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 Income Tax Issues

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cherroy
post Feb 15 2011, 04:18 PM

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QUOTE(jady @ Feb 14 2011, 11:08 PM)
I would like to ask;

Lets say I owe RM1200 (for tax b4 year 2008) & LHDN give me 'Notis Bayaran Ansuran' for 6 months, each month RM200. I paid for 3 months.. and at that time latest tax declaration (for year 2009) shows I overpaid RM600 tax. Do I still need to continue to pay the 'Notis Bayaran Ansuran'?
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As far as I know, you still need to pay the installment.

IRB treat issue one by one.
You cannot use overpaid tax to offset another year of assessment.

Correct me if I am wrong.
cherroy
post Feb 16 2011, 03:50 PM

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QUOTE(arsenal @ Feb 16 2011, 02:27 PM)
Hi friends,

Need your help.

(i) Can graduation fess consider as education fees? How about exam fee that paid in 2009 for 2010 exam? I paid all my fees iun 2009 and there is no receipt for 2010 for education fee except graduation fees.
(ii) I subscribed to Digi Data Plan. Is this consider broadband rebate? It uses 3G, which is under broadband network.

Thanks
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ii) 3G is considered a broadband service, keep your monthly statement as a proof.
It is a relief, not rebate.

QUOTE(ronnie @ Feb 16 2011, 03:10 PM)
arsenal: Yes to question (ii). I think you can get a tax relief statement from Digi
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I don't think Digi will issue those kind of statement, correct me if I am wrong.
cherroy
post Feb 16 2011, 04:38 PM

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QUOTE(arsenal @ Feb 16 2011, 04:34 PM)
Thanks ronnie and cherroy...What is difference between relief and rebate? if let say i have broadband amount of 300 ringgit. Can I claim 300 or max: 500 for the broadband relief?
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You can claim RM300 only.

Relief -- reduced your taxable gross income (before x the % rate).

Rebate --> Your total tax need to be paid = tax on taxable income - rebate.
cherroy
post Feb 24 2011, 11:17 PM

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QUOTE(mp3 @ Feb 24 2011, 06:36 PM)
It seem you have to call Digi up and get them to send the broadband statement to your house.
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Have to pay or not?
Nowadays, hardcopy monthly bill will be charged.
cherroy
post Mar 12 2011, 04:32 PM

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QUOTE(Human Nature @ Mar 12 2011, 03:50 PM)
Hi,
I received an email from refund-payment@hasil.gov.my with the following subject title "New email message from Inland Revenue Board of Malaysia !" and a link directing me to a website with the following message (print screen is also atatched):
I would like to know if anyone else has similar experience. It looks a little strange because it requires me to login to cimb/public bank online banking site to continue. Wondering if this is those phishing activities. Any advise? Thanks
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Rule of thumb, Do not click any email linked website.

LHDN doesn't need your banking info to log into their E-filling portal.

This is pretty old news already.
http://forum.lowyat.net/topic/1562261
http://thestar.com.my/news/story.asp?file=...1812&sec=nation
cherroy
post Mar 13 2011, 03:40 PM

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QUOTE(cloud2000 @ Mar 13 2011, 03:11 PM)
dental receipts can be use as tax relief?
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Since when dental fee has any tax relief?

Answer is no.
cherroy
post Apr 2 2011, 03:29 PM

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QUOTE(chong82 @ Apr 2 2011, 01:53 PM)
i utilize the RM3000 tax relief for personal computer this year, what happen if i sold the computer next year, or 3 years after?
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The tax relief is for when you bought time/that year.
Whether you bought and sold it or throw it away afterwards, doesn't relate.
cherroy
post Apr 6 2011, 08:56 PM

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QUOTE(frontierzone @ Apr 6 2011, 07:36 AM)
Hi, if I have purchase a PC in say 2008 but did not claim for any tax relief, can I do put this as a relief in this coming submission?
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No.
It is on year assessment basic.


cherroy
post Apr 20 2011, 02:32 PM

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QUOTE(arsenal @ Apr 20 2011, 01:12 PM)
hi people,

I read in the website that we can claim 60% of life insurance + critical illness inside the medical/insurance claim. It is correct?
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Medical is medical
Life is life.

The relief is totally separated, cannot be mixed.

Life insurance + EPF total relief can be claimed is Rm6,000
Medical/education insurance total relief can be claimed is RM3,000
cherroy
post Apr 20 2011, 02:58 PM

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QUOTE(arsenal @ Apr 20 2011, 02:34 PM)
Every year, the insurance company will send you the tax statement on your insurance, which already being classified which is which.
cherroy
post Apr 28 2011, 12:15 AM

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QUOTE(Dannyl @ Apr 27 2011, 07:49 PM)
Ok, unit trust dividends.  Year end 2010, payment date 2011, so this should be in tax for 2010 or 2011?
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2011, it is always based on the payment date.
cherroy
post Apr 28 2011, 09:44 AM

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For any kind of dividend, normally it was accompanied by dividend voucher stated it was taxed already, or stated it was tax exempted.
cherroy
post Apr 29 2011, 09:30 PM

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QUOTE(deodorant @ Apr 28 2011, 05:47 PM)
let's say you earned 100k in 2010, and you paid 10k for your professional certification, you'd put 90k as your income in your declaration.
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QUOTE(vin_ann @ Apr 29 2011, 10:01 AM)
Yes. i put my net employment income after deducting my ACCA annual fees...!
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Is any act said, you can declare like this?? hmm.gif rclxub.gif

cherroy
post Apr 30 2011, 01:20 AM

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QUOTE(penangmee @ Apr 30 2011, 12:10 AM)
In general -Section 33

Extract from  H K - 2  :  C O M P U TAT I O N  O F  S TAT U T O  RY  I N C O M E  F R O M  E M P L O Y M E N T

F. TOTAL GROSS EMPLOYMENT INCOME (A to E)
LESS:
G. Subscriptions to professional bodies brows.gif
H. Entertainment expenditure
(restricted—section 38A)
J. Travelling expenditure

sos
http://www.hasil.gov.my/pdf/pdfam/BE2010_Guidebook_2.pdf
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QUOTE(penangmee @ Apr 28 2011, 11:28 PM)
6.1.5 Further education fees - para. 46(1)(f) ITA
Total deduction: up to a maximum of RM5,000.

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Rm5,000?

But we got forumersdeducted Rm10,000.

Which is which now?

cherroy
post Apr 30 2011, 02:42 PM

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QUOTE(penangmee @ Apr 30 2011, 02:06 PM)
Go thru the Guide properly. vmad.gif  Prof SUBSCRIPTIONS have no limit- deduct from gross employment directly.

Education fees are completely different. This is to improve your academic qualifications, The deduction are in
D5 of the BE form. If you are unable to spot the difference  doh.gif , fork out and pay for profesional services from tax agent. thumbup.gif
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Just to get clarification on this issue.

It is not applied on my side, or (those relief is not applicable on my side) so noob in this issue.
Just want to know and clarify. smile.gif

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