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 Income Tax Issues v2

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larrytty
post Dec 18 2013, 05:24 PM

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QUOTE(bounty_hunt3r @ Dec 18 2013, 03:46 PM)
So my paypal transaction will good enough? Print my buying transaction on paypal will do, right?

What about Maybank2u? It didn't write clearly about the name of the product.

Thanks a lot biggrin.gif
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your bank statement is a good supporting document.
its best u note down and know the payments
MGM
post Dec 18 2013, 08:55 PM

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Just want to reconfirm the following for Year of Assessment (YA) 2013:
1) On top of rm9000 personal relief there is an additional special relief of RM2000
2) No more broadband relief
3) tax rate for bracket rm35000-50000 is 11%

Any other changes compare to YA 2012?

Also time to buy books & sports equipment, & annual medical checkup and topup for SSPN and PRS.

This post has been edited by MGM: Dec 18 2013, 09:21 PM
jasmineh2y
post Dec 19 2013, 08:03 AM

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QUOTE(MGM @ Dec 18 2013, 08:55 PM)
Just want to reconfirm the following for Year of Assessment (YA) 2013:
1) On top of rm9000 personal relief there is an additional special relief of RM2000
2) No more broadband relief
3) tax rate for bracket rm35000-50000 is 11%

Any other changes compare to YA 2012?

Also time to buy books & sports equipment, & annual medical checkup and topup for SSPN and PRS.
*
No more broadband relief? serious..
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
MGM
post Dec 19 2013, 10:37 AM

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QUOTE(David83 @ Dec 19 2013, 09:05 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?



This post has been edited by MGM: Dec 19 2013, 10:42 AM
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.
ronnie
post Dec 19 2013, 10:00 PM

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5 year-end tax moves that will blow your mind
pisces88
post Dec 19 2013, 10:26 PM

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for a sole prop, to give a gift or lucky draw during event, how to deduct as expenses? under which category?
Ahkwang
post Dec 20 2013, 12:18 PM

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Hi, how do i check if my company has paid my income tax?
ronnie
post Dec 20 2013, 01:17 PM

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QUOTE(Ahkwang @ Dec 20 2013, 12:18 PM)
Hi, how do i check if my company has paid my income tax?
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Login to https://elejar.hasil.gov.my/index.php using your e-BE logon credentials.
leongsem
post Dec 30 2013, 03:04 PM

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just one to ask, if both husband and wife are working, both also can claim 1000 for children under 18 year old or only one party can claim only?

thank you.
conqu3ror
post Dec 30 2013, 03:07 PM

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QUOTE(leongsem @ Dec 30 2013, 03:04 PM)
just one to ask, if both husband and wife are working, both also can claim 1000 for children under 18 year old or only one party can claim only?

thank you.
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Only either one parent can claim the child relief or both claim 50%/50%.
mystvearn
post Dec 30 2013, 04:22 PM

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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?
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.
mystvearn
post Dec 30 2013, 06:30 PM

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QUOTE(David83 @ Dec 30 2013, 05:55 PM)
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.
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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?
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.
ronnie
post Dec 30 2013, 11:09 PM

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QUOTE(leongsem @ Dec 30 2013, 03:04 PM)
just one to ask, if both husband and wife are working, both also can claim 1000 for children under 18 year old or only one party can claim only?

thank you.
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One child Tax Relief can be claim by one of the parent only or 50-50.
So you need to get another child whistling.gif whistling.gif

This post has been edited by ronnie: Dec 30 2013, 11:10 PM
leongsem
post Dec 31 2013, 08:45 AM

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QUOTE(ronnie @ Dec 30 2013, 11:09 PM)
One child Tax Relief can be claim by one of the parent only or 50-50.
So you need to get another child  whistling.gif  whistling.gif
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so bad, one month already spend more than 1000, annually can claim 1000 nia

stupid
LostAndFound
post Dec 31 2013, 08:47 AM

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For skim pendidikan, its claimable under the 'insurans pendidikan dan perubatan' right? What about schemes like http://koppbhd.com/en/koppscholarshipfund.php ?

EDIT: Called KOPP, they have no idea, but when I called LHDN the lady said can.

Also, I was mistaken, SSPN is under its own separate RM6000 limit (separate from RM3k for insurans pendidikan dan perubatan)

This post has been edited by LostAndFound: Dec 31 2013, 10:23 AM
ronnie
post Dec 31 2013, 11:34 AM

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QUOTE(leongsem @ Dec 31 2013, 08:45 AM)
so bad, one month already spend more than 1000, annually can claim 1000 nia

stupid
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That's how stupid over Income Tax system is....

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