11 days more to dateline (employment income).. e -file earlier to avoid congestion on 30 april...
Income Tax Issues
Income Tax Issues
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Apr 19 2010, 11:12 AM
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Senior Member
1,052 posts Joined: Jan 2003 From: Kajang | Cyberjaya |
11 days more to dateline (employment income).. e -file earlier to avoid congestion on 30 april...
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Apr 19 2010, 08:56 PM
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Senior Member
1,002 posts Joined: Sep 2007 |
IS this year we can get rebate of broadband?
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Apr 19 2010, 10:50 PM
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All Stars
52,874 posts Joined: Jan 2003 |
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Apr 20 2010, 09:07 AM
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Junior Member
319 posts Joined: Dec 2008 |
in Form BE, where to put REIT dividend? income lain-lain section? or not need declare? if no need declare, how to ask for the refund on paid tax?
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Apr 20 2010, 11:53 AM
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Junior Member
282 posts Joined: Jan 2003 From: Sibu,Swk |
sry ... need to ask ..if i lost my ea form ..can i go to the LHDN and get them to reprint my ea form?!
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Apr 20 2010, 11:56 AM
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Senior Member
732 posts Joined: May 2008 |
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Apr 20 2010, 11:57 AM
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Junior Member
282 posts Joined: Jan 2003 From: Sibu,Swk |
okie thanks
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Apr 20 2010, 12:43 PM
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Senior Member
1,052 posts Joined: Jan 2003 From: Kajang | Cyberjaya |
for REIT dividend, u may put at apa2 pendapatan lain, and the tax deducted you put it under rebate S110(lain-lain)
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Apr 20 2010, 01:51 PM
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Senior Member
2,656 posts Joined: Nov 2004 |
hey guys, one questions for tax expert:
Y/A 2009 - is my first time lodgement of tax because I just received my tax reference number from LHDN. But previously i already have income since Y/A 2004. The problem is that my previous income is chargable but no tax payable as the RM350 rebates > my tax payable. In Y/A 2009, finally i'm liable for tax, but do I need to declare my previous income? Total sum of income for 5 years is quite huge. If I do, what would that classified as? Income under declared in prior year of assessment? Will I subject to any penalty (Which I do not forsee, as I got no tax payable)? |
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Apr 20 2010, 08:13 PM
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Senior Member
2,564 posts Joined: Jan 2003 |
@keith_hjinhoh
1. You need to declare your income even you are not taxable (or even after the RM350 rebate). 2. Yes, you need to declare your previous income. There is a portion called "Previous years income which have not been declared" for you to fill your previous income. |
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Apr 20 2010, 09:31 PM
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Junior Member
62 posts Joined: Oct 2009 |
based on my calculation, for a single with an annual income of RM28,652 or RM2,388 does not need to pay income tax after taking into consideration of tax rebate of RM400 (for those chargeable income of less than RM35,000)
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Apr 20 2010, 10:02 PM
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Senior Member
2,656 posts Joined: Nov 2004 |
QUOTE(guanteik @ Apr 20 2010, 08:13 PM) @keith_hjinhoh Thank you for your reply.1. You need to declare your income even you are not taxable (or even after the RM350 rebate). 2. Yes, you need to declare your previous income. There is a portion called "Previous years income which have not been declared" for you to fill your previous income. Then, is there any options to claim personal relief and tax rebates for income in prior year but have not declared? Or those income will have to subject to tax or tax penalty (even though there's no tax payable) ? This post has been edited by keith_hjinhoh: Apr 20 2010, 10:03 PM |
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Apr 20 2010, 10:32 PM
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VIP
8,023 posts Joined: Jan 2003 From: :: Cheras :: |
QUOTE(sharinginfoz @ Apr 20 2010, 09:31 PM) based on my calculation, for a single with an annual income of RM28,652 or RM2,388 does not need to pay income tax after taking into consideration of tax rebate of RM400 (for those chargeable income of less than RM35,000) not chargeable for tax is not an excuse to not file |
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Apr 20 2010, 11:59 PM
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Senior Member
633 posts Joined: Jan 2006 |
QUOTE(truth_seeker_09 @ Apr 20 2010, 09:07 AM) in Form BE, where to put REIT dividend? income lain-lain section? or not need declare? if no need declare, how to ask for the refund on paid tax? REIT is tax at source, no need to declare and there is NO refund/set off for the tax. The tax is a final tax. |
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Apr 21 2010, 09:18 AM
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Senior Member
3,589 posts Joined: Mar 2005 From: Bolehland |
How about dividen for other share, let say TM?
