Welcome Guest ( Log In | Register )

Bump Topic Topic Closed RSS Feed

Outline · [ Standard ] · Linear+

 Income Tax Issues

views
     
mtsen
post Mar 6 2009, 09:58 PM

Regular
******
Senior Member
1,473 posts

Joined: Nov 2005


old system assume maximum deduction where the new one assume some basic deduction while others not, so what you need to do is to tell your employer what you are deducting ie. buy RM 1000 books etc to reduce your monthly deduction, good luck !
mtsen
post Apr 8 2009, 12:46 AM

Regular
******
Senior Member
1,473 posts

Joined: Nov 2005


QUOTE(wkf @ Apr 8 2009, 12:31 AM)
from 2008 onwards, the dividend received deemed final div and no longer subject to tax.
*
good, since most ppl don't file taxable dividen anyway ..

biggrin.gif
mtsen
post Apr 13 2009, 02:23 PM

Regular
******
Senior Member
1,473 posts

Joined: Nov 2005


QUOTE(keeseng12 @ Apr 11 2009, 09:52 AM)
thanks a lot. i called LHDN that day and ask regarding if they provide any consultation on how to declare your income tax. something like you take your documents to accountancy firm for them to help you to fill the income tax. they said yes, they do provide such help. but is it wise idea? it's like they will dig out my record and it'll be hard for me to "run tax". tongue.gif

but here's the situation, i have an amount of income undeclared in 2007 and i've paid the PCB (RM137) and i feel over these years, i been paying more than what i should be. seeking for direct help from LHDN might help me to clear up everything. but seriously, i'm not sure if this is wise move. can anyone help me in this? or anyone tried their help before?
*
if u r in penang I suggest u do go lhdn. they may even say, kenapa u kasih tahu, ini tak payah punya ...

worst case scenario is you file it correctly and pay more, its a good lesson to learn from the reliable correct source

trust me, this kacang putih not consider run tax, your experience after visiting them may help you really run tax in future ... go lah.

other states not sure coz no first hand experience, but above should generally apply everywhere smile.gif


mtsen
post Apr 16 2009, 01:42 AM

Regular
******
Senior Member
1,473 posts

Joined: Nov 2005


QUOTE(socratesman @ Apr 16 2009, 01:22 AM)
Do you folks receive other tax-related documents from your employers beside EA form?

(such as PCB deduction receipts/statements)
*
EA only

Check out FREE income tax software available to help file your income tax, include optimizing tips as well ...

This post has been edited by mtsen: Apr 16 2009, 01:43 AM
mtsen
post Apr 17 2009, 11:10 AM

Regular
******
Senior Member
1,473 posts

Joined: Nov 2005


QUOTE(mo_meng @ Apr 17 2009, 10:46 AM)
hey i got a questions here, im malaysian and i worked in malaysia few years ago but currently working in singapore. i got dividend from shares which i bought in malaysia, but not much, that is my only so called "income" in malaysia, do i still need to submit income tax form?
*
submit and pay no tax, i think this may be the last year. after this, we no longer need to file dividen in personal income tax, its all taken care at corp level ...
mtsen
post Apr 17 2009, 11:20 AM

Regular
******
Senior Member
1,473 posts

Joined: Nov 2005


QUOTE(wlovey @ Apr 17 2009, 11:17 AM)
For sdn bhd company, do they have to be taxed 30% of their profit? Anyone know in detail how gov tax a sdn bhd company?
*
revenue - expense = profit, pay tax ( i think this year 27% ? )


Added on April 17, 2009, 11:22 am
QUOTE(ykltpm @ Apr 17 2009, 11:10 AM)
Need your help pls !

1) My basic salary is RM 2,500 plus allowance of RM 500. Penggajian in the EA form shows (RM2,500+RM500)x12=RM36,000. Can I claim for tax relief on the Allowance portion?

