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 Income Tax Issues

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imax80
post Apr 16 2011, 10:56 PM

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LHDN already refund my money, bank into my maybank acct biggrin.gif
500Kmission
post Apr 17 2011, 05:03 AM

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QUOTE(imax80 @ Apr 16 2011, 10:56 PM)
LHDN already refund my money, bank into my maybank acct  biggrin.gif
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congratuation. can you tell us when you submit the form?
CyberKewl
post Apr 17 2011, 10:30 AM

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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
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
CyberKewl
post Apr 17 2011, 01:12 PM

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QUOTE(ronnie @ Apr 17 2011, 11:01 AM)
If file separately, just claim RM3000 per person. But of course cannot share the same receipt ok ?
You need to buy 2 notebooks/PCs
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OK understand. Thx for clarification
loanneeded
post Apr 17 2011, 04:36 PM

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Insurans nyawa dan KWSP .
is it the total of monthly insurance payment? or the insured total?
deodorant
post Apr 17 2011, 04:49 PM

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QUOTE(loanneeded @ Apr 17 2011, 04:36 PM)
Insurans nyawa dan KWSP .
is it the total of monthly insurance payment? or the insured total?

the total of insurance payment paid for the year lah. your insurance company would have sent you yearly statement, you use that figure.
SUSDavid83
post Apr 17 2011, 05:03 PM

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Annual figure of the premium paid; not the sum insured by the policy.
aliciaqsp
post Apr 17 2011, 05:27 PM

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http://financialindependent.blogspot.com/2...al-illness.html

useful info

Yow Chuan said...
For most whole-life critical illness policy, you are only entitled up to 60% of the total premium for medical claim, while the remaining 40% is to be relieved from the Whole-life+EPF section.

For example, if the total premium you're paying for your whole-life critical illness policy is RM4,000, you can only claim up to RM2,400 for the Medical+Education Section (max is RM3,000).

The remaining RM1,600 is to be relieved under Whole-life+EPF section, if still available. (Maximum is RM6,000).
loanneeded
post Apr 17 2011, 09:14 PM

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how can i pay income tax using maybank2u?

in the screen here , choose Jenis Bayaran Bayaran Cukai Pendapatan (tidak termasuk skim ansuran) ?

This post has been edited by loanneeded: Apr 17 2011, 09:16 PM
SUSDavid83
post Apr 17 2011, 09:15 PM

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QUOTE(loanneeded @ Apr 17 2011, 09:14 PM)
how can i pay income tax using maybank2u?
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Try this:

http://www.maybank2u.com.my/mbb_info/m2u/p...d=/mbb/Personal
loanneeded
post Apr 17 2011, 09:33 PM

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what is installment number when paying through maybank2u?
payment code should be bayaran cukai pendapatan (tiada ansuran)?


Added on April 17, 2011, 9:35 pmok, nvm .

it say • Please key-in zero in your installment number if it is not applicable.

This post has been edited by loanneeded: Apr 17 2011, 09:35 PM
SUSDavid83
post Apr 17 2011, 09:37 PM

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QUOTE(loanneeded @ Apr 17 2011, 09:33 PM)
what is installment number when paying through maybank2u?
payment code should be bayaran cukai pendapatan (tiada ansuran)?


Added on April 17, 2011, 9:35 pmok, nvm .

it say • Please key-in zero in your installment number if it is not applicable.
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If you select Payment code 095, the installment number is greyed off (99).
500Kmission
post Apr 18 2011, 12:03 AM

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According to income tax act 1967 S113(2), the penalty for omission or understatement of income is 100% of the tax undercharged. Does it mean if the person omit to declare RM100K revenue, the tax penalty is RM100K?
wattq
post Apr 18 2011, 04:48 AM, updated 15y ago

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Dear Sir/Madam,

maybe you can help me out about my issue....

i am a malaysian and i heard in malaysia there's a rules by bank negara to encourage money made below RM 5mil from oversea can bring back to malaysia without needing to declare tax, is this true ? if do, can i know the detail condition/limit ?

i am making RM20-30k monthly (200-300k/year) from online business and wonder if can wire back to malaysia without payign tax?

is the RM 5mil per year or RM 5mil limit for lifetime for a name???

and what procedure should i go thru ? or who should i contact to start [i read on somewhere, we need to go bank negara to get a FORM and declare but i dont know what form is that, maybe you can advise me about what exact form is that?]

sorry if i have email the wrong person for help ... maybe if u know someone who can help me out ?

thank you

Watt



borneosailor
post Apr 18 2011, 06:20 AM

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I work offshore overseas and the Lembaga Hasil Dalam Negeri office told me that earnings earned outside malaysia is exempted from income tax.

Your online buisness isnt registered in Malaysia is it? if yes, there is high probablity u may have to pay income tax.

maybe u can try wiring the money in small amounts weekly to avoid detection?
daron
post Apr 18 2011, 10:30 AM

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for the housing loan interest, do we claim the interest charged or interest paid?
I am asking this because my loan started in midyear, so barely got to rm10k. The statement cuts off at Dec 2010 but the payment for december is in January. So say the last payment is 2k. Do i claim 8k (paid in 2010 although i did pay for the Dec in Jan 2011) or 10k (interests charged in 2010)?

Anyone knows? I tried calling IRB but the lines can't get thru anyone.
labtec
post Apr 18 2011, 11:05 AM

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what is teh difference betweent these 2?
084 Tax Instalment Payment - Individual
095 Income Tax Payment (excluding instalment scheme)


Added on April 18, 2011, 11:07 amand if using maybank online payment, it will ask to choose
bayaran cukai or penyelesaian cukai

which one to choose? why so confusing one............

This post has been edited by labtec: Apr 18 2011, 11:07 AM
sidanos
post Apr 18 2011, 12:00 PM

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What is the main difference when submitting under my own name vs with spouse?
Under what circumstances is one better than the other?
I checked both, and somehow the amount that needs to be paid differs a lot, but I think the input is the same.
hyzam1212
post Apr 18 2011, 12:14 PM

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Anybody knows whether clothes and shoes
using for sports can be considered as sports equipment or not? Just asking

Sorry found the answer ady

This post has been edited by hyzam1212: Apr 18 2011, 12:16 PM

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