Welcome Guest ( Log In | Register )

Bump Topic Topic Closed RSS Feed
6 Pages < 1 2 3 4 5 > » Bottom

Outline · [ Standard ] · Linear+

 Income Tax Issues v2

views
     
cute_boboi
post Mar 2 2012, 05:43 PM

° 忍 °
*******
Senior Member
6,462 posts

Joined: Nov 2004
From: [Latitude-N3°9'25"] [Longitude-E101°42'45"]


QUOTE(flodder @ Mar 2 2012, 04:27 PM)
medical insurance max 3k so if patient need with operation there no extra included for?
*
Medical insurance is not medical expenses.

Medical insurance is the insurance you pay to buy like hospitalization, surgery, Op Theatre, etc.

Medical expenses therefore are paid by the insurer, not you.

However, if you need to top up the surgery, etc. that is not consider as "Medical Insurance"

QUOTE(xtjs @ Mar 2 2012, 05:27 PM)
another headache, income tax hotline says can only claim spouse medical insurance  if do taksiran bersama

can anyone confirm?
*
Well, LHDN hotline already confirm. Who is the better authority on this ?
Otherwise, try email them as suggested. At least you have black and white in case later LHDN audit you for wrong submission, provided LHDN reply email to you and say can.

cute_boboi
post Mar 6 2012, 11:21 AM

° 忍 °
*******
Senior Member
6,462 posts

Joined: Nov 2004
From: [Latitude-N3°9'25"] [Longitude-E101°42'45"]


QUOTE(David83 @ Mar 5 2012, 08:59 PM)
Wow, e-BE got so advanced? hmm.gif
*
QUOTE(heizad @ Mar 5 2012, 10:17 PM)
however for my case, i claimed mine for 2010 but the field still not greyed out...
*
I'm curious, so I checked mine.
2011 for YA2010 I claimed PC RM3,000.

Today I check
2012 for YA2011 = PC field is not disabled. But hovering mouse over Info, it says field will be disabled if claimed in recent 2 years. rclxub.gif

QUOTE(Intel@Atom @ Mar 6 2012, 09:48 AM)
i always did that but forgot where I have put for the 2010 version.. sad.gif

btw, for the insurance tax relief. i bought a GE 6-in-1 insurance with monthly RM150, do I need to split out the RM150 to life, medical and etc or just RM150*12 months?
*
If your EPF + Insurance does not exceed RM6k, just lump it all together.

If exceed, try ask GE for breakdown so that you can claim:
EPF + Life Insurance = max 6k
Medical Insurance = max 3k

cute_boboi
post Mar 6 2012, 05:50 PM

° 忍 °
*******
Senior Member
6,462 posts

Joined: Nov 2004
From: [Latitude-N3°9'25"] [Longitude-E101°42'45"]


QUOTE(renjiv2 @ Mar 6 2012, 04:45 PM)
Sorry for nop question. I 1st time doing e-filling & i hav fill in my info into wrong section & had summited few paged & stop whn i find out sumthing mistaken. Suppose to fill in on e-BE but i mistaken fill it on e-E  doh.gif
Any chance tat i can erase it?
*
As long as you not yet submit and get the "pengesahan" chop, no worries.
Just go back clear everything and same as empty.
Logout, and login to correct e-BE form to fill up again.

But if you fill up e-B , should not have major problem also, since you submit before end-June.
If get audit, just say you join Amway/Cosway, but no sales and profit.
If don't get audit, just leave it. Next year submit e-BE.

If want to follow 100% full procedure, and you already submit "pengesahan", then goto LHDN, find officer, lodge case to inform them, then you may need to re-submit e-BE again, etc.

cute_boboi
post Mar 7 2012, 05:37 PM

° 忍 °
*******
Senior Member
6,462 posts

Joined: Nov 2004
From: [Latitude-N3°9'25"] [Longitude-E101°42'45"]


QUOTE(lewmoker @ Mar 6 2012, 10:49 PM)
just filling up my e-filing and quite shocked with my finding...
2011 compare to 2010 my income increase single digit percentage but tax increase 400% yo...
still not dare to submit the e-BE...
i'm working, my wife is housewife, have a daughter, continue my study, pay zakat but the tax increase is crazy...
the tax exemption part is very little compare to expenses i've made throughout the years...
*
It's normal, when you jump to the next tax band % , first you'll get

ohmy.gif

Split seconds later, you'll get this

shocking.gif

After 1-2 minutes, you'll get back to reality and

shakehead.gif

For the next few hours/days, you'll be

blink.gif and/or cry.gif

Wait till you reach 26% and no where else to deduct/rebate -> vmad.gif

That is why I support GST, and to reduce income tax rate. Tax on your expenses rather than income.

