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 Income Tax Issues

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lexiqa
post Apr 22 2011, 03:25 AM

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QUOTE(creativ @ Apr 21 2011, 02:59 PM)
Yes. Children's Bicycle under Sports Equipment. Is it exempted?

My children use it for recreation but not for an offical sport like racing, just like some of us play badminton, tenis for recreation and not a sport competition.  hmm.gif

By startng young, maybe someday in future they will represent the country in pro cycling.  smile.gif

The bikes I bought are trainer bikes for children.

http://littleriders.com.my/LittleRiders-JDBUG.html

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The sports equipment includes equipment with short lifespan such as golf balls and shuttlecocks, but excluding sports attire e.g. swimsuits and sports shoes.

So what are the activities considered and defined as sports in the Sports Development Act 1997? Here is the list:

Archery
Athletics
Aquatics
Automobile Sports
Badminton
Basketball
Billiards and Snooker
Body Building
Bowling
Boxing
Cricket
Cycling
Equestrian Sports
Fencing
Foolball
Golf
Gymnastics
Handball
Hockey
Judo
Karate Do
Lawn Bowls
Netball
Rugby
Sepak Takraw
Shooting
Silat Olahraga
Soft Tennis
Softball
Squash
Table Tennis
Tae kwan do
Tennis
Volleyball
Waterski
Weightlifting
Wrestling
Wushu
Yachting

Reference: Sports Development Act 1997

http://thestar.com.my/news/story.asp?file=...27810&sec=focus


Added on April 22, 2011, 3:27 am
QUOTE(penangmee @ Apr 21 2011, 11:33 PM)
Yours should be berasingan lah. Your wife income is not liable for tax and NOT tax exempted. Of course you cannot claim the RM3000.00 coz your wife will be claiming her own RM9000 relief thats why her tax payable = RM0.00 yawn.gif

Normally Berasingan is the option if spouse income is > RM 3000 per annum
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if ur wife doesn't have her own income, like what Penangmee said, then it's best to do together. if not, do berasingan so she can also max her reliefs.

This post has been edited by lexiqa: Apr 22 2011, 03:27 AM
z3171600
post Apr 22 2011, 08:47 AM

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Guys, how long it take for us to receive the tax money if we overpaid? My company paid first for me, and I claim back and Im entitled to get back RM500++..

I did it with my gf last month (24/3/2011) and she already received her 3 days ago. But I have yet to receive mine. But this is my first time since I just started working last year but she's been working for few years already. Could that be the case? Or should I check with LHDN? Any number that I can call?
lexiqa
post Apr 22 2011, 06:52 PM

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check LHDN website lor

zzzzz
SUSDavid83
post Apr 23 2011, 11:30 AM

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Use this site:

https://elejar.hasil.gov.my/
~butter
post Apr 24 2011, 08:50 PM

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I have got quite a good bonus last year and I quit my job to go on a sabbatical while looking for job overseas. I filled my income tax in March, and they sent me a mail saying that they are checking for irregularities (tax refund >RM2k). However, I will be starting my new job overseas sometime in June. How soon can I expect the income tax dept to get back to me (did e-filing)? Should I call them up to tell them about my situation, so they will quicken my tax refund or schedule an interview?
Aeon_Clock
post Apr 24 2011, 09:20 PM

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does anyone know where I can get soft copy of EA form? I need to submit this year.
SUSDavid83
post Apr 24 2011, 09:59 PM

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QUOTE(Aeon_Clock @ Apr 24 2011, 09:20 PM)
does anyone know where I can get soft copy of EA form? I need to submit this year.
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You have to refer back to your company HR right?
protonw
post Apr 24 2011, 10:02 PM

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QUOTE(protonw @ Apr 19 2011, 03:37 PM)
I filed e-filing end of March and went to Jalan Duta yesterday for other matters and was casually asking about the status of my refund and was shown their system that they have just review my file and I should be expecting my cheque in the next one week.

Hope it will come ASAP to buy more shares...  laugh.gif
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I e-filed 30 March, cheque received dated 20 April and in my mail box 22 April. Looks like they dont bank for those using Maybank. sad.gif
Aeon_Clock
post Apr 24 2011, 10:29 PM

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new company, no HR yet. I'm creating my own to submit.
coz companies dun need to submit as early as us.
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.
Aeon_Clock
post Apr 24 2011, 11:54 PM

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to register e-filing...I need the EA form in the first place
penangmee
post Apr 25 2011, 12:28 AM

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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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http://www.hasil.gov.my/goindex.php?jboran...osi=1&Submit=Go
Aeon_Clock
post Apr 25 2011, 01:23 AM

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cool! Thanks.
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
berzerk
post Apr 25 2011, 10:00 AM

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Dear wise forum,

For Year 2010 Tax Relief for Resident Individual, what is the difference between the different reliefs for insurance.
The LHDN site states

#20. Life insurance dan EPF, gets a 6,000 tax relief

#21 Premium on new annuity scheme or additional premium paid on existing annuity scheme commencing payment from 01/01/2010 (amount exceeding RM1,000 can be claimed together with life insurance premium)
gets a 1,000 tax relief

#22 Insurance premium for education or medical benefit, gets a 3,000 relief.

What is the difference between the Life insurance from #20 & #21?
surphyn
post Apr 25 2011, 10:39 AM

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Hi all!

i like to know is there any eligible to have tax rebate for " hand wrap" as in pic:

This post has been edited by surphyn: Apr 25 2011, 10:41 AM


Attached thumbnail(s)
Attached Image
alwiser
post Apr 25 2011, 01:02 PM

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Where can I get No.PIN from, this is or login to e-filling?

I registered at e-daftar and it says that my application is approved but no PIN.

This post has been edited by alwiser: Apr 25 2011, 01:02 PM
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".
jusco1
post Apr 25 2011, 01:56 PM

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can i claim my parents medical insurance premium under parents medical claim?
thanks
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...

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