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 Income Tax Issues v2

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nothingz
post Feb 26 2013, 06:38 PM

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QUOTE(legiwei @ Feb 26 2013, 04:09 PM)
I've presented my case and you do not agree to it so I guess there no point debating further. smile.gif The assessment that you received (which is actually our very own tax return) is 7 months after the year of assessment. So, is this fair to the IRB? laugh.gif

It's not that difficult really. All you have to do is write in to IRB and meet up with the officer. We're now on self assessment so revising our own assessment is probably not gonna happen regularly. How hard is it to offset previous overpayment of tax to our current future tax installment >.< The important thing is to get IRB to acknowledge and agree to the plan.
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Obviously, you work for irb.

if you are a taxpayer, you should think on the taxpayer's behalf but you are damn funny

This post has been edited by nothingz: Feb 26 2013, 08:07 PM
Eguy1314
post Feb 26 2013, 11:18 PM

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QUOTE(nothingz @ Feb 24 2013, 05:33 PM)
it is not easy to understand income tax rules and regulations, some of us here spent years in doing and learning it.  for certain tax treatments we can only learn through case study, the guidelines given might be to brief. 

most of the time peoples only learn those parts applicable to them such as tax reliefs, you can use google search for more info or read IRB Public Rulings for easier understanding
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I see. Thank you >.<
cute_boboi
post Feb 27 2013, 06:25 PM

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QUOTE(nothingz @ Feb 26 2013, 06:38 PM)
Obviously, you work for irb.

if you are a taxpayer, you should think on the taxpayer's behalf but you are damn funny
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I'm a taxpayer, and thinking on behalf of taxpayer, I think the current pre-paid (PCB) model is working fine.

If LHDN does not collect in advance:
1) People will not be bother to declare their income and do the yearly assessment.
2) People who need to pay, e.g. 1k, 10k of tax, will suddenly say "no money" and don't pay. Then we have bad-debt/collection.

I prefer this pre-paid method, as some Malaysians, even with savings, will say "no money" to pay tax.

win44
post Feb 28 2013, 04:49 PM

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Edit: Problem solved.

This post has been edited by win44: Feb 28 2013, 07:18 PM
Andy72
post Mar 1 2013, 10:12 AM

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It's 1 March. I wonder why e-filing still not available yet?
SyarkStorm
post Mar 1 2013, 11:32 AM

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its already available smile.gif
ronnie
post Mar 1 2013, 11:23 PM

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QUOTE(Andy72 @ Mar 1 2013, 10:12 AM)
It's 1 March. I wonder why e-filing still not available yet?
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https://spsd.hasil.gov.my/PKI/userlogin.html
Andy72
post Mar 2 2013, 08:25 AM

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QUOTE(ronnie @ Mar 1 2013, 11:23 PM)
Thanks. It wasn't available to me because the old page was cached in my browser cache so I keep seeing last year's login page. Problem solved.

zeist
post Mar 2 2013, 04:09 PM

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Hi guys,

May I know what is the rough tax deduction for income RM55,000 per annum? Before tax relief.

I have received EA form from HR. But the deduction seems high. So I follow the table to deduct manually which is about RM3,600 (refer to my pay slips). But in EA form RM5,700+. wahlaueh?

Anything did I missed?

I am a Bachelor.

This post has been edited by zeist: Mar 2 2013, 04:10 PM
SUSDavid83
post Mar 2 2013, 07:10 PM

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QUOTE(zeist @ Mar 2 2013, 04:09 PM)
Hi guys,

May I know what is the rough tax deduction for income RM55,000 per annum? Before tax relief.

I have received EA form from HR. But the deduction seems high. So I follow the table to deduct manually which is about RM3,600 (refer to my pay slips). But in EA form RM5,700+. wahlaueh?

Anything did I missed?

I am a Bachelor.
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55k p.a. including bonuses?

Refer to table: http://www.hasil.gov.my/goindex.php?kump=5...it=5000&sequ=11

55k gross after EPF will be 48.95k

First 35k, 1525; balance of 13.95k will be taxed at 12% = 1674

Total tax = 3199

This post has been edited by David83: Mar 2 2013, 07:11 PM
zeist
post Mar 2 2013, 07:24 PM

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QUOTE(David83 @ Mar 2 2013, 07:10 PM)
55k p.a. including bonuses?

Refer to table: http://www.hasil.gov.my/goindex.php?kump=5...it=5000&sequ=11

55k gross after EPF will be 48.95k

First 35k, 1525; balance of 13.95k will be taxed at 12% = 1674

Total tax = 3199
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Not sure how they count. I think the amount run a bit. Even if included the bonus in the tax shouldn't exceed RM4K or max at RM4K.

