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 Income Tax Issues v2

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ck23
post Apr 23 2012, 04:30 PM

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QUOTE(countdown @ Apr 23 2012, 03:23 PM)
Your insurance annual statement will state them out clearly.

Ex:
Basic Life Premium Insurance: RMxxxx.xx
Medical Insurance Premium: RMxxxx.xx

If you didn't received ur statement, perhaps u can call their call center, for Prudential they will be able to fax to u immediately.
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Understood.

This year I took over my client from a tax agent. That tax agent did it wrong. They put lumpsum insurance premium. Didnt take out life portion.
NOOB TAX AGENT!!!! FURTHERMORE CHARGE RM400 for tax comp last year. THIS YEAR CHARGE RM600!!!

I only take RM100 for such service.


Added on April 23, 2012, 4:39 pm
QUOTE(Jason @ Apr 23 2012, 11:33 AM)
"Any income"

but its not income, more like allowance? its to pay for meals, laundry etc.
e.g. going overseas for a 3 day conference.

I still get my same monthly salary and I am not posted overseas for work, just overseas for meeting or exhibition etc.

the company pays for accommodation, and then gives us subsistence/allowance
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If it's meal allowance, it's fully exempted.

How did it print out in your payslip?

If stated with Meal Allowance, tax exempt. If not, any allowance is considered employment income.

Sometimes, it's so conflict when HR prepares your EA Form. It's better to do it by your own or consult tax adviser.


Added on April 23, 2012, 4:45 pm
QUOTE(mobio.dev @ Apr 23 2012, 03:11 PM)
hi, just want to confirm, till last year I've submitted BE form, but this year I'm going to submit B form, is it ok if I just submit B form before June or need to inform to LHDN about this changes before end of April, as I know my previous income tax no is SG..., so once I submit B form, it will automatically change to SO....,

pls advice
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To be precise, B form is OG, not SO.

You may inform IRB anytime.

Actions wont be taken so fast. If you missed April submission, it's impliedly known that you will be submitting on June.

Call them to play safe, tho.

This post has been edited by ck23: Apr 23 2012, 04:45 PM
tchtax
post Apr 23 2012, 06:48 PM

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The new EA forms 2011 will stipulate in Part G that the allowance is exempted.
birain
post Apr 24 2012, 11:02 AM

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~~~Prudential Statement~~~

Basic Life Premium Insurance: RMxxxx.xx (fill this in D17)
Medical Insurance Premium: RMxxxx.xx (fill this in D19)

is this correct?? icon_question.gif thx notworthy.gif
countdown
post Apr 24 2012, 02:13 PM

