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 Income Tax Issues v2

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gnome827
post Mar 23 2013, 01:37 PM

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QUOTE(David83 @ Mar 23 2013, 12:30 PM)
If and only if under benefits in kin (BIK).
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Under BIK, there is no benefits for transports , food or shift allowance (read this in PWC 2013 Malaysian Tax and Business Booklet link >> http://www.pwc.com/en_MY/my/assets/publica...-2012-2013.pdf).

However, in other section of this booklet , transports allowances are exempted from TAX ( look at Page 08 / Page 16 of the PDF)

Guide me. Its confusing.
SUSDavid83
post Mar 23 2013, 01:42 PM

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QUOTE(gnome827 @ Mar 23 2013, 01:37 PM)
Under BIK, there is no benefits for transports , food or shift allowance (read this in PWC 2013 Malaysian Tax and Business Booklet link >> http://www.pwc.com/en_MY/my/assets/publica...-2012-2013.pdf).

However, in other section of this booklet , transports allowances are exempted from TAX ( look at Page 08 / Page 16 of the PDF)

Guide me. Its confusing.
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Refer to the guide from LHDN: http://www.hasil.gov.my/pdf/pdfam/Spesifik...Berkomputer.pdf

Transportation and food/meal allowance are parked under BIK with restriction.

However, shift allowance is not entitled.

Your company must declare this BIK allowance under BIK section in EA form to be tax exempted. Otherwise, it'll be considered as income under penggajian.
gnome827
post Mar 23 2013, 04:27 PM

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QUOTE(David83 @ Mar 23 2013, 01:42 PM)
Refer to the guide from LHDN: http://www.hasil.gov.my/pdf/pdfam/Spesifik...Berkomputer.pdf

Transportation and food/meal allowance are parked under BIK with restriction.

However, shift allowance is not entitled.

Your company must declare this BIK allowance under BIK section in EA form to be tax exempted. Otherwise, it'll be considered as income under penggajian.
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David, Thanks. under which field in EA form my company should have declare ( cant find BIK in EA form) .. is it under "Tip kasar, perkuisit, penerimaan sagu hati atau elaun-elaun lain"
SUSDavid83
post Mar 23 2013, 04:30 PM

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QUOTE(gnome827 @ Mar 23 2013, 04:27 PM)
David, Thanks. under which field in EA form my company should have declare ( cant find BIK in EA form) .. is it under "Tip kasar, perkuisit, penerimaan sagu hati atau elaun-elaun lain"
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Yes. That's BIK.
gnome827
post Mar 23 2013, 04:33 PM

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But David, i hear people said it should be under section "G . JUMLAH ELAUN / PERKUISIT / PEMBERIAN / MANFAAT YANG DIKECUALIKAN CUKAI RM .."

and not under "Tip kasar, perkuisit, penerimaan sagu hati atau elaun-elaun lain"

The HR have to put a figure under section G and not on under "Tip"

Is this correct?
SUSDavid83
post Mar 23 2013, 04:46 PM

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QUOTE(gnome827 @ Mar 23 2013, 04:33 PM)
But David,  i hear people said it should be under section "G . JUMLAH ELAUN / PERKUISIT / PEMBERIAN / MANFAAT YANG DIKECUALIKAN CUKAI RM .."

and not under "Tip kasar, perkuisit, penerimaan sagu hati atau elaun-elaun lain"

The HR have to put a figure under section G and not on under "Tip"

Is this correct?
*
Sorry, my mistake.

I wanted to say Section G JUMLAH ELAUN / PERKUISIT / PEMBERIAN / MANFAAT YANG DIKECUALIKAN CUKAI

Anything under Section B PENDAPATAN PENGGAJIAN, MANFAAT DAN TEMPAT KEDIAMAN (Tidak Termasuk Elaun/Perkuisit/Pemberian/Manfaat Yang Dikecualikan Cukai) is considered as income and taxable.

I didn't refer to the EA form when I replied your earlier post.
gnome827
post Mar 23 2013, 04:57 PM

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QUOTE(David83 @ Mar 23 2013, 04:46 PM)
Sorry, my mistake.

I wanted to say Section G JUMLAH ELAUN / PERKUISIT / PEMBERIAN / MANFAAT YANG DIKECUALIKAN CUKAI

Anything under Section B PENDAPATAN PENGGAJIAN, MANFAAT DAN TEMPAT KEDIAMAN (Tidak Termasuk Elaun/Perkuisit/Pemberian/Manfaat Yang Dikecualikan Cukai) is considered as income and taxable.

