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 Income Tax Issues v2

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CKJMark
post Apr 14 2013, 04:55 PM

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QUOTE(LYR @ Apr 14 2013, 04:35 PM)
since you mentioned that i would be a tax resident if i stay in MY for >90 days in 2013. hence, at current stage, i would still be considered as a non-tax resident right?  rclxub.gif
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That depends how many days you have been in Malaysia. It's now 14 April. That's more than 90 days if you count from 1 Jan.

But if you don't have 90 days then you are not a resident. I am not sure but maybe you can apply for a refund after you exceed 90 days? Best to check with IRB on the procedure for this.
CKJMark
post Apr 15 2013, 12:34 PM

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QUOTE(Suicidal Guy @ Apr 15 2013, 12:51 AM)
Hi..

Anyone can advice on my situation?

I left Malaysia to work overseas since May last year. From my research on the World Wide Web, my now ex-employer need to submit CP21 form to LHDN to declare that I'm leaving country and declare the amount of income till date. Question is.. how do I know if my ex-employer have submitted the form?

Also I have a few months PCB deducted from my salary. In the CP21 there is nothing about the PCB deducted. So, is it my ex-employer need to issue the EA form so I can claim back my PCB through e-filing?
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CP21 is an employer obligation to inform IRB of staff leaving the country. I guess they should give you a copy but they are not obliged to as far as I know, I could be wrong on this point.

Regardless of the CP21, yes your employer should have also issued you a Form EA
CKJMark
post Apr 15 2013, 12:35 PM

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QUOTE(Benny-T @ Apr 15 2013, 11:29 AM)
guys i wanted to ask
can i submit 2 different forms for income tax?
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What do you mean? Wat type of form are you referring to?
CKJMark
post Apr 15 2013, 01:59 PM

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QUOTE(Benny-T @ Apr 15 2013, 01:32 PM)
okay
i'm under employment here in KL
decided to declare income
an on the other side
i have a business in ipoh
which my partners have submitted everything to an accountant to decalre tax

so in the end

i am declaring one set in kl
and another set in ipoh

2 submission

will that be an issue?
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The location of your income is not relevant. You should file one combined return form.

If your business a partnership or a company?

If it is a partnership, you need to identify who is the partner filing the form P (to declare the partnership income). If this is not you, then you need a copy of the Form CP30 to find out how much is your share of the partnership to declare in your Form B.

If it is a company, then your income would be in the form of dividends. Then you only file a Form BE, not a Form B.
CKJMark
post Apr 15 2013, 03:31 PM

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QUOTE(Coconut @ Apr 15 2013, 03:26 PM)
For dividen receive from klse stock and reit, which is which that i can claim back?

From the statement, i see "Malaysian tax withheld 10%, income tax 25%, and non taxable income", which column i should look for?
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You subject the "taxable income" to tax in your Form B/BE

You claim a relief for the "Malaysian ax withheld" and "income tax"

If there is a refundable difference, you get a refund. Or if there is a balance to pay, then you pay the difference.
CKJMark
post Apr 15 2013, 05:15 PM

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QUOTE(Joy~ @ Apr 15 2013, 04:36 PM)
Just found out this: 60% of Medical/Life insurance premium is claimable under medical insurance tax relief of maximum RM 3,000

I got a Medical/Life insurance policy.  If my EPF already took up RM6K, that mean I could claim 60% of Medical/Life insurance premium under medical insurance tax relief??  Last year I only claimed the medical premium sad.gif which is lower than 60% of medical/life premium.

Please advise...thanks
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Correct
CKJMark
post Apr 16 2013, 10:42 PM

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QUOTE(tiramisu83 @ Apr 16 2013, 07:47 PM)
Guys, in the section Tuntutan Pelepasan (Deduction Claim), 4th item Individu yang kurang upaya (Disabled individual) can claim up to 6000, is it means that if one of my family member has difficulty to walk, is this consider as kurang upaya?
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This is a self relief, and must be registered as orang kurang upaya
CKJMark
post Apr 16 2013, 11:50 PM

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QUOTE(ronnie @ Apr 16 2013, 11:31 PM)
Is payment for e-BE also extended to 15 May 2013 for e-Filling ?
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Usually yes, coz you can't determine how much to pay until you submit
CKJMark
post Apr 17 2013, 12:23 AM

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Scroll up a few pages. This topic was discussed a few weeks ago
CKJMark
post Apr 17 2013, 12:31 AM

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It should have gone into the specific bank account as per your form b/be. Check a few dates before/after that date. Sometimes got delay. It could also have been set-off against your back taxes.

Best call the collections dept or see the collections officer to confirm. They can tell you how it was repaid.
CKJMark
post Apr 17 2013, 11:54 AM

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You don't have to fill that up. That is for income received this year that was earned in prior year. Your preceding years was received in the preceding years, correct?
CKJMark
post Apr 17 2013, 02:09 PM

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QUOTE(Serendipity123 @ Apr 17 2013, 12:26 PM)
Thanks for your reply.

