2) Follow payment date.

u can't just minus 25% with 7% bsc 25% is based on dividend and 7% is based on your CI - both are not common. You only can minus through their absolute value

Ex:
7% of your CI (RM15,000) = 1,050
25% of your dividend (RM1,000) = 250

Thus, 1,050 - 250 = 800 and 800 is neither 18% of your CI nor your dividend .



As for the zakat, since you mentioned that due to your zakat, u ended up need not have to pay any tax, I assumed that on bahagian E9 has to be zero. And on bahagian E11 (S110) is RM250 (by using the above numbers as an example). Therefore, you'll get back all your 25% deducted tax under bahagian E15 (Cukai Dibayar Balik) bsc your E9 is zero .

This post has been edited by countdown: Apr 18 2012, 05:32 PM

I hv no idea, just give them a call to confirm. Mine? Tax agent will do everything for me .

This post has been edited by countdown: Apr 19 2012, 02:11 AM

How to reduce ur tax legally, go to this website. Please take note, some of the tips are outdated .

http://www.malaysia-kini.com/blog/2011/02/...educe-your-tax/

This post has been edited by countdown: Apr 20 2012, 11:05 PM

a) U can deduct ur parking fee portion that was incurred to carry out company's duty, max tax deductible is at the total allowance given. Home to office -> taxable. Incurred parking fee when engaging company's clients -> not taxable.
b) Similar to above. From home to your office -> taxable but to your company's clients premise, venue or etc -> not taxable.
c) Similar to above.
d) Not taxable if that's the requirement from your company to carry out company's duty.

This post has been edited by countdown: Apr 22 2012, 11:37 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.

This post has been edited by countdown: Apr 23 2012, 03:28 PM

yupe

Interest like FD and savings accounts from Financial Institution is not taxable.

Interest Housing Loan exemption given at that specific time frame was an initiative by government to boost the local housing market. Remember 2009 there was a global recession?

This post has been edited by countdown: Apr 25 2012, 10:36 PM

Most of Tax relief is per year basis, can't carry forward i.e burnt if not utilized except few.

Ans:

http://forum.lowyat.net/index.php?showtopi...&#entry49839156
http://forum.lowyat.net/index.php?showtopi...&#entry49757417

I'm bringing my 2 years old laptop into my sole prop business. How do I justify the Qualifying Expenditure of my laptop for Capital Allowance?

For a car, I can check via my insurance to know the current market value, how about laptop then?

Is it true that when you bring an existing car, a car that you use during your employment and now use for business only can claim Annual Allowance and no Initial allowance of the market value the moment you start your business?

Thank you,

This post has been edited by countdown: Jun 29 2012, 03:32 PM