Can I just ignore the deductions in EA form?

Just key in the gross income and other, then PCB paid then remaining balance. Can I just tell them it's an error by the company?

Throw in extra RM2.5K for...? ohmy.gif

But I always thought the figure they want is gross not nett?




SUSDavid83
post Mar 2 2013, 07:29 PM

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QUOTE(zeist @ Mar 2 2013, 07:24 PM)
Not sure how they count. I think the amount run a bit. Even if included the bonus in the tax shouldn't exceed RM4K or max at RM4K.

Can I just ignore the deductions in EA form?

Just key in the gross income and other, then PCB paid then remaining balance. Can I just tell them it's an error by the company?

Throw in extra RM2.5K for...?  ohmy.gif

But I always thought the figure they want is gross not nett?
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Aggregate income is your gross income including fixed monthly salary + fixed allowance (if any) + OT (if any) + bonuses (if any)
db07mufan
post Mar 2 2013, 09:28 PM

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How do i know if my insurance falls under the rebate bracket. I have a medical+investment insurance from Great Eastern, called Smart Protect Essential Insurance. Any idea?
SUSDavid83
post Mar 2 2013, 09:36 PM

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QUOTE(db07mufan @ Mar 2 2013, 09:28 PM)
How do i know if my insurance falls under the rebate bracket. I have a medical+investment insurance from Great Eastern, called Smart Protect Essential Insurance. Any idea?
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The medical insurance in term of % of your annual premium paid is put under Medical + Education insurance section up to RM 3k.

The life insurance in term of % of the annual premium paid is put under EPF + life insurance section up to RM 6k.

Refer to the annual statement from Great Eastern.
db07mufan
post Mar 2 2013, 09:49 PM

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QUOTE(David83 @ Mar 2 2013, 09:36 PM)
The medical insurance in term of % of your annual premium paid is put under Medical + Education insurance section up to RM 3k.

The life insurance in term of % of the annual premium paid is put under EPF + life insurance section up to RM 6k.

Refer to the annual statement from Great Eastern.
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Threw mine away arghh! need to get the statement away. First year doing taxes, so i did not realise until just now in E BE. Already maxed out on the EPF+Life option hopefully i can get something from the Medical+Education portion
ronnie
post Mar 2 2013, 10:25 PM

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SSPN statement for Income Tax filing still not out yet.... mad.gif
foolc
post Mar 2 2013, 10:57 PM

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how to claim refund from income tax department for 2 yrs back rebate suppose to receive? its for the housing loan claim

send them all the documents (snp) and letters but until now.. more than 2 yrs they still never refund

but last yr one they already remit the refund

why so unefficient? so many times keep call also until i almost forget about it
penangmee
post Mar 3 2013, 10:58 AM

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QUOTE(ronnie @ Mar 2 2013, 10:25 PM)
SSPN statement for Income Tax filing still not out yet.... mad.gif
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??? rclxub.gif Why do you need SSPN statement? Reference to your passbook should be sufficient.
ronnie
post Mar 3 2013, 11:01 AM

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QUOTE(penangmee @ Mar 3 2013, 10:58 AM)
??? rclxub.gif  Why do you need SSPN statement? Reference to your passbook should be sufficient.
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Is there such thing as a SSPN passbook ? Mind my ignorance

QUOTE
    1. Penyata Akaun SSPN-i akan diposkan ke alamat pendeposit sekali setahun.
    2. Tiada buku simpanan disediakan.
    3. Semua penerima manfaat akan diberikan Kad SSPN-i atau apa-apa bentuk penentusahan keahlian Skim Simpanan Pendidikan Nasional .

Penyata akaun SSPN-i dan penyata pelepasan cukai boleh disemak atau dicetak melalui laman web: www.ptptn.gov.my. Sementara semakan baki akaun boleh dilakukan melalui khidmat pesanan ringkas (SMS) dengan menaip: PTPTN SSPN-i<JARAK>NO AKAUN SSPN-i dan hantar ke 33199.
This post has been edited by ronnie: Mar 3 2013, 11:02 AM
plumberly
post Mar 3 2013, 11:18 AM

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QUOTE(ronnie @ Mar 3 2013, 11:01 AM)
Is there such thing as a SSPN passbook ? Mind my ignorance
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Interesting issue. I don't have passbooks for my 3 kids SSPN either. I just claimed what I put in there for my tax claims. I have the SSPN receipts as proof.

Or is there something I still need?

Thanks.

P/S I have not received a single annual SSPN statement after 3 years! Has anyone received one yet? What kind of deposit is this?

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