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 Income Tax Issues

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arsenal
post Jan 11 2011, 01:16 PM

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QUOTE(jack2 @ Jan 11 2011, 01:04 PM)
housing loan interest is not deductible la... unless you got rental income in which the property is used to generate rental income and incurred loan interest on that property for financing, then you can offset the loan interest against your rental income as deductible expense.


Added on January 11, 2011, 1:05 pm

I wanna lol your answer given...
*
sorry...house interest rate is tax deductible....

Faedah pembelian rumah. Potongan cukai terhad kepada RM10,000 setiap tahun asas bagi 3 tahun taksiran berturut-turut bermula dari tarikh faedah mula dibayar.
Syarat kelayakan:
(i) pemastautin warganegara Malaysia;
(ii) pembelian rumah kediaman terhad kepada satu unit sahaja;
(iii) perjanjian jual beli ditandatangani dalam tempoh 10 Mac 2009 sehingga 31 Disember 2010; dan
(iv) rumah kediaman tersebut tidak disewakan.
Di mana:
(a) 2 atau lebih individu layak menuntut potongan bagi sebuah rumah kediaman; dan
(b) jumlah faedah yang dibelanjakan oleh kesemua individu berkenaan melebihi amaun yang dibenarkan dalam tahun itu. Setiap individu dibenarkan suatu potongan bagi setiap tahun mengikut formula berikut:
A x B
C
Di mana;
A = jumlah faedah dibenarkan dalam tahun berkenaan;
B = jumlah faedah dibelanjakan oleh individu berkenaan dalam tahun berkenaan;
C = jumlah faedah dibelanjakan oleh kesemua individu

http://www.hasil.gov.my/goindex.php?kump=5...3&unit=1&sequ=1
arsenal
post Jan 11 2011, 05:07 PM

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hello

If I owned 2 properties, do I need to combined both rentals and minus the expenses or do calculate each of the rental minus expenses separately?

Thanks!
arsenal
post Jan 13 2011, 02:37 PM

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QUOTE(acevent @ Jan 13 2011, 12:31 PM)
From my knowledge, you should combine both property as a single source, Rental Income. Rental source can not be subdivide into each property either profit or non profit source.
*
Thanks man!
arsenal
post Feb 16 2011, 02:27 PM

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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


arsenal
post Feb 16 2011, 04:34 PM

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QUOTE(cherroy @ Feb 16 2011, 03:50 PM)
ii) 3G is considered a broadband service, keep your monthly statement as a proof.
It is a relief, not rebate.
I don't think Digi will issue those kind of statement, correct me if I am wrong.
*
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?

arsenal
post Feb 28 2011, 10:07 AM

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it comes under mobile broadband?

http://www.malaysiavacationguide.com/malay...-providers.html

Really need tax expert...
arsenal
post Mar 3 2011, 09:37 AM

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ATTENTION ATTENTION

3G also eligible for rebate! I asked LHDN and they replied me this morning!

from CallCentre <callcentre@hasil.gov.my>
to
cc masurimusa@hasil.gov.my
date Thu, Mar 3, 2011 at 9:32 AM
subject Re: Digi Data Plan (3G) [T20110301000PS010Z1146776]

hide details 9:32 AM (3 minutes ago)


Tuan/Puan,

Emel tuan/puan dirujuk.

Peruntukan sek. 46(1)(m), ACP 1967 diperkenalkan untuk memberi potongan terhad kepada
RM500 setahun kepada individu yang melakukan perbelanjaan langganan jalur lebar yang
didaftarkan atas nama individu berkenaan dalam tempoh asas. Potongan ini juga meliputi belanja
langganan jalur lebar secara pra-bayar dengan syarat individu boleh mengemukakan penyata
bulanan menunjukkan nilai isi semula (reload) serta resit yang membuktikan penyata tersebut
telah dibayar.