I didn't refer to the EA form when I replied your earlier post.
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ah my bad HR... LHDN gave option to declare such allowances but HR did not posted it in section G. thats a huge loss for a 5000 ++ employees . aiyak
minto13
post Mar 23 2013, 06:11 PM

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If there is any value in my Section G, do I need to fill in to my eFile? If yes, where to fill in?
SUSDavid83
post Mar 23 2013, 06:12 PM

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QUOTE(minto13 @ Mar 23 2013, 06:11 PM)
If there is any value in my Section G, do I need to fill in to my eFile? If yes, where to fill in?
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No need.
coo|dude
post Mar 23 2013, 06:21 PM

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QUOTE(David83 @ Mar 23 2013, 01:26 PM)
Seksyen 51 is meant for dividend:
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How to fill it in? Just put in the dividend gained from the shares? And when you said dividen, that's a wide definition. Does it also include dividens from non shares?
SUSDavid83
post Mar 23 2013, 06:22 PM

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QUOTE(coo|dude @ Mar 23 2013, 06:21 PM)
How to fill it in? Just put in the dividend gained from the shares? And when you said dividen, that's a wide definition. Does it also include dividens from non shares?
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Dividend from shares and distribution from unit trusts should be listed under this section.

Click on the HK3 section and fill accordingly to the tax receipts.

[attachmentid=3361213]

This post has been edited by David83: Mar 23 2013, 06:30 PM
SUSMNet
post Mar 23 2013, 07:38 PM

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user posted image

Under
"Insurans pendidikan dan perubatan
Education and medical insurance"

I just fill in the total amount of Medical Insurance Premium+ Medical/ Life Insurance Premium ?

1,300.64 + 154.66 ?

This post has been edited by MNet: Mar 23 2013, 07:40 PM
SUSDavid83
post Mar 23 2013, 07:43 PM

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QUOTE(MNet @ Mar 23 2013, 07:38 PM)
user posted image

Under
"Insurans pendidikan dan perubatan
Education and medical insurance"

I just fill in the total amount of Medical Insurance Premium+ Medical/ Life Insurance Premium ?

1,300.64 + 154.66 ?
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Yes. The attached receipt there is so clear and self-explanatory.
nothingz
post Mar 23 2013, 07:48 PM

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QUOTE(MNet @ Mar 23 2013, 07:38 PM)
user posted image

Under
"Insurans pendidikan dan perubatan
Education and medical insurance"

I just fill in the total amount of Medical Insurance Premium+ Medical/ Life Insurance Premium ?

1,300.64 + 154.66 ?
*
did you read carefully?

medical/life insurance can only claim 60% at medical insurance portion
SUSMNet
post Mar 23 2013, 07:50 PM

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David83

yes i also think so.

nothingz

are u sure?
SUSDavid83
post Mar 23 2013, 08:00 PM

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So would it be like this then?

1,300.64 + 154.66 * 0.60

And 154.66 * 0.40 + 744.70 goes to Life?

Ha! Ha! It's so confusing. Which company is the insurer?
SUSMNet
post Mar 23 2013, 08:30 PM

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i think the insurer already x60% of the value.
december88
post Mar 23 2013, 11:12 PM

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Can I know if I need to file an income tax assessment if:

a) No prior tax assessment submission before, because I only started entering the labour force last year
b) I started work in Oct 2012 and my pay slip from Oct - Dec 2012 there was no tax deduction except EPF & SOSCO.
c) Since the start of 2013 my pay is deducted for tax.

So do you reckon I have to file assessment this year based on Oct 2012 - latest payslip OR Jan 2013 - latest pay slip OR I start filing next year?

And can a first time taxpayer file assessment online?

Thanks for the help.
ronnie
post Mar 24 2013, 02:04 AM

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QUOTE(MNet @ Mar 23 2013, 07:38 PM)
user posted image

Under
"Insurans pendidikan dan perubatan
Education and medical insurance"

I just fill in the total amount of Medical Insurance Premium+ Medical/ Life Insurance Premium ?

1,300.64 + 154.66 ?
*
You can claim only RM1300.64 under ""Insurans pendidikan dan perubatan" Tax Relief

nothingz
post Mar 24 2013, 09:38 AM

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QUOTE(MNet @ Mar 23 2013, 07:50 PM)
David83

yes i also think so.

nothingz

are u sure?
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such term medical/life insurance premium can claim 100% under life insurance or 60% under medical insurance. the explanation behind the Great Eastern yearly statement is very clear.

ING insurance also has similar type of insurance which they categorised it as Critical Illness, such theory apply if i am not mistaken. so please read the explanatory note below your premium amounts. Only 60% premium qualify for medical insurance relief. Else you can claim 100% under life insurance + EPF relief. Claim either one only

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