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 Income Tax Issues

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lexiqa
post Apr 22 2011, 03:25 AM

On my way
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Senior Member
525 posts

Joined: May 2010
From: KL
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
lexiqa
post Apr 22 2011, 06:52 PM

On my way
****
Senior Member
525 posts

Joined: May 2010
From: KL
check LHDN website lor

zzzzz

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