Wouldn't mind at all !

In general it looks like it. But if we go deeper into this 1 tier dividend, we will also find out that those whose tax bracket is below 25% will lose out. Those who are in the 26% will save 1% tax.

So there is a difference in tax advantage on this 1 tier dividend. It favours the rich who are in the 26% tax bracket

director fee paid in the year needs to deduct for PCB in the next month?

If no deduct for PCB, or missed the proper period to deduct, would it be a company's fault?

Say,
I owed my company 10k last year, this year I take 10k as director fee (proper company resolution filed)

It's just off set during financial year end.

But I didn't deduct for PCB.

Now I have two ways.

One is to let it be. Thinking to pay the extra during BE submission. but there's a risk of company fault as didn't deduct and collect proper PCB on behalf of employee.

Second, since it's an offset approach, I might as well ask auditor to adjust amount owing to director 10k, and other receivables 10k, make them exist, instead of offsetting them. In this case, I'd just pay for PCB whenever I want to receive or off set the amount.

Which approach is better?

Or do you guys have any better suggestion?

I personally think second one works.

When I declared payment of the director fee, then only pay PCB in the next month before 10th of every month.
This is because director fee is taxable on the actual receipt.

I'm like self questioning, and self answering. Just wanna double confirm. Thanks.

This post has been edited by ck23: Aug 14 2013, 09:59 PM

Hi all, i have a condition like this, a months ago i got salary increment to rm3200, which is rm2900 for the basic rate and rm300 petrol allowance, deduction kwsp is rm333.75 and without any other things like OT,additional pay , bla bla.. The problem is the HR did'nt deduct any tax amount from my payslip, so my payment is about 2866.55 after the kwsp deduction. I suppose there would be a tax deduction for those who has salary more than rm2500 ?
I had simulate my salary details with PCB calculator from the LHDN, it did has tax deduction for rm16. But what makes me confuse is that the petrol allowance should have been exempted from the tax deduction from what i heard. The PCB calculator didn't provide any option to exempt the petrol allowance, if i deduct the petrol allowance manually from the total remuneration (rm3200 - rm300 = rm2900), the pcb calculator generate the results without any tax deduction. This really makes me confuse......... Anyone can enlighten me about this scenario?

This post has been edited by zdince: Sep 1 2013, 02:51 PM

allowances if it is fixed every month will be taxable.

Petrol allowance (or any other allowance, OT, claims.) are included in tax calculation.
Therefore it is 3200 x 12 months = 38,400 p.a. (assume no other bonus/incentive/commission/etc.)
A rough calculation is 38,400 less 9k personal is already <30k taxable amount (not yet reduce EPF, insurance, etc.)
General consensus is not within taxable bracket, hence HR did not include PCB in your monthly salary.

However, you still need to declare and submit your income tax every year. Just not taxable (for now) only.



On another side note, company is smart by giving a lot of allowances, which they do not include into EPF.
e.g. in your given sample, 333.75 minus Socso 14.75 = rm319 (employee EPF)
Reverse from EPF 3rd schedule, your salary is 2,900 (correct as you mention).
Hence, employer contribution is rm377

If EPF is calculated base on 3200 (as your basic, instead of various types of allowances),
employee EPF: 352
employer EPF: 416
socso : still 14.75

Although your total EPF (employee) deduction increase from 319 to 352, the money still goes into your EPF. No problem here.

The problem is, employeR save money by banking into your EPF, rm377 only, instead of rm416.
Employer save RM39 per month
Imagine how much they can save if they have a lot of employees.

On your side, you will have less rm39/mth in EPF savings, and this will affect your future withdrawal (age 55, house purchase, education, investment)

Thank You So much for the informations! The "less 9k personal " is personal tax relief? The tax deduction is base on year instead of month ?Why I keep seeing the tax deduction base on the monthly rate in something like this
http://www.hasil.gov.my/goindex.php?kump=5...it=5000&sequ=11 . I did'nt saw anything like over 30k would be trigger the tax deduction. Is that means after the latest salary for years sums up, the tax deduction rate would be take into account if the total is over 30k?

This post has been edited by zdince: Sep 4 2013, 01:14 AM

The amount 9k is annual amount.

The monthly PCB deduction from your salary is just an estimation. It depends on whether your company is using old or new PCB table. For more details, you should clarify with your company HR.

Ultimately, everything will be lumped together and calculated in annual basis.

hi all, I'm working under a company and I own an enterprise register under sole provider. Say I'm getting a commission like RM12k this month, how much do I need to pay tax for such amount? thanks

Hi guys, any tax professionals here who I can engage to do my sole proprietorship business tax and accounts? Thanks.

is your business well documentated?

to all taikor here. i am a newbie in this forum.

can i ask what is the benefits or tax saving if i set up a company and register the properties that i own? how can we save from paying tax? thanks in advance for all advice.

I do e-commerce, selling products online. I have all invoices and documents as well as finances recorded in Excel. Boleh jalan ah?

hi i know can claim pc by income tax
can i know printer and other pc hardware
can i claim it?

do you mean setting up a investment holding company?

If the property is already owned by you, the title is belong to you, not the company.

I received a letter from LHDN asking to pay the extra tax, but the thing is, i don't even know how they calculate the amount and why do i have to pay the extra tax.

could anyone please advise?


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Call them to seek clarification.

submitted the required documents for 2011 but yet the income tax department send me letter asking submit the same documents again.....


2. how do i show/submit documents to the claim on the suami/isteri part? since suami/isteri tak bekerja was the selected option? (rm3000K rebate)
what documents to give them?

edit

This post has been edited by royalz: Sep 22 2013, 12:59 PM

Dear Sifu,

May I know is there a minimum amount for refund? I know sounds funny. But for my case is only about RM5. Is not so much about the RM5, but until now did not received any email or letter.

Should I contact them, or just ignore....

hi guys...i just registered for income tax last year end...i heard that buying sports equipment are tax deductible....i just bought some gym equipment, is this consider as sports equipment and can i use the receipt to deduct my income tax???