Add-on: That is why in some countries, people choose not to go for higher salary or overtime/extra pay, as that will lift them up the the next scale and the net salary will be lower than current. Die die go back 6pm+, don't want auto-OT payment laugh.gif

QUOTE(lewmoker @ Mar 7 2012, 04:28 PM)
i think i'm quite emo at this point of time where i watch the money i hardly earned taken away in non proportion to my income increase...
i agree zakat payer got a bit specialty in this but then as middle income earner like me the situation didnt differ much.
my main point is the proportion is not equal at all....
*
If you start to join the 12-15% scale, you are starting to get into the middle income group. Welcome rclxms.gif

cute_boboi
post Mar 7 2012, 07:37 PM

° 忍 °
*******
Senior Member
6,462 posts

Joined: Nov 2004
From: [Latitude-N3°9'25"] [Longitude-E101°42'45"]


QUOTE(xjeez @ Mar 7 2012, 06:42 PM)
It gets much worst when you hit 50k, where you pay 19% of your excess compared to 12% in the previous bracket.

Considering someone on a 3.5k salary can hit it with bonus, its not exactly 'rich' people that's forced to part with 1/5 of their extra income.

Unfortunately until GST is implemented, the government relies on such taxes for income apart from the depleting oil money  cry.gif
*
For 50k-60k p.a. income (without zakat), I recall, net taxable should be around 1.5k-2k+

For 60-80k, about 4-6k
For 80k-100k, about 8k-12k
>100k @26% ... a rough way to calculate tax is net 20% of income (after relief, deductions, etc.).

Start with this first -> ohmy.gif

laugh.gif

cute_boboi
post Mar 8 2012, 03:56 PM

° 忍 °
*******
Senior Member
6,462 posts

Joined: Nov 2004
From: [Latitude-N3°9'25"] [Longitude-E101°42'45"]


QUOTE(engel @ Mar 7 2012, 10:37 PM)
im a real estate agent with no basic so i need to fill up wat form for income tax apply borang B or BE?i need a professional advice, because every one tellin me diffrent thing
*
e-BE is for individual salaried worker.

e-B is for individual salaried worker as well, AND/OR also with own business.

Therefore, you fall under e-B form, as your RE is consider as own business (whether part-time income, sole-prop, partnership, sdn bhd).

cute_boboi
post Mar 19 2012, 12:30 PM

° 忍 °
*******
Senior Member
6,462 posts

Joined: Nov 2004
From: [Latitude-N3°9'25"] [Longitude-E101°42'45"]


QUOTE(a-ei-a @ Mar 18 2012, 03:00 PM)
Hi Guys,

Need your advice, last year I have annual leaves converted to cash when I leave my previous employer. Does the annual leaves amount consider as part of the taxable income? I thought it should be non-taxable?

Thanks in advance.
*
Your previous company should have included it into the EA form.

And yes, it is taxable.

QUOTE(lovecorruption @ Mar 19 2012, 01:05 AM)
income tax... a lot teenager no need pay tax since the salary so low... eating and owing a house also face problem, where got money pay tax.
*
The point is not about paying tax or not.

