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 Income Tax Issues v2

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SUSDavid83
post Nov 22 2013, 12:05 PM

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From 2014 onwards, you may choose not to file if you're satisfied with monthly PCB deduction and has no relief to claim back. This is according to Budget 2014.
SUSDavid83
post Nov 26 2013, 07:37 AM

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QUOTE(ableze_joepardy @ Nov 26 2013, 12:13 AM)
in 2014 budget ah jib gor announced rm2k tax relief for those who earned <rm8k per month rite? this one will effective in 2014 filing? bcoz other income tax incentive only effective in 2016 filing.

8k per month means 96k per year inclusive bonus? or purely gross salary?
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Should be per gross and inclusive of bonus and allowances. That's only for rough estimation if you get what I meant.
SUSDavid83
post Nov 26 2013, 12:07 PM

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"To further assist this group, the Government proposes a special tax relief of RM2,000 be given to tax payers with a monthly income up to RM8,000 received in 2013," he said

Income received in 2013 meaning it's start from YA2013 which will be filed March/April 2104.

URL: http://www.thestar.com.my/News/Nation/2013...Income-Tax.aspx
SUSDavid83
post Nov 26 2013, 01:35 PM

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QUOTE(ableze_joepardy @ Nov 26 2013, 01:34 PM)
so now for those earning < 96k per year will get 11k individual tax relief instead of 9k now right?
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Technical yes. Perhaps they're enhancing the system now.

Wait for official statement from LHDN.
SUSDavid83
post Dec 4 2013, 10:12 PM

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QUOTE(yklooi @ Dec 4 2013, 09:48 PM)
saw this on the web...you need to confirm the authenticity....

the Ministry Of Finance had on 20th March 2013, issued a letter stating that an individual is eligible for personal relief for the purchase of a personal computer under paragraph 46(1)(j) Income Tax Act 1967, which is defined to be a desktop computer, a laptop computer, Notebook and Ultrabook not used for the purpose of a business. Therefore, this means that other gadgets that are able to perform functions similar to a computer, for example tablet, iPad or handphone NO LONGER qualify for a deduction for the purchase of ‘personal computer’.

http://malaysiantaxation101.com/2013/08/pe...new-definition/

and once every 3 years
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I think I shared this before previously and my friend shared a letter from LHDN regarding this clause.

This post has been edited by David83: Dec 4 2013, 10:12 PM
SUSDavid83
post Dec 10 2013, 12:36 PM

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QUOTE(Dkck @ Dec 10 2013, 11:34 AM)
Want to ask , i lost my tax receipt, any solution to get the receipt again because i want to apply for something. THanks
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Try to login to eBe.
SUSDavid83
post Dec 11 2013, 09:58 PM

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QUOTE(Omega Z @ Dec 11 2013, 09:57 PM)
I am working in an audit/tax firm right now for my internship program and boy, there were lots of people who
faced the same situation like you do.

They came to the office bring a letter from LHDN, demanding them to pay the fines. Some even had multiple fines.

Even the dead wasnt spared.

Income tax department no money these days?
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With e-filing, they're too free to dig into citizens dirt instead of cronies corruption.
SUSDavid83
post Dec 13 2013, 09:16 AM

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QUOTE(iamnew @ Dec 13 2013, 09:04 AM)
Hi Guys,

Im working in an MNC as sales & business development

I recently got income tax deduction at higher rate due to higher commision given.
My previous pay for jan13 to jun13 is rm5600 gross. then from july to august averagly rm6500. then on november shoot up to Rm9000 due to commision mistake in october. my HR deducted around rm950 (10%) for income tax..
is it so much..and i dont know how to count..

My gross up to date is rm70000

can anyone enlighten me?
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Using 2012 PCB table, gross monthly income of MYR 9000 will lead to monthly PCB payment of MYR 940 at the MYR 8001 to MY 8050 bracket for single category.

MYR 9000 * 0.89 = MYR 8010 after EPF deduction


This post has been edited by David83: Dec 13 2013, 09:17 AM
SUSDavid83
post Dec 19 2013, 09:05 AM

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QUOTE(jasmineh2y @ Dec 19 2013, 08:03 AM)
No more broadband relief? serious..
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Yes.

» Click to show Spoiler - click again to hide... «


URL: http://www.hasil.gov.my/goindex.php?kump=5...3&unit=1&sequ=1
SUSDavid83
post Dec 19 2013, 04:32 PM

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QUOTE(MGM @ Dec 19 2013, 10:37 AM)
The table shown doesn't include the special relief of rm2000 which was announced at the 2014 budget.

Don't tell me this is just a proposal and not confirmed yet?
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Let's wait for announcement from LHDN.

The additional 2k self-relief has hidden clause and it's not a general relief that applicable to all income brackets.
SUSDavid83
post Dec 30 2013, 05:55 PM

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QUOTE(mystvearn @ Dec 30 2013, 04:22 PM)
I am a government servant.

I read the sticky links from the first post and have few questions. If your basic pay entitles you to pay income tax, is there an automatic deduction process which you can fill out, or must you always fill it in every year? Saves time and less headache that way.  Or is not recommended.

Tax is only on basic pay and not allowance right?
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Not sure about government sector but for private sector:

Taxable income includes basic pay + fixed allowance

If allowance is given under BIK, then it's not taxable.

Next for monthly deduction under PCB scheme, usually the HR or account payable will do this; meaning the received paycheck has deducted for EPF, SOCSO and PCB. However, to create for income tax file number, it varies from company to company. This is only applicable for general situation.

Lastly, under Budget 2014, if you're satisfied for the monthly PCB deduction and has noting to claim from relieves/rebates, you may opt to not filing.
SUSDavid83
post Dec 30 2013, 06:53 PM

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QUOTE(mystvearn @ Dec 30 2013, 06:30 PM)
Thanks for the explanation. I heard that if you keep claiming max rebates, IRB will want to audit you even though the process is "random". Is this true?
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Audit is subjective. Hard to say. Sometime, it also depends on luck.

Usually, they'll audit those with irregular or inconsistent claim on rebates such as home loan interest and etc.
SUSDavid83
post Jan 3 2014, 08:52 AM

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QUOTE(zeese @ Jan 3 2014, 08:49 AM)
hi guys..
can I get a tax relief for exercise books (buku garis 1, buku latihan matematik, buku lukisan, or other blank books used by students for taking notes)...

I'm tired of googling.. all info i got was just about books, journal, magazines, but i've no idea about exercise books..

Thanks..
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Definitely not. It's not really a "book" for reading.

The relief is introduced to foster reading culture among Malaysians and to hope to improve literacy and knowledge through reading.
SUSDavid83
post Jan 3 2014, 07:09 PM

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Guys, please move to next version:

https://forum.lowyat.net/index.php?showtopic=3087789

Thank you.

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