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 Income Tax Issues

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vin_ann
post Apr 11 2011, 09:48 PM

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hi,

im not sure im slow or not.

Im just realized the personal relief is RM9,000 !
vin_ann
post Apr 11 2011, 09:50 PM

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Guess im consider slow compared with others.

Going to do my e-filling by this week.

going to read all the recent pages from the back!
vin_ann
post Apr 12 2011, 03:13 PM

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i have 1 scenario on claim for Sport equipment tax relief maximum claims RM300.

as some of you might know, Sport equipments tax relief did not include sport attire and sport shoe.

Here's my scenario:

Im a marathoner runner. i run 42km marathon. Can i claims my running shoe under sport equipment tax relief ?

i asked 1 friend who practice in tax: her reply said Once IRB said can not, then its Can not claim.

while another 1 friend who also practice in tax, said i got my reason on claiming the the tax relief as its "Running Shoe" not sport shoe.

Its a running shoe used for training for marathon and used for marathon.

with this basis, she suggested me to claim RM300.

What's other opinion?
vin_ann
post Apr 12 2011, 05:14 PM

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QUOTE(David83 @ Apr 12 2011, 03:35 PM)
Hi vin_ann,
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you did not get my point huh.

nvm la.


Added on April 12, 2011, 5:20 pm
QUOTE(lostasylum @ Apr 12 2011, 05:01 PM)

i have a few questions with regards to income tax:

1. if i have rental income, do i still fill in borang BE, or do I start filling in borang B already?
2. if i am employed, but own a business as well, do i need to fill in both borang BE and B, or do i just put everything into borang B only?
3. i heard that if i bought a property last year (i.e. all the documents are signed and processed in 2010), there is some tax relief?

sorry for the noob questions... thanks!


can anyone help me with my queries?
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1. Rental Income - it can be either classified under Rental Income Section 4(D) where you still can use Borang BE or Business Income Section 4(A) where you got to use Borang B.

if you are own more than 3 residential houses collecting rental or 1/2 commercial units, you will falls under Section 4(A) - Business income (Borang B)

2. as long you have business income, its Borang B.

Borang BE is only for empolyment income only.

3. Sorry cant help, as no follows up closely on updates.

This post has been edited by vin_ann: Apr 12 2011, 05:20 PM
vin_ann
post Apr 13 2011, 09:31 AM

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QUOTE(uNeVErwaLkaloNe @ Apr 12 2011, 05:36 PM)
Actually he did answer you with this (see bold), sport/running shoes cannot be claim in tax relief
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That's IRB stand in law but in the reality, people do challenge IRB's definition on the law.

QUOTE(nemo2 @ Apr 13 2011, 02:24 AM)
@ vin_ann

If i were you, i will claim. In the event that income tax question me on the deduction, i will negotiate and appeal. If still not allowed, just forget it since the saving (RM300 x 25%) is not much.

If no one question me... then keep silent lor...
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Yeah! that's what my pro tax relief friend told me! Its oly gives you RM75 reduction in tax. If IRB were to audit and spend lots of time to investigate and its cost time and energy for IRB.

finally, if there's wrong doing, then fine with penalty but IRB officer wasted hours if not days to investigate!


QUOTE(ronnie @ Apr 13 2011, 08:36 AM)
Bad advice.... if everyone will do like you say, then everyone can practically claim all the tax relief possible, right ?

My take on the sports equipment : it must be an item from the sports in which if you remove it, it no longer becomes that sports.
Eg.
Shuttlecocks: without it how to play badminton ?
Racquets: without it how to play badminton/tennis/squash/.... ?

BUT without shoes, can you still run the marathon ? BUT without swimming suit, can you still swim ?
- The answer is YES, thus you cannot claim these items
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It's arguable. Just matter of whether you willing to spend time and energy to appeal for it.

Anyways, this RM300 relief, its up to individual to decide whether want to claims or not. just voicing out the possible tax relief you can claims and possibility of time used when tax audit found out. tongue.gif



vin_ann
post Apr 13 2011, 10:00 AM

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QUOTE(Chester @ Apr 13 2011, 09:39 AM)
what about cycling machine?
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Yes, you can.

How you going to cycle without a bicycle.

Wait.. did u mention cycling machine? those stagnant cycling workout machine?

Yes, you can. Its an equipment for cycling (sport).




vin_ann
post Apr 13 2011, 10:18 AM

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Btw, just to share my last experience with E-Filling.

I forget my "kata laluan". So i called the IRB customer service.

She teach me: go to "lupa Kata Laluan" and click.

you have to enter your IC number without dash and you type

"password" in the password colunm and press Hantar.

After that, you will be lead to change new password.

and its DONE!
vin_ann
post Apr 14 2011, 09:59 AM

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QUOTE(wufei @ Apr 13 2011, 10:55 AM)
Kawan you better be correct on the line I have highlighted.


Added on April 13, 2011, 10:56 am
Report to Inland Revenue Board that this company does not prepare EA form.

For your tax submission you can add up all the numbers in your payslip.
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Thanks for highlight.

what i mentioned were old rulling. Sorry about that.

Now updated with the new public ruling which state on the basis providing management property service to differentiate between business income and non-business income for rental.

for more detail can find in the attachment regards Rental income.


Attached File(s)
Attached File  PR4_2011.pdf ( 256.54k ) Number of downloads: 25
vin_ann
post Apr 19 2011, 02:37 PM

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People, tomorrow 20 April is your last day to get your e-filling new pin for 1st timer user!

Good luck & all the best.

Btw, i submitted my e-filling and there's tax overpaid / refund.

Do i need to do anything extra?

1st time got tax refund ! hyper excited man!
vin_ann
post Apr 19 2011, 04:15 PM

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QUOTE(leongal @ Apr 19 2011, 02:45 PM)
just wait for their letter
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Thank you.
vin_ann
post Apr 29 2011, 10:01 AM

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QUOTE(deodorant @ Apr 28 2011, 05:47 PM)
let's say you earned 100k in 2010, and you paid 10k for your professional certification, you'd put 90k as your income in your declaration.
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Yes. i put my net employment income after deducting my ACCA annual fees...!

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