 2009?
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You meant the current filing for YA 2009?
viper88
post Apr 13 2010, 06:52 PM

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Havent pay income tax for 2009 yet lar.. how 2 get refund?

U mean refund for year 2008? Tat one i received already about 4 mths after submit for refund..damn.. have to call so many times.. say 2 mths can get but keep dragging..u know lar..some ppl slow 2do work.. vmad.gif

got back 5K + drool.gif
but already spent all once i got it last year... now elek..

my Income tax for year 2009.. RM 1700...
haiz.. pocket tight again...

QUOTE(guanteik @ Apr 13 2010, 05:27 PM)
Has anyone received their income tax refund for year 2009?
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guanteik
post Apr 13 2010, 07:57 PM

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@David83
Yup. I have some friends who got the refund, but me sad.gif

@viper88
It's time for you to do it if you have not.
anep
post Apr 13 2010, 07:59 PM

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gaji berapa ribu baru kne income tax?
viper88
post Apr 13 2010, 09:03 PM

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This year income tax is for last year income ma..
due to pay gomen is end of Apr...

Income tax refund last year i got it ady for year 2008 income la..

QUOTE(guanteik @ Apr 13 2010, 07:57 PM)
@viper88
It's time for you to do it if you have not.
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b00n
post Apr 13 2010, 09:16 PM

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QUOTE(guanteik @ Apr 13 2010, 07:57 PM)
@David83
Yup. I have some friends who got the refund, but me sad.gif

@viper88
It's time for you to do it if you have not.
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Mine they replied officially say I have no money in my account to be refunded although my filling this year shows that I have excess.
However, they did send me a letter last year claiming that I haven't paid enough for the past years which I haven't revert back to them. So I guess they would again be on my ass again this year sweat.gif

simplesmile
post Apr 13 2010, 09:19 PM

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QUOTE(penangmee @ Apr 13 2010, 12:06 AM)

Look at the form again carefully. It does not appear in the Sek 132/133 column. It appears in the tax deduction under Sec 51 Finance Act 2007 column. as it should be.
Company dividends no longer appear under section 110 effective 2008.
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There are total 6 pages in e-filing.
1. Maklumat Individu | Particulars of Individual
2. Pendapatan Berkanun & Jumlah Pendapatan | Statutory Income and Total Income
3. Pendapatan Tahun Kebelakangan | Income Of Preceding Years Not Declared
4. Tuntutan Pelepasan | Deduction Claim
5. Tuntutan Rebat / Tolakan Cukai / Pelepasan Cukai | Rebate Claim / Tax Deduction / Tax Relief
6. Rumusan Cukai | Tax Summary

Goto the last page, summary. The tax dividend paid is listed as

Tolak : Jumlah tolakan/pelepasan cukai
(Pelepasan cukai seksyen 132 & 133 terhad kepada jumlah cukai yang dikenakan)
Less : Total tax deduction/relief (Section 132 & 133 tax relief restricted to total tax charged)


I'm wondering if this is a systems glitch. If I click "submit", will I be penalised later for wrongful submission? ie, claiming as S 132 & S 133 instead of Section 51
rclxub.gif

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