Maksud jalur lebar adalah capaian internet dengan kelajuan bersamaan dengan atau lebih daripada
256kbps satu arah atau kedua-dua arah. Teknologi jalur lebar dilaksanakan secara
berwayar (contohnya TM Streamyx) dan tidak berwayar (contohnya 3G).

Untuk menentukan bahawa seseorang pembayar cukai layak menuntut potongan RM500 atas
yuran langganan jalur lebar adalah dengan menentukan kaedah digunakan untuk mencapai
internet.seperti dinyatakan di atas.

Sekiranya tuan mempunyai sebarang pertanyaan lanjut, sila hubungi Pusat Khidmat Pelanggan
di talian :

Rujukan Segera :
Penggajian (Tiada Pendapatan Perniagaan) : 03-4289 3600 Perniagaan (Bekerja Sendiri / Perkongsian) : 03-4289 3700 e-Filing : 03-4289 3535

Talian Utama : 1-300-88-3010 atau 603-4289 3500 (Luar Negara) Faks : 03-4289 3400

Sekian, terima kasih.

MASURI BINTI MUSA
Pusat Khidmat Pelanggan
Bahagian Komunikasi Korporat
Jabatan Khidmat Korporat
Lembaga Hasil Dalam Negeri Malaysia


--- Original Message ---
On March 1, 2011 at 9:07 AM, "Puvan Maha Iswara" <puvand@gmail.com> wrote:

>Hi Tuan/Puan,
>
>Saya ingin menanya tentang cukai pelepasan untuk broadband. Adakah Data Plan seperti Maxis atau Digi diambil kira? Setahu saya, data plan juga diambil kira sebagai broadband.
>
>Terima Kasih.
arsenal
post Mar 4 2011, 06:59 PM

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QUOTE(dcon @ Mar 4 2011, 06:10 PM)
Just wanna ask if self body/blood diagnostic check entitle for tax reduction?
*
yes 500 bucks rebate!
arsenal
post Mar 8 2011, 09:23 AM

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QUOTE(500Kmission @ Mar 5 2011, 07:06 PM)
Which IRB book that u refer? According to blue book that issue by MIA, CPA and CTIM, the medical and education insurance can only be claim under the name of taxpayer. That is all which w.e.f. 2001 and onwards.


Added on March 5, 2011, 7:17 pm
can u give us the conclusion?
*
Data Plan can be considered as broadband and eligible for tax claim...
arsenal
post Mar 31 2011, 11:03 AM

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Did anyone get 40 cent extra for their tax refund through BSN / CIMB (through direct debit)? anyone can confirm ? Thanks
arsenal
post Mar 31 2011, 03:03 PM

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QUOTE(Badakitten @ Mar 31 2011, 02:57 PM)
Hello lym..i just receive my EA form from my employer. But i dont really know how it works, and i've gone through the BE explanation note from LHDN but still cant understand it very well. SO really need some help here.

1. My total income for this year is RM25,7xx.
2. PCB = RM49
3. Tax Exclusions = RM69.
4. There is no deduction for PCB made at my salary at the moment.

The question is, how they get the PCB and tax exclusion value? and do i need to pay tax in this case? and last but not least, how am gona pay it. If there is any site on this page telling that, pls direct me over there.

Thx.
*
First go register pin number first...and then can do e filing
arsenal
post Apr 12 2011, 10:38 AM

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Hi people,

I would like to ask several questions.

(i) If I fixed air cond or water heater after the tenancy agreement date, can I consider this as expenses for rental income?

(ii) From what I understand. "initial" repairs on the house is not consider expenses but if the repairs are performed after tenancy agreement date, can be consider as expenses. it is correct?

(iii) Can the loss on rental income in current year to bring forward to the following year?


Thank you so much!
arsenal
post Apr 20 2011, 01:12 PM

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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?
arsenal
post Apr 20 2011, 02:34 PM

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hmmm...

how abt this website?

http://www.knowthymoney.com/2011/03/36-cri...laim-under.html



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