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 Income Tax Issues

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lala01
post Apr 3 2010, 09:21 AM

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QUOTE(attahun @ Apr 3 2010, 01:25 AM)
looks ok..but how does my wife pay the interest? the loan shall be on my own name and i will be paying (as it may seem)..does this term allow me to split the amount of interest to my wife if i feel like it?
*
I'm not very sure on that, but if the S&P is signed by two person, but only YOU paying for the loan amount, I think the interest relief only on you. But pls. correct me if I am wrong.

This is because when LHDN needs any supporting documents or checked in their system, your wife doesn't have the supporting documents that she actually paid for the loan together.

But I'm not 100% confirm on this. I'm just analyzing on the logic side.. haha Anyone can clarify this?


Added on April 3, 2010, 9:22 am
QUOTE(David83 @ Apr 3 2010, 04:28 AM)
They have a new PCB table now. It's different from previous two years ago.
*
Yupe, you can check here: http://www.hasil.gov.my/lhdnv3/documents/p...0PCB%202009.pdf


This post has been edited by lala01: Apr 3 2010, 09:22 AM
stacko
post Apr 3 2010, 01:49 PM

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TaxSaya is a good piece of software to draft calculate income taxes before doing actual e-filing. And it is free.


Added on April 3, 2010, 1:49 pmTaxSaya is a good piece of software to draft calculate income taxes before doing actual e-filing. And it is free.

This post has been edited by stacko: Apr 3 2010, 01:49 PM
eugene jk
post Apr 3 2010, 03:05 PM

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Done.. yey... my company overpaid my Tax and now waiting for refund sad.gif
sherrytam
post Apr 4 2010, 09:33 AM

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QUOTE(zeist @ Apr 2 2010, 06:11 PM)
Hey guys,

I still haven't declare my income tax yet because my earnings last time haven't reached the amount yet but this year I need to do so. I heard there will be a fine upon offender like me.  sweat.gif  How much?

Will be going to the Klang Branch to declare my income tax.

What are the things needed to bring? Do I need to bring passport size photos? Please advise on this.

Another question, normally when do they announce the new income tax relief deduction? The things that we can deduct from (i.e. PC, books and etc.)

I know the recent submission for last year was in Feb, so they will announce the new one in the month of January?

So far I only know about EA and BE forms in this thread. I've just received a EA form from one of my previous company.

Let say in the previous year, I've worked with 2 different company but I only have one EA form, the other didn't send to me. Can I use my pay slip as proof? Or no matter what EA form must be submitted together with BE? And, what if I don't have both EA and pay slip?  ohmy.gif

* An example, let say if a person earning RM6,000 per month, RM72K annually, roughly about how much the person need to pay for tax?

I'm new to income tax.

Thanks.
*
Hi... The fine will based on the shortpay. Normally it will be 10%. If you wish to submit your tax, you must have your tax file first. Once you already have tax file number, even your annual income is not meet the tax submission requirement, you still need to declare with nil tax payment.

You not necessary go to Klang Branch. You can do everything at home by e-filing. If you don't have pin yet, you can email to pin@hasil.gov.my to request the pin number. Even you went to Klang branch, they will only give you the forms and they wun guide you for filing coz Pandah Indah branch is the branch to handle all these tax submission stuff.

If you worked with 2 different company last year, just add up the total 2 annual gross income will do. Yes. Payslip can be the proof.

Annual gross income RM 72k will still deduct some of the rebate like your previous PCB deduction, personal rebate 8k, life insurance+ EPF 6k, medical & education insurance 3k, pc, book, medical check up and so on... try to get the deduction as much as possible. If you only have limited deduction and no PCB deduction last year. Taxable income might come across ~RM 22k. Tax will be around RM 650

I am one of the freelancer helping people to submit for taxation. If you wish to find out more, please call me Sherry 012-2366534


Added on April 4, 2010, 9:38 am
QUOTE(eugene jk @ Apr 3 2010, 03:05 PM)
Done.. yey... my company overpaid my Tax and now waiting for refund sad.gif
*
Their refund is very fast... If you are confirmed for refund, they will send you a letter and informed you. Like me, my submission over deducted RM 1074 but they refund me at RM1120 after confirmation...


Added on April 4, 2010, 9:40 am
QUOTE(David83 @ Apr 3 2010, 04:28 AM)
They have a new PCB table now. It's different from previous two years ago.
*
Yes... The new table 2010 comes out on Mar 2010. Your monthly PCB will lesser than previous...

This post has been edited by sherrytam: Apr 4 2010, 09:40 AM
guanteik
post Apr 4 2010, 07:38 PM

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I think most people get refund for Y2009 rather than paying... agree?
SUSDavid83
post Apr 4 2010, 09:58 PM

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QUOTE(sherrytam @ Apr 4 2010, 09:33 AM)

Added on April 4, 2010, 9:40 am
Yes... The new table 2010 comes out on Mar 2010. Your monthly PCB will lesser than previous...
*
This PCB table is different from the one called Pindaan 2009?
sherrytam
post Apr 4 2010, 10:23 PM

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QUOTE(David83 @ Apr 4 2010, 09:58 PM)
This PCB table is different from the one called Pindaan 2009?
*
Yes... They change without a proper announcement. You need to login LHDN official website oftenly to check out.


Added on April 4, 2010, 10:24 pm
QUOTE(guanteik @ Apr 4 2010, 07:38 PM)
I think most people get refund for Y2009 rather than paying... agree?
*
People now have their better way to pay less tax... rclxms.gif

This post has been edited by sherrytam: Apr 4 2010, 10:24 PM
SUSDavid83
post Apr 4 2010, 10:25 PM

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QUOTE(sherrytam @ Apr 4 2010, 10:23 PM)
Yes... They change without a proper announcement. You need to login LHDN official website oftenly to check out.


