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 Income Tax Issues

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nemo2
post Apr 7 2011, 10:50 PM

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QUOTE(Chester @ Apr 7 2011, 09:50 PM)
http://www.nbc.com.my/files/housing-loan-tax-relief.pdf

The notice is really not clear.

Say a joint property.

Total interest paid for the year = RM10,000

Person A claim RM5,000 + Person B claim RM5,000   OR;
Person A claim RM10,000 + Person B claim RM10,000   OR;
Person A claim RM10,000 or Person B claim RM10,000
?
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See whether this will helps. Max relief per year definitely is RM10,000.

If you have 3 person serving interest: A:RM5,000, B:RM3,000, C:RM2,000. Each of them claim according to their portion.

If total interest paid in that year is RM20,000; A:RM10,000, B:RM7,000, C:RM3,000.
A will claim 50% (RM10,000/RM20,000) of the relief -> 50% x RM10,000 = RM5,000;
B will claim 35% (RM7,000/RM20,000) of the relief -> 35% x RM10,000 = RM3,500;
Same basis for C.

This post has been edited by nemo2: Apr 7 2011, 10:58 PM
nemo2
post Apr 7 2011, 11:16 PM

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QUOTE(David83 @ Apr 7 2011, 11:11 PM)
Of course. EA form will have most of the details including No. Rujukan Cukai.
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This one... I think, if we do not furnish income tax reference number to HR, they wont know our no and most likely will not appear in EA form.
nemo2
post Apr 9 2011, 11:32 PM

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QUOTE(chester_85 @ Apr 9 2011, 06:34 PM)
do u guys know where i can get the tax calculator as in excel format like previous years?
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Why not using e-filing? The e-form itself is a calculator.
nemo2
post Apr 11 2011, 12:34 AM

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QUOTE(Scissorshand @ Apr 10 2011, 04:42 PM)
Btw wanna ask, is Transport Allowance exempted from tax? If so, what's the max allowable? Thanks!
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yes, provided it was stated in your EA form.
nemo2
post Apr 13 2011, 02:24 AM

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@ 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...


nemo2
post Apr 13 2011, 11:42 AM

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QUOTE(ronnie @ Apr 13 2011, 08:36 AM)
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
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Just to share my view. The spirit of this relief given by the Malaysian government is to encourage people to do more sports. And if you ask me, for a marathon runner, what is more important than having a pair of shoes?

I'm not asking people to claim all possible tax relief, just that in this instance, we are discussing an example for marathon runner. If im a marathon runner, i think shoes is very important to me. And, there is no clear definition of "equipment" by income tax.


Added on April 13, 2011, 11:49 am
QUOTE(vin_ann @ Apr 13 2011, 10:18 AM)
Btw, just to share my last experience with E-Filling.

I forget my "kata laluan". So i called the IRB customer service.

She teach me: go to "lupa Kata Laluan" and click.

you have to enter your IC number without dash and you type

"password" in the password colunm and press Hantar.

After that, you will be lead to change new password.

and its DONE!
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Wah... must try this!

This post has been edited by nemo2: Apr 13 2011, 11:49 AM
nemo2
post Apr 14 2011, 06:58 PM

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Since we're doing tax return for YA2010, why not attach the YA2010 version of explanatory note?
nemo2
post Apr 16 2011, 10:58 AM

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QUOTE(500Kmission @ Apr 16 2011, 02:14 AM)
But if you evidence follow the act and regulation, they sure will surrender. I know that because my boss have brought the act and regulation to shot the income tax officer who try to dig everyway to get tax, end up she and her team surrender and simply tax our client few hundred tax which start from hundred thousand tax need to pay.
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Yeah, sometimes the interpretation by those officers was not in line with the act and regulation. Don't be afraid to challenge them if you think you are right!
nemo2
post Apr 16 2011, 08:52 PM

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No deduction for SOCSO. For insurance, you should be able to know how much for life, medical or education based on the annual statement given by your insurance co.
nemo2
post Apr 24 2011, 11:32 PM

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QUOTE(Aeon_Clock @ Apr 24 2011, 10:29 PM)
new company, no HR yet. I'm creating my own to submit.
coz companies dun need to submit as early as us.
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In that case, have you register and get the nombor majikan for tax purposes? You will hv to state that in the EA form.
nemo2
post Apr 25 2011, 01:32 PM

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QUOTE(Aeon_Clock @ Apr 24 2011, 11:54 PM)
to register e-filing...I need the EA form in the first place
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to complete your EA form, you will need your company's nombor majikan.. "E xxx".
nemo2
post Apr 30 2011, 03:55 PM

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QUOTE(frontierzone @ Apr 30 2011, 02:13 PM)
Hi guys, just wanna ask, for bonus and allowance, do we key that as "Apa-apa perolehan atau keuntungan lain" in e-filing or add it to the "Penggajian" as one single amount?

Thanks rclxms.gif
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Penggajian as one single amount. Better be fast, today is last day.


Added on April 30, 2011, 3:58 pm
QUOTE(terzam @ Apr 30 2011, 03:15 PM)
Clueless. My first tax filling!~
I e-submitted without knowing, and I think there's no possible e-amendments.
Question - for refunds, will it be automatically calculated?
I was working in KL for 5 months, and yet, the system says I still have to pay additional taxes? How is that possible? I was hoping for a refund!
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Whether it is refund or not, it depends on your annual income and the entitled relief. Assuming the system computed correctly, you hv to pay the tax accordingly.

This post has been edited by nemo2: Apr 30 2011, 03:58 PM
nemo2
post May 13 2011, 05:28 PM

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QUOTE(VashTheStampede @ May 13 2011, 01:46 PM)
Hello, can someone assist me please? smile.gif
Today I've received a letter from LHDN, but as I'm not so great in BM, I'm not really certain on what exactly they want me to submit. The letter essentially says this :

They're asking for a Pengesahan Potongan Cukai Berjadual (PCB)/Bayaran,
and i've been asked for the following documents :-
(It's exactly as it looks like in the letter, with the X's and the boxes and the last one not being X'd)

[ x ] Salinan slip gaji untuk bulan @SALINAN PENYATA PENDAPATAN (EA/EC) Bagi Tahun 2009

[ x ] Surat pengesahan daripada majikan bekenaan potongan yang telah dibuat dalan tahun 2009 (Penyata dilampirkan)

[    ] Salinan Resit Pembayaran bagi ___________

There's a second page and it's basically a table with the title at the top  Penyata Bayaran Cukai Oleh Majikan.
It's one hell of a big empty table so I'm a bit apprehensive now!
Help??
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Let me guess. Income tax is asking:

(i) The year statement for your salary income (they call it EA form) which was issued by your HR department, for year 2009.
(ii) The records of tax deduction, which was deducted from your monthly salary by your HR deparment in year 2009. Normally, this records will hv info like: which month, amounts and the official receipt numbers, which was signed by your HR.

Just check with your HR department again in case you have misplace the above.

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