Someone has done the spring cleaning.
Why my post disappear from this thread? and plunge to a closed thread>

http://forum.lowyat.net/topic/649044

this post suppose to belong here but it was moved to a closed thread.

Is that means my post is non-related to the topic discussed or post being reported offensive etc

Hi,
I am wondering if LHDN still sends out the "Penyata Taksiran dan Bayaran" annually? I last receive it in mid-2006 for YA2003 and YA2004.
Basically the statement show the tax and payment made.
I was told that there will be no statement or receipt from LHDN from since YA2005, is that true?
Thanks.

I was paying income tax at 27%, the maximum level. Under the new PCB system, my monthly salary is even deducted more. It is actually over-deducted for quite a big sum. Budget 2010 announced that maximum personal income tax rate will be reduced to 26% but I doesn't help to relief me much.

I know it is our responsibility to pay tax based on income level. I am only an employee earning fixed salary in corporate world, and there is not much room to structure my taxable income even though I maximise donotion, medical and purchase of books and computer.

I would like to ask those who are also paying the maximum 27% income tax rate or tax consultants, that how you strategise income tax matter in order to minimise taxable income.

Even under the previous PCB system, my monthly income was also over-deducted. I have roughly calculated and found out that I need to claim back quite a large sum for my 2009 income tax.

Guys

I have a sole proprietor company now and wishes to Make it to be a sdn bhd by next year. The problem is this Income tax issue.

Is directors fee tax free or i must declare?

If i were to pay myself a salary, What is the minimum amount for the tax to kick in?

Would it be the company responsibility or personal responsibility to register myself for income tax

That ruling is so absurd. Just because i am a director and the only sole work force of the entire company, It makes me un-eligible for tax free allowance and claim?

So how to circumvent this ruling?

I am more concern regarding my Personal Income tax though. Will be trying to do it without tax agent as it cost $$.

Directors income tax only need to be submitted in a personal capacity or will it also be the company's affair?

I thought we can have up to RM500 rebate on internet? I dont see the option in the ebilling

can i take my wife's medical insurance to claim under me if we are doing separate assessment? Also, at the same time transferring my life insurance to her?
i earn more than her so try to optimise the tax reliefs if possible.

so the explainatory note saying that insurance paid for husband/wife is only relevant for joint assessment?

and what about the medical/education insurance for self, spouse and children? is it the same?

correct me if i'm not mistaken, but in a separate assessment, a husband/wife is allowed to claim deduction for buying (& paying) life & medical insurance on the spouse's name, no?

sorry for not fully understand this. doing this for 1st year..
but how do we determine who is the payer? i can always say i pay for my wife and my wife paid for mine?
receipts are not going to say who paid for it and the tax relief cert only mentions the insured's name..

guys, bout the housing loan interest..

can be deductible up to 10k rite?

Only interest for house purchased between 10 Mac 2009 & 31 Dec 2010 is eligible for tax deduction.

I've been earning a living from the Internet for most of 2009, and have been wondering if Internet business income is taxable. There's a thread somewhere here (quite an outdated one... posted in 2007) that it's not taxable, but I'm just wondering if there's any update on this.

I'm planning to call IRB next week, but anyone with experience and knowledge in this please do share.
kyaizen

Hi Cherroy,

Quoting verbatim from today's Sunday Star article -

"Foreign-sourced income is not taxable even if remitted to Malaysia. So you are not required to report such income in the tax returns. Examples of such income is rental income from properties outside Malaysia and employment income arising from an employment exercised outside Malaysia."

I am assuming that "foreign-sourced income" also covers Internet businesses where the customer base is outside Malaysia.

What do you think?

2. If I am not mistaken, there is something about us being able to claim broadband internet now but I dont see it in the e-Filing website?

is there is any tax relief for rental income?

If I have claimed for a new desktop CPU last year, can I claim for a new laptop this year or can I claim for a new keyboard this year also ?

its once in 3 years dude. Not every year claim
but this got me wondering. Let's take his situation for example. If he did not claim a new PC...and kept the receipts from last year (lets say 2008) to this date...can we use those old receipts to claim?

If I buy a CPU by parts(eg. Monitor, casing first, then HDD,memory, cpu, motherboard later) , is it eligible for the tax relief?

Purchase of personal computer

freelance workers need to pay income tax or not? Income not consistent...

may i know for sole prop, if my net profit is rm1k for this year, is it i will take all rm1k? if next year net profit is rm100k, then take all rm100k?

another, if my parents not working, can i employ them and pay rm20k annual salary which sure not eligible to pay tax?

this also tax fraud? i can say doing so minor work for me.....

is not real employment not epf and sosco...but contract...

what u mean thing is not you say what, but what is happening in real?

I also have a question regarding the huge loss that my company incurred in YA 2009.

As we are the foreign outsourcing manpower company, previously the levy that we paid upfront for the workers were deductible from their wages but due to the recent change of ruling somewhere in apr 2009, the levy would then be borne by the employer like us.

As such, this levy that we initially treated as prepayment as for workers who came into malaysia from 2008 to 2009 has no choice but to expense off due to no where we can deduct from worker's earning. Will LHDN recognise such one time loss being declared in YA 2009?

However, as such policy came in without prior notice, we were not able to transfer such added cost to our clients due to constraint on the previously signed contract. In order not to deter the financial cash flow, we had no choice but to keep deducting such levy from the worker's wages only after we reached the new pricing agreement with the clients. In the end, we did return the previously deducted levy back to the workers after few months of new pricing rate took effect meaning we dragged this one time loss impact abt 6 mths later after such annoucement was made. Again, will LHDN accept this onetime write-off as deductible expenses though we did make accrual before releasing such on-hold levy to workers 6 mths later? The impact was rather big as the full yr levy/worker is RM 1200, with abt 850 workers at that time, such expense off is abt RM 900K. It worries me whether LHDN would accept such an one time write-off few mths after this levy implementation.....

Thanks in advance if anyone can advise or shall I need to refer to LHDN before they come to query on this?