Need to declare? I think the tax for that is around 25% |
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Apr 21 2010, 01:02 PM
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Senior Member
2,656 posts Joined: Nov 2004 |
I just came back from LHDN.
According to the officer in charged in LHDN, Pandan Indah Branch. Annual income below 24k per annum, do not have to lodge your income tax return if you do not have any tax reference number. |
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Apr 21 2010, 01:42 PM
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Junior Member
17 posts Joined: Apr 2010 |
1. Any one can explain what is this seksyen 132 and 133?
"Pelepasan cukai seksyen 132 & 133" 2. If my company give the vision care allowance, do i need fill in it the income column? Or it can be tax exempted? |
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Apr 21 2010, 01:51 PM
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Senior Member
3,188 posts Joined: Jul 2007 From: A place called "home" |
QUOTE(hi_o_o @ Apr 21 2010, 01:42 PM) 1. Any one can explain what is this seksyen 132 and 133? 1."Pelepasan cukai seksyen 132 & 133" 2. If my company give the vision care allowance, do i need fill in it the income column? Or it can be tax exempted? # Pelepasan cukai seksyen 132 (Section 132 tax relief) Tax deductions for income earned in Malaysia that is taxed by Malaysia and an overseas country (outside Malaysia) subject to the Double Taxation Agreement. Refer to the agreement for a list of applicable countries. This is to avoid double taxation of income by two different countries. # Pelepasan cukai seksyen 133 (Section 133 tax relief) Tax deductions for income earned in Malaysia that is taxed by Malaysia and an overseas country that does not have a Double Taxation Agreement with Malaysia. Do you earn income from overseas? 2. Your company's EA form to you would have sum up the vision care allowance in your total income Added on April 21, 2010, 1:53 pm QUOTE(harrychoo @ Apr 21 2010, 09:18 AM) How about dividen for other share, let say TM? is the company under the new single tier system? if so, no needNeed to declare? I think the tax for that is around 25% if it is still under imputation tax, then need - so that you can claim back the difference This post has been edited by leongal: Apr 21 2010, 01:53 PM |
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Apr 21 2010, 01:59 PM
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Junior Member
17 posts Joined: Apr 2010 |
QUOTE(leongal @ Apr 21 2010, 01:51 PM) 1. Thanks for your explanation. # Pelepasan cukai seksyen 132 (Section 132 tax relief) Tax deductions for income earned in Malaysia that is taxed by Malaysia and an overseas country (outside Malaysia) subject to the Double Taxation Agreement. Refer to the agreement for a list of applicable countries. This is to avoid double taxation of income by two different countries. # Pelepasan cukai seksyen 133 (Section 133 tax relief) Tax deductions for income earned in Malaysia that is taxed by Malaysia and an overseas country that does not have a Double Taxation Agreement with Malaysia. Do you earn income from overseas? 2. Your company's EA form to you would have sum up the vision care allowance in your total income Our gov should revise the income tax rate...max 100k is easily can hit, due to current inflation.. How long our gov doesn't revise the tax rate? One more thing, one child only can deduct RM1000....This is too LITTLE! This post has been edited by hi_o_o: Apr 21 2010, 01:59 PM |
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Apr 21 2010, 02:01 PM
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Senior Member
3,188 posts Joined: Jul 2007 From: A place called "home" |
QUOTE(hi_o_o @ Apr 21 2010, 01:59 PM) Thanks for your explanation. they might revise the rate after the implementation of GST, but not sure though....govt needs to balance up their budgets too (especially since we just overcome the global financial crisis)Our gov should revise the income tax rate...max 100k is easily can hit, due to current inflation.. How long our gov doesn't revise the tax rate? One more thing, one child only can deduct RM1000....This is too LITTLE! |
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