Added on April 4, 2010, 10:24 pm
People now have their better way to pay less tax...  rclxms.gif
*
Do you have the link to this latest amendment?

Thank you.
sherrytam
post Apr 4 2010, 10:33 PM

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QUOTE(David83 @ Apr 4 2010, 10:25 PM)
Do you have the link to this latest amendment?

Thank you.
*
http://www.hasil.gov.my/lhdnv3/index.jsp?p...g_title=Majikan
SUSDavid83
post Apr 4 2010, 10:37 PM

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QUOTE(sherrytam @ Apr 4 2010, 10:33 PM)
Thanks pal.

My bracket has a reduction of RM 6 per month. Ha! Ha!
lala01
post Apr 4 2010, 10:51 PM

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» Click to show Spoiler - click again to hide... «


Why they refunded you more? hmm

This is my first time doing declaration, PM investment have to declare or not>? Some of my friends say need, some no need. But I didnt see anywhere to declare in e-filling. Pls advise.

Thanks!
ronnie
post Apr 4 2010, 11:29 PM

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QUOTE(guanteik @ Apr 4 2010, 07:38 PM)
I think most people get refund for Y2009 rather than paying... agree?
*
Nope... I needed to pay because I declared all max on Tax Relief via TP1 form ;-)
guanteik
post Apr 4 2010, 11:30 PM

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@lala01
Yes, u need to declare ur PM investment gross and taxable income
boo82
post Apr 5 2010, 09:01 PM

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hi all.

I just got a question to ask...
My mom has been working in a hotel for the past 15 years.
And within that 15 years, she never done the income tax declarations reason being that she is not taxable.
Unfortunately, she got taxed for this year.So, was wondering, if she declare now, will she get fined?
However, she has already retired for the past 3 years and currently work as a temporary staff.

So, do you think she should declare or just forget about it?
Appreciate for advice on this.

Thanks.

Ern3st
post Apr 5 2010, 09:50 PM

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QUOTE(boo82 @ Apr 5 2010, 09:01 PM)
hi all.

I just got a question to ask...
My mom has been working in a hotel for the past 15 years.
And within that 15 years, she never done the income tax declarations reason being that she is not taxable.
Unfortunately, she got taxed for this year.So, was wondering, if she declare now, will she get fined?
However, she has already retired for the past 3 years and currently work as a temporary staff.

So, do you think she should declare or just forget about it?
Appreciate for advice on this.

Thanks.
*
1st question - The passed 15 years, your mom is not liable to tax or she just dun 1 to pay?

2nd question - What you mean by she taxed this year?

3nd question - Did she declare her income to I.R.B every year even she is not liable for tax?

It is unrelated that whether she is retired.
boo82
post Apr 5 2010, 11:46 PM

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1st Question - her income is less than 2.5k.

2nd Question - her income for last year surpassed 2.5k

3rd question - she didn't declare as she didn't receive the BE form.
SUSDavid83
post Apr 5 2010, 11:47 PM

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QUOTE(boo82 @ Apr 5 2010, 11:46 PM)
1st Question - her income is less than 2.5k.

2nd Question - her income for last year surpassed 2.5k

3rd question - she didn't declare as she didn't receive the BE form.
*
Does the hotel prepare EA statement/form for your mother for the past 15 years?
boo82
post Apr 6 2010, 12:07 AM

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got prepare... but then my dad says can ignore it as her salary is not taxable..

so i am worried that should she do now or just leave it as it is?
if she explained it to the income tax officer, will she be ok?
sherrytam
post Apr 6 2010, 12:08 AM

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QUOTE(lala01 @ Apr 4 2010, 10:51 PM)
» Click to show Spoiler - click again to hide... «


Why they refunded you more? hmm

This is my first time doing declaration, PM investment have to declare or not>? Some of my friends say need, some no need. But I didnt see anywhere to declare in e-filling. Pls advise.

Thanks!
*
What is PM Investment?


Added on April 6, 2010, 12:19 am
QUOTE(boo82 @ Apr 5 2010, 09:01 PM)
hi all.

I just got a question to ask...
My mom has been working in a hotel for the past 15 years.
And within that 15 years, she never done the income tax declarations reason being that she is not taxable.
Unfortunately, she got taxed for this year.So, was wondering, if she declare now, will she get fined?
However, she has already retired for the past 3 years and currently work as a temporary staff.

So, do you think she should declare or just forget about it?
Appreciate for advice on this.

Thanks.
*
Hi... Your mum no need to declare back for the past 15 years...

As long as her tax file is opened this year then she just need to declare starting from this year... Even she don't work temporary for some years after open the tax file, she still need to declare nil salary.

My hubby salary only RM 1500 on year 2000, but there is a month in between 2000, his pay is over the tax limit due to the bonus. The company declare the monthly PCB to him for the month that he got his bonus (only 1 month) and the LHDN automatically open the tax file to him.

He don't declare from year 2001 to 2007 coz his salary <2500. His salary is only >2500 on year 2008. He went to declare last year for income 2008. You know what happen when he try to get BE form YA 2008 from LHDN? The officer passed him 2001 to 2007 form BE and asked him declare even salary is below the limit. He is responsible for the declaration once the file is opened no matter he is entitle for any tax.

So please be careful for this...

This post has been edited by sherrytam: Apr 6 2010, 12:19 AM
boo82
post Apr 6 2010, 12:27 AM

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wow.. sigh..
erm.. so if i help my mom to do the e-filling for the past 15 years, will she be ok then?
basically tomorrow, they will be some income tax officer coming to her work place to do some spot check....

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