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 Income Tax Issues

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ronnie
post Apr 12 2011, 09:30 AM

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QUOTE(Kaitlyn @ Apr 12 2011, 09:28 AM)
Hi,

Wanna ask an question here. Let say I bought a house last end of year, but now the in progressing 3+1 months procedures. By right there is no tax relief for purchase of residential property since instalment not started yet.
But last year I have been spent alot on legal fee, is there any way to relief this legal fee amount? Cause I'm feel like this year I really didn't gain much after deduct from expenditure, and right now have to pay tax  rclxub.gif

Sorry for the silly question here..
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Short & Simple Answer : No
ronnie
post Apr 13 2011, 08:36 AM

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QUOTE(nemo2 @ Apr 13 2011, 02:24 AM)
@ vin_ann

If i were you, i will claim. In the event that income tax question me on the deduction, i will negotiate and appeal. If still not allowed, just forget it since the saving (RM300 x 25%) is not much.

If no one question me... then keep silent lor...
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Bad advice.... if everyone will do like you say, then everyone can practically claim all the tax relief possible, right ?

My take on the sports equipment : it must be an item from the sports in which if you remove it, it no longer becomes that sports.
Eg.
Shuttlecocks: without it how to play badminton ?
Racquets: without it how to play badminton/tennis/squash/.... ?

BUT without shoes, can you still run the marathon ? BUT without swimming suit, can you still swim ?
- The answer is YES, thus you cannot claim these items



ronnie
post Apr 13 2011, 08:56 AM

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QUOTE(Nepo @ Apr 13 2011, 08:44 AM)
Please don't just simply assumed for any tax law. Since it is written in black and white and without backed by further note or explanation, it is not deductible item in respect to sport shoe. Just my 2 cents.
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AGREE !!! but should have quote nemo2's reply and not mine...
ronnie
post Apr 13 2011, 11:28 PM

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http://www.ptptn.gov.my/web/guest/simpanan/cukai

QUOTE
Pelepasan cukai pendapatan ke atas simpanan SSPN:

Ibu bapa dan ibu bapa angkat/penjaga yang sah dari segi undang-undang yang menyimpan dalam akaun SSPN untuk manfaat anak diberi pelepasan sehingga maksimum RM3,000 setahun tertakluk kepada jumlah simpanan bersih tahun semasa;
Ibu bapa yang membuat taksiran berasingan dan telah membuka akaun simpanan SSPN berasingan atas anak yang sama diberikan pelepasan sehingga maksimum RM3,000 seorang setahun;
Ibu bapa yang membuat taksiran bersama dan telah membuka akaun simpanan SSPN berasingan diberi pelepasan sehingga maksimum RM3,000 setahun; dan
Individu yang menyimpan untuk diri sendiri tidak diberi pelepasan cukai.
ronnie
post Apr 14 2011, 10:24 AM

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QUOTE(soul2soul @ Apr 14 2011, 10:19 AM)
do we have to declare our income from AS1M, FD interest?
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Those interest income is tax free
ronnie
post Apr 17 2011, 11:01 AM

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QUOTE(CyberKewl @ Apr 17 2011, 10:30 AM)
today's thestar online has a post like this:

"Is the computer relief Pembelian Komputer Peribadi untuk Individu usable by both myself and wife (RM3,000 each) at the same time if we file separately"

Answer: You and your wife can claim the relief which is restricted to RM3,000. This relief is allowed once every three years.

---

Question: Does this mean if you're married you can only get 3000 maximum out of 2 person or per person (max of 6000, meaning 3k per person) for every 3 years? The answer is not a direct one and appears to be confusing.

Source: http://thestar.com.my/news/story.asp?file=...4144&sec=nation
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If file separately, just claim RM3000 per person. But of course cannot share the same receipt ok ?
You need to buy 2 notebooks/PCs

This post has been edited by ronnie: Apr 17 2011, 11:05 AM
ronnie
post Apr 25 2011, 08:34 AM

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QUOTE(penangmee @ Mar 6 2011, 03:20 PM)
REfer to IRD public ruling 1/2005 para 7.3.23 example 22.

As Jothy has elected for combined  assessment with Raj, the amount of
insurance premium and EPF contribution paid by Jothy is deemed to have
been paid by Raj
- (paragraph 50(2)(a) and subsection 50(3) ITA).
Therefore, Raj is deemed to have paid an amount of  RM21,300 + RM4,800
= RM26,100. However, he is entitled to a deduction of only RM5,000.

IRB ruling considered superior to MIA publication
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This seem to contradict the article in The Star (24 April 2011)

QUOTE
> Since I am not working, my husband pays for my insurance policy. Can he claim this against the education and medical insurance relief?

Your husband is not allowed to claim deduction for the premium payment on education or medical insurance if the receipts are issued under your name.

URL: http://thestar.com.my/news/story.asp?file=...6431&sec=nation
Answers provided by a team from Inland Revenue Board's Corporate Communications Unit headed by director Mazlan Wan Chik answers your questions.

This post has been edited by ronnie: Apr 25 2011, 08:36 AM
ronnie
post Apr 25 2011, 02:03 PM

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QUOTE(jusco1 @ Apr 25 2011, 01:56 PM)
can i claim my parents medical insurance premium under parents medical claim?
thanks
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No...
ronnie
post Apr 26 2011, 09:43 AM

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QUOTE(hyzam1212 @ Apr 26 2011, 09:38 AM)
Is it true that refund thru Maybank will have problems? I am using that only though hmm.gif
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LHDN will send you a cheque... if you are entitled to a refund.

This post has been edited by ronnie: Apr 26 2011, 09:43 AM
ronnie
post Apr 26 2011, 10:03 PM

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QUOTE(m a v 3 r i c k @ Apr 26 2011, 09:52 PM)
Hi guys,
Need some help here.
I've got the same scenario as "dude831126".
I have joined another company in August 2010.
So how should I go about filling in the BE form?
Should I put my current company's "No Majikan" or my previous company's?
Thanks.
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Put the latest employer's number... will do.
ronnie
post Apr 28 2011, 07:47 AM

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QUOTE(Dannyl @ Apr 27 2011, 11:51 AM)
I signed up for TM e-statement.  Can only access the last 6 months' statements from the website.  Wanted to print at TM Point, but was first told it requires RM5, then told it is not possible, then finally they sent me some kind of payment statement for all of 2010.  Very troublesome.  Who knew trying to go green could lead to so much troubles...
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How to request for such statement ? What is the statement called ?
ronnie
post May 23 2011, 03:06 PM

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Donations is from the heart.... tax relief is secondary, right ?

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