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 Income Tax Issues

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asanthadenz
post Apr 14 2011, 01:47 PM

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slightly confused with using that form, could someone help calculate this for me please.

Salary: 45,238.10
Bonus + Allowance: 10,600

Total: 55.838.10

Company payed tax: 2444.00

I will only claim internet which is 500.00

So how much do i have to pay or claim from Income Tax

Thank you
asanthadenz
post Apr 14 2011, 01:54 PM

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QUOTE(Brother_phillips @ Apr 14 2011, 01:51 PM)
If u use the online tax system, i think it should help u to calculate right ? u dont need to commit the information but as u enter and proceed to the last page, it should advice u
*
thank you for your help, it's just that all the calculators i find online are in malay and i have a hard time understanding it.


vreis
post Apr 14 2011, 02:12 PM

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QUOTE(asanthadenz @ Apr 14 2011, 01:54 PM)
thank you for your help, it's just that all the calculators i find online are in malay and i have a hard time understanding it.
*
Actually as mentioned u can key in into e-BE, it'll calculates out the necessary info. There's English inside as well
cute_boboi
post Apr 14 2011, 03:23 PM

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vin_ann,

Refer attached PDF, item D8C (page 6/12)

D8C PURCHASE OF SPORTS EQUIPMENT
QUOTE
An amount limited to a maximum of RM300 is deductible in respect of expenses expended
by the individual for the purchase of sports equipment for any sports activity as defined
under the Sports Development Act 1997. Sports equipment includes equipment with short
lifespan e.g. golf balls and shuttlecocks but excluding sports attire, e.g. swimsuits and
sports shoes.


I got this document from LHDN/Hasil website in Mar 2009 (for Year of Assessment 2008). However, when I try to find this document in current LHDN website, it is not there, except this (item #11).

Therefore, assuming no changes since then, sports attire are not eligible for tax relief.



Attached File(s)
Attached File  Explanatory_Notes_BE_2008.pdf ( 185.34k ) Number of downloads: 3813
500Kmission
post Apr 14 2011, 03:27 PM

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Note: If your tax rate reach to HIGH LEVEL, you can consider following expense to earn % you pay,
1. Parent medical exp, medical check up, EPF, life insurance, medical insurance, sport equipment.
2. PTPTN - Max RM3000 (i.e. RM250/mth). You can earn % on tax + PTPTN interest % = total %.
3. Computer - claim one time every 3 years.


Note: If your tax rate at LOW LEVEL, you shd declare dividend income, because tax on the dividend can get back by declare it.
cute_boboi
post Apr 14 2011, 03:28 PM

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Uploaded the BM version as well:

D8C PEMBELIAN PERALATAN SUKAN UNTUK AKTIVITI SUKAN
QUOTE
Potongan cukai sebanyak RM300 diberi atas pembelian peralatan sukan yang dilakukan
oleh individu untuk aktiviti sukan mengikut jenis sukan yang disenaraikan dalam Akta
Pembangunan Sukan 1997. Peralatan sukan termasuk alat-alat yang mempunyai jangka
hayat yang singkat seperti bola golf dan bulu tangkis tetapi tidak termasuk pakaian sukan,
contoh: pakaian renang dan kasut sukan. Perenggan 46(1)(l)


Attached File(s)
Attached File  Nota_Penerangan_BE_2008.pdf ( 212.61k ) Number of downloads: 206
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?
shadow_dweller
post Apr 14 2011, 08:23 PM

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Or you may find the explanatory notes from the IRB website here. Go to Borang -> Individu -> 2010

http://www.hasil.gov.my/goindex.php?jboran...osi=1&Submit=Go
SUSDavid83
post Apr 14 2011, 09:43 PM

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Because the sports equipment relief was introduced back in 2008. So the explanatory note is still valid until today as there's no refinement on that relief.
Shinichi
post Apr 14 2011, 11:15 PM

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QUOTE(cute_boboi @ Apr 14 2011, 03:23 PM)
vin_ann,

Refer attached PDF, item D8C (page 6/12)

D8C PURCHASE OF SPORTS EQUIPMENT
I got this document from LHDN/Hasil website in Mar 2009 (for Year of Assessment 2008). However, when I try to find this document in current LHDN website, it is not there, except this (item #11).

Therefore, assuming no changes since then, sports attire are not eligible for tax relief.
*
Mean racket is eligible for claim... gonna find them when I free ask where is my rebate...
SUSDavid83
post Apr 14 2011, 11:51 PM

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QUOTE(Shinichi @ Apr 14 2011, 11:15 PM)
Mean racket is eligible for claim... gonna find them when I free ask where is my rebate...
*
Racquet and its consumable are entitled for relief claim such as tennis ball, squash ball, shuttlecocks and etc.
a-ei-a
post Apr 15 2011, 08:35 AM

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QUOTE(ronnie @ Apr 13 2011, 11:28 PM)
Mean if I open SSPN also not entitled for tax rebate.. sad.gif
shadow_dweller
post Apr 15 2011, 08:48 AM

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QUOTE(Shinichi @ Apr 14 2011, 11:15 PM)
Mean racket is eligible for claim... gonna find them when I free ask where is my rebate...
*
Yes, racquets, and short life span items like golfballs, tennis balls and shuttle cocks are entitled for claims. The exception is for sports attire, swimming suit, sport shoes.
ssek76
post Apr 15 2011, 08:25 PM

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QUOTE(a-ei-a @ Apr 15 2011, 08:35 AM)
Mean if I open SSPN also not entitled for tax rebate..  sad.gif
*
Yes ! So get married and have kids. u can open SSPN for them and get rebate tongue.gif


Added on April 15, 2011, 8:31 pmBTW, just done my e-filing. Finally i give up the "Differ Anuity". Personnal visit income tax today, pening with their explaination. One don know wht is it and just brought me pusing2, One said is the unit trust u bought thru KWSP rclxub.gif
Haha, if let say one day they select u to audit and they do not agree with ur "evidence" and charge u, lagi pening ! doh.gif

This post has been edited by ssek76: Apr 15 2011, 08:31 PM
nameeh
post Apr 15 2011, 11:44 PM

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nvm.. found d answer smile.gif

This post has been edited by nameeh: Apr 15 2011, 11:47 PM
500Kmission
post Apr 16 2011, 02:14 AM

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QUOTE(ssek76 @ Apr 15 2011, 08:25 PM)
Yes ! So get married and have kids. u can open SSPN for them and get rebate  tongue.gif


Added on April 15, 2011, 8:31 pmBTW, just done my e-filing. Finally i give up the "Differ Anuity". Personnal visit income tax today, pening with their explaination. One don know wht is it and just brought me pusing2, One said is the unit trust u bought thru KWSP rclxub.gif
Haha, if let say one day they select u to audit and they do not agree with ur "evidence" and charge u, lagi pening ! doh.gif
*
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.
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.
*
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!
knight
post Apr 16 2011, 08:10 PM

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Hi Guys, mind if I ask something here?

I'm bit confuse with this two. Mind to explain?

Insurans nyawa dan KWSP
(Life insurance and provident fund)

Insurans pendidikan dan perubatan
(Education and medical insurance)


Does this means SOCSO and also our personal Life insurance can be put under this section? How about Medical insurance? Is this medical card? My medical card are bind together with my life insurance. How to seperate, I don't know.
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.
knight
post Apr 16 2011, 09:05 PM

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is it?? I never receive the annual statement before. Sigh..means I need to make a trip to get it..too bad I'm not around to do so...Ouch!!


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