But doesn't 'Income Of Preceding Years Not Declared' means my income from previous 2 years that I did not declare?

Addition : Do I need to declare anywhere that I failed to file my income tax (I did pay PCB though - but very small amount only) for the previous 2 years?

Sorry, a bit blur.
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Refer to Page 14 of the Guidebook :- http://www.hasil.gov.my/pdf/pdfam/BE2012_Guidebook_2.pdf

This section is in relation to income from the preceding years received in the current year. For example, last year your boss owe you salary, this year only you receive it.

This section is not for last years income received last year but not declared.

You should find out from IRB whether you need to file for the last two years. I am guessing that since you paid PCB in those two years, you probably may want to consider filing those years to see if you have a tax refund (since you say you are not taxable but paid PCB). Do a rough calculation to see if you are refundable for the prior years.
CKJMark
post Apr 17 2013, 10:47 PM

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QUOTE(Joy~ @ Apr 17 2013, 09:49 PM)
Is this stated in the LHDN guidebook? I just wonder whether this is given by LHDN? smile.gif
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It's stated on you insurance premium annual statement.
CKJMark
post Apr 17 2013, 11:44 PM

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Actually the exemption on FD and savings account interest is not because it's a time deposit. It's an exemption granted to individuals under law.

http://www.treasury.gov.my/pdf/percukaian/...stem%202008.pdf

Refer to page 17 from this extract frm MOF's website.

Generally, interest from FD and savings account where the deposit is under RM100K and for a period of less than 12 months is exempt from income tax in the case of individuals? It's an exemption granted by way of gazette order effective 2008

This post has been edited by CKJMark: Apr 17 2013, 11:56 PM
CKJMark
post Apr 17 2013, 11:58 PM

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QUOTE(jschua @ Apr 17 2013, 11:50 PM)
Perkuisit sama ada dalam bentuk tunai atau barangan berkaitan
dengan penggajian pekerja...

Is it included in the Pendapatan berkanun penggajian
Statutory income from employment where I need to manually deduct off from it or it has already been excluded from that?
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Why are you excluding perquisite and benefits in kind from your statutory income from employment? They are taxable as employment income. Generally it should be in your EA Form and should be taxed as part of employment income
CKJMark
post Apr 19 2013, 11:19 AM

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QUOTE(Joy~ @ Apr 19 2013, 11:09 AM)
"60% of Life/Medical premium paid is eligible for tax relief of medical policy"
So far, I only saw the above statement printed on the Annual Premium Summary of Great Eastern Life.

For Prudential premium statement, didnt have this statement.  Inside Prudential Premium statement, it stated amount paid for Life and Medical separately.  The Medical amount is less than 60% of the total premium paid.

I cannot claim my Life premium bcos the EPF already took the RM6K relief.  So I am thinking to claim the 60% of Life/Medical premium under the medical relief....Is it ok to do so although Prudential annual statement didnt say "can claim 60% ..." thing??
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You claim based on what the statement says. If the statement already split life and medical, then you claim based on what they split.

The 60% proportion is not a rule, it is the insurance company helping you split. It may or may not be 60% depending on your policy and cover.
CKJMark
post Apr 20 2013, 11:10 PM

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QUOTE(PeowYong @ Apr 20 2013, 10:32 PM)
i just got married last year, how should i file the incometax?
need to do for both me and my wife?
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If your wife is employed or working then usually it's etter to file separately.

If you or your wife have no income then file a joint assessment
CKJMark
post Apr 24 2013, 11:54 AM

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QUOTE(DannyMc @ Apr 24 2013, 11:49 AM)
Hi guys,

If I have a sole proprietorship (enterprise)  & i don't have single income for that business.

Then, still need to submit Borang B? Can i just like , ok, not making money at all, submit Borang BE.
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Wouldn't that mean you are making a loss instead? You would still want to file a Form B to track your business losses.
CKJMark
post Apr 30 2013, 09:42 AM

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QUOTE(sykz @ Apr 26 2013, 07:55 PM)
Hi all,

Kindly advise.

Working + doing side business (sole prop.) still need to declare tax for my business? Co. registered this year January and no income so far.
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If you are making losses you should report it so that you can use the losses in future when your business is profitable
CKJMark
post Apr 30 2013, 09:51 AM

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QUOTE(mickey96 @ Apr 26 2013, 09:09 PM)
hi, may i know an employee get monthly salary and also got site income. which form to file? if file borang BE, where to fill in site income commission. Thanks.
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If the side commission income is actively earned, like insurance agent / unit trust agent meeting clients actively, you can treat it as business income and file a Form B. the benefit of doing this is so that you can claim your expenses spent to earn this commission too if you have the receipts.

Alternatively, if the side commission income is not very active, you can tax it under "other income" in the Form BE. This is the box just before "aggregate income"

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