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QUOTE(birain @ Apr 24 2012, 11:02 AM)
~~~Prudential Statement~~~

Basic Life Premium Insurance: RMxxxx.xx (fill this in D17)
Medical Insurance Premium: RMxxxx.xx (fill this in D19)

is this correct?? icon_question.gif  thx  notworthy.gif
*
yupe
yiyi87
post Apr 24 2012, 03:48 PM

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QUOTE(mobio.dev @ Apr 22 2012, 07:31 PM)
no its data plan, need to be broadband
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then why this?
Q43. Is the DG Smart Plan™ eligible for the Government's broadband tax relief program?
A43. Yes. Individual taxpayers will enjoy tax relief on the DG Smart Plan™ fee (e.g. DG Smart Plan™ 68 = RM68x12). Please contact your tax agent / consultant for advice on the broadband tax relief.

very confusing unsure.gif
SUSDavid83
post Apr 24 2012, 09:55 PM

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I received my refund cheque.

Roughly more than 3 weeks after submission.
kazekage_09
post Apr 24 2012, 10:07 PM

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If last year I subscribed megazines for 3 years and at the receipt stated the date of the receipt is May 2011-May 2014, can I split the amount of the receipt for 3 years time (eg: subscribe RM1500, split to claim for income tax 2011=RM500, income tax 2012=RM 500 and income tax 2013=RM500?
DM3
post Apr 25 2012, 09:08 AM

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just got my refund yesterday but from figure they give short of 40sen from the actual stated tongue.gif

And yes as mentioned earlier this year payment directly to bank account and not cheque.


prophetjul
post Apr 25 2012, 09:16 AM

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YOWZeeeeeeeeeeeee.......Xtra Rm8,000 taxes! cry.gif
dannyw
post Apr 25 2012, 09:17 AM

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QUOTE(David83 @ Apr 24 2012, 09:55 PM)
I received my refund cheque.

Roughly more than 3 weeks after submission.
*
Mind to share the amount range of the refund?

Because I notice if my refund is about rm200 or below, get it within few weeks. However, my last year refund almost 1k, took me more than 6mth to get it back..... sweat.gif

Wonder how about this year.
DM3
post Apr 25 2012, 09:21 AM

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QUOTE(dannyw @ Apr 25 2012, 09:17 AM)
Mind to share the amount range of the refund?

Because I notice if my refund is about rm200 or below, get it within few weeks. However, my last year refund almost 1k, took me more than 6mth to get it back..... sweat.gif

Wonder how about this year.
*
i got back around 2.5k biggrin.gif
prophetjul
post Apr 25 2012, 09:27 AM

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QUOTE(DM3 @ Apr 25 2012, 09:08 AM)
just got my refund yesterday but from figure they give short of 40sen from the actual stated tongue.gif

And yes as mentioned earlier this year payment directly to bank account and not cheque.
*
You should complain.....imagine someone pocket the 40 cents from all the accounts....
Drian
post Apr 25 2012, 09:27 AM

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QUOTE(dannyw @ Apr 25 2012, 09:17 AM)
Mind to share the amount range of the refund?

Because I notice if my refund is about rm200 or below, get it within few weeks. However, my last year refund almost 1k, took me more than 6mth to get it back..... sweat.gif

Wonder how about this year.
*
mine is 1.2k, mostly is from the 10k house loan deduction. Submit at middle of march and haven't got it back yet.... getting ready of all the documents if they ask.


This post has been edited by Drian: Apr 25 2012, 09:28 AM
dannyw
post Apr 25 2012, 09:32 AM

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QUOTE(Drian @ Apr 25 2012, 09:27 AM)
mine is 1.2k, mostly is from the 10k house loan deduction. Submit at middle of march and haven't got it back yet.... getting ready of all the documents if they ask.
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Ya, about 1k I guess they will check more details. Mine too, last year after few months only ask for supporting document. Mostly is housing loan interest, else wont be that huge amount.

If this year they still ask for housing loan document, guess i will make a complain. Don't tell me every year I have to sent you the same document? And what is the purpose of using e-filling then? Might as well I go to branch, let them copy what ever document they want, so that no need wait for 3~4 mths only ask for document and another few mths to prepared the cheque...


Added on April 25, 2012, 9:33 am
QUOTE(DM3 @ Apr 25 2012, 09:21 AM)
i got back around 2.5k biggrin.gif
*
Receive the payment already?

This post has been edited by dannyw: Apr 25 2012, 09:33 AM
DM3
post Apr 25 2012, 09:37 AM

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QUOTE(prophetjul @ Apr 25 2012, 09:27 AM)
You should complain.....imagine someone pocket the 40 cents from all the accounts....
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ya i will wait for the letter and later get back at them smile.gif
idoblu
post Apr 25 2012, 10:22 AM

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Sifus, want to ask this -

under section C as follows -

C3 - Income in respect of interest received by individuals resident in HK-5 -
Discounts Malaysia from money deposited with the following institutions
is tax:



Does this means those interest derived from fixed deposit and savings also must declare as income?


and under Section D -

D13 - Interest on Housing Loan
only for S&P signed within 2009 and 2010


my question is, how come this deduction only for certain years? and what is it about?

Thanks in advance


SUSDavid83
post Apr 25 2012, 10:42 AM

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QUOTE(dannyw @ Apr 25 2012, 09:17 AM)
Mind to share the amount range of the refund?

Because I notice if my refund is about rm200 or below, get it within few weeks. However, my last year refund almost 1k, took me more than 6mth to get it back..... sweat.gif

Wonder how about this year.
*
> RM 500, < RM 1000.
dannyw
post Apr 25 2012, 11:00 AM

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QUOTE(David83 @ Apr 25 2012, 10:42 AM)
> RM 500, < RM 1000.
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biggrin.gif Thx for ur info bro. Let's hope I do get my soon...
DM3
post Apr 25 2012, 11:02 AM

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QUOTE(dannyw @ Apr 25 2012, 09:32 AM)
Ya, about 1k I guess they will check more details. Mine too, last year after few months only ask for supporting document. Mostly is housing loan interest, else wont be that huge amount.

If this year they still ask for housing loan document, guess i will make a complain. Don't tell me every year I have to sent you the same document? And what is the purpose of using e-filling then? Might as well I go to branch, let them copy what ever document they want, so that no need wait for 3~4 mths only ask for document and another few mths to prepared the cheque...


Added on April 25, 2012, 9:33 am
Receive the payment already?
*
ya got it yesterday after bout 3weeks+
goliath
post Apr 25 2012, 11:08 AM

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QUOTE(DM3 @ Apr 25 2012, 09:08 AM)
just got my refund yesterday but from figure they give short of 40sen from the actual stated tongue.gif
*
Same situation. They still owe me 15 cents. laugh.gif

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