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 Income Tax Issues

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nevland
post Apr 19 2010, 11:12 AM

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11 days more to dateline (employment income).. e -file earlier to avoid congestion on 30 april...
chgchksg128
post Apr 19 2010, 08:56 PM

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IS this year we can get rebate of broadband?
SUSDavid83
post Apr 19 2010, 10:50 PM

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QUOTE(chgchksg128 @ Apr 19 2010, 08:56 PM)
IS this year we can get rebate of broadband?
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Yes for this but you can only file next year (YA 2010).
truth_seeker_09
post Apr 20 2010, 09:07 AM

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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?
qse150
post Apr 20 2010, 11:53 AM

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sry ... need to ask ..if i lost my ea form ..can i go to the LHDN and get them to reprint my ea form?!
imax80
post Apr 20 2010, 11:56 AM

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QUOTE(qse150 @ Apr 20 2010, 11:53 AM)
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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ask from your HR department
qse150
post Apr 20 2010, 11:57 AM

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okie thanks
nevland
post Apr 20 2010, 12:43 PM

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for REIT dividend, u may put at apa2 pendapatan lain, and the tax deducted you put it under rebate S110(lain-lain)


keith_hjinhoh
post Apr 20 2010, 01:51 PM

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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)?
guanteik
post Apr 20 2010, 08:13 PM

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@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.
sharinginfoz
post Apr 20 2010, 09:31 PM

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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)
keith_hjinhoh
post Apr 20 2010, 10:02 PM

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QUOTE(guanteik @ Apr 20 2010, 08:13 PM)
@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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Thank you for your reply.

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
Syd G
post Apr 20 2010, 10:32 PM

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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)
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not chargeable for tax is not an excuse to not file
penangmee
post Apr 20 2010, 11:59 PM

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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.
harrychoo
post Apr 21 2010, 09:18 AM

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How about dividen for other share, let say TM?
Need to declare?

I think the tax for that is around 25%
keith_hjinhoh
post Apr 21 2010, 01:02 PM

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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.
hi_o_o
post Apr 21 2010, 01:42 PM

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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?
leongal
post Apr 21 2010, 01:51 PM

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QUOTE(hi_o_o @ Apr 21 2010, 01:42 PM)
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?
*
1.
# 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?
Need to declare?

I think the tax for that is around 25%
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is the company under the new single tier system? if so, no need

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
hi_o_o
post Apr 21 2010, 01:59 PM

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QUOTE(leongal @ Apr 21 2010, 01:51 PM)
1.
# 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
Thanks for your explanation.

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
leongal
post Apr 21 2010, 02:01 PM

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QUOTE(hi_o_o @ Apr 21 2010, 01:59 PM)
Thanks for your explanation.

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!
*
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)

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