2) I am staying with my retired parents. The house is under their names. The quit rent, assessment and maintenance are all paid by me although I don't have to pay rental. Am I entitled to claim for tax relief under Sewa portion ?
*
allowance is income, no relief. u relieve from other sources.

i promote usetax saya to help u optimize ur tax smile.gif

This post has been edited by mtsen: Apr 17 2009, 11:22 AM
mtsen
post Apr 17 2009, 10:49 PM

Regular
******
Senior Member
1,473 posts

Joined: Nov 2005


QUOTE(mo_meng @ Apr 17 2009, 11:26 AM)
i didn't receive any form requires for me to submit the income tax coz i not working in malaysia anymore
some more the div receive suppose to be TE tax exempted or already tax deducted so it is illegal for me to not submit the form?
*
not work in malaysia = no pay tax to malaysia


Added on April 17, 2009, 10:50 pm
QUOTE(overthemoon @ Apr 17 2009, 09:52 PM)
Errr, you mean as income for the tax year 2009 ??????  rclxub.gif

With regard to book purchase, are we allowed to include books bought from outside Malaysia, e.g.via Amazon etc ?
*
all books, keep receive if audit occurs

This post has been edited by mtsen: Apr 17 2009, 10:50 PM
mtsen
post Apr 29 2009, 12:04 PM

Regular
******
Senior Member
1,473 posts

Joined: Nov 2005


QUOTE(nothingz @ Apr 29 2009, 11:44 AM)
don't buy real property or motor vehicle
*
or use parent's name to buy, then write in their will giving you as a gift when they are gone, non-taxable.


Added on April 29, 2009, 12:05 pm
QUOTE(nothingz @ Apr 29 2009, 12:03 PM)
is it really that bad, i was able to log in and proceed with e-filing last night from 7pm onwards
*
if really rich and laundering money then yes really that bad, if lubang here lubang there anyway, not that bad at all ...

This post has been edited by mtsen: Apr 29 2009, 12:05 PM
mtsen
post Apr 30 2009, 10:38 PM

Regular
******
Senior Member
1,473 posts

Joined: Nov 2005


QUOTE(T_flash @ Apr 30 2009, 06:38 PM)
with TAXSAYA, after i click on LOCK on the tax file number, it logs me to the lhdn website, and logs in automatically.

After that, what am I suppose to do?? I try clicking on the button underneath, it gives me an error message in malay which I don't understand.
it says Sila isi jenis taksiran , and Sila isi alamat surat-menyurat

what do i do?
*
QUOTE(T_flash @ Apr 30 2009, 06:46 PM)
Can anyone help??

And with TAXSAYA...premium version, isn't it suppose to lodge for me??? why is it that after it logs into LHDN, I click around the buttons on the left side, everything is blank...why am i paying for premium then??
*
after TaxSaya ask you to login lhdn web site, you do nothing and just let it do the upload.

right now, the web site is jam so it will take a long time to upload your info and do the efilling for you

this is the problem from lhdn web site ... and this is also the price to pay when you do things last minute ...
mtsen
post Feb 15 2011, 12:04 AM

Regular
******
Senior Member
1,473 posts

Joined: Nov 2005


QUOTE(CKJMark @ Feb 14 2011, 09:33 AM)
Technically speaking:-

- yes, you should calculate depreciation, but doesn't make a difference for tax since you will be adding it back.

- If RM7K is the gross money from the sales, and you are bringing RM7K to tax, then yes this is doable.  It's not the most correct way of doing it, but it is the least risky given you don't have documentation.

- when your business close down, you are not allowed to claim tax deductions.  So if those bills are for after you stop your business, you cannot claim those deductions
I think its best you sit down with an accountant and/or the IRB officer and talk to them what you need to do.  Go to the IRB branch that maintains your tax file and ask them for advice.  They may also want to review your prior years to make sure all issues are settled.

Sorry I'm not too familiar with how to deregister a business.  I usually leave that to our CoSec  tongue.gif
*
7k to appoint an accountant and tax agent !? better not. it will cost more

deregistering can be
1. strike off - never had any transaction, no need to do account just go to SSM and request
2. winding off - do a wind off account then close it down.



Topic ClosedOptions
 

Change to:
| Lo-Fi Version
0.0484sec    0.84    7 queries    GZIP Disabled
Time is now: 11th December 2025 - 01:53 PM