The point is, it is the duty and responsibility to DECLARE your income.
From the declaration & calculation, it will determine if the income is taxable or not.
If not taxable, then no need pay anything. Keep the documentation for future use such as house loan, car loan, credit card application, etc.

cute_boboi
post Mar 19 2012, 02:06 PM

° 忍 °
*******
Senior Member
6,462 posts

Joined: Nov 2004
From: [Latitude-N3°9'25"] [Longitude-E101°42'45"]


QUOTE(xtjs @ Mar 19 2012, 01:10 PM)
ea form should have all the details such as income tax no and employers income tax file??

what if the co only provide us a statement which states commision statement? considered ea form? income is  onily commision
*
This will not fall under Penggajian under e-BE. It may fall under:
- Faedah & Diskaun
- Pencen, anuiti dan bayaran berkala lain
- Apa-apa perolehan atau keuntungan lain

Or, declare as e-B under self-employed, since on commision only and no salary. How about EPF ? Perm/Contract staff ?

cute_boboi
post Mar 19 2012, 03:22 PM

° 忍 °
*******
Senior Member
6,462 posts

Joined: Nov 2004
From: [Latitude-N3°9'25"] [Longitude-E101°42'45"]


QUOTE(xtjs @ Mar 19 2012, 03:08 PM)
ic
meaning income tax does not know of this incomE?

like if receive only for a month?
eg. real estate agents
*
If LHDN wants to dig deep down, they can find anything. As they say, in life, you can escape anything (yes, even wife!) , but not death and taxes.

e.g. XXX Realty pay cash voucher RM xxxx to Mr. X
Then they'll dig for Mr. X 's income and expense.
Let's say you get commission RM2k once every 2 months, i.e. 12k/year. Then after 2-3 years, you buy something big like a house/car.
From your income declaration, LHDN will know if it is "reasonable" and "living within means".

If you do not declare at all (even if it is not taxable), no contest already. LHDN 1-0 You

If it is traceable, LHDN can search/link up with EPF, BNM, SOCSO, local govt offices, etc. to find the cheque that you banked in (unless the comm is in real hard cash, but no way to run also, as the Realty has to have cash voucher).
Nowadays, all cheques are scanned in as softcopy and stored permanent/archived by banks. No where to run.

However, given the huge population, LHDN will only do random audits, and see if you are the lucky one whistling.gif
Therefore, it is up to you to follow the rules and keep proper documentation, or ... tidak-apa attitude, cincai-kira, "all my friends/family/boss/company say not taxable, so I didn't declare", "I hate BN/PKR/Independant/etc, I am not going to give money to government", etc.

cute_boboi
post Mar 19 2012, 03:48 PM

° 忍 °
*******
Senior Member
6,462 posts

Joined: Nov 2004
From: [Latitude-N3°9'25"] [Longitude-E101°42'45"]


QUOTE(xtjs @ Mar 19 2012, 03:34 PM)
thanks cute boboi
great explanation

if commision less than 24K, still have to delcare? i thought only if above certain amount must declare?

what about the dividents gains from amanah saham which is tax free.... as i know no need to declare
*
Even ex-government staff with pencen below 1k/month still need to declare (<12k/year).
Or income such as RM100 per month from odd-jobs (for those lowest income earners)
Only thing is, it is not taxable only.

QUOTE
i thought only if above certain amount must declare?

Refer above: "all my friends/family/boss/company say not taxable, so I didn't declare"
Add-on: "many people tell me waste time to declare only. Later they send people audit, more troublesome"
If you have nothing to hide in your income, there is nothing to scare.

Tax free dividends : no need declare. But you may want to make a note yourself what is the amount and from where, etc. Some people have dividends running into 6-digits per year (YES, dividend only, as their investments are 8-9 digits).

cute_boboi
post Mar 19 2012, 06:04 PM

° 忍 °
*******
Senior Member
6,462 posts

Joined: Nov 2004
From: [Latitude-N3°9'25"] [Longitude-E101°42'45"]


QUOTE(georgelimsk @ Mar 19 2012, 04:38 PM)
i just started to do business this month. but i have been doing part time on my business since dec 2010 ( registered a enterprise).

so how much does it cost to do tax for my enterprise?
*
Sometimes, you can't just file all the back-dated income to declare.

If it is small < 10k. My advise (not LHDN) is just to ignore it.

Start fresh with a clean sheet from this year onwards (or last year) and make it a yearly task to declare it, whether profit/loss.

If you've been earning >100k or millions, and you've already bought properties/bungalow, and never declare before, you better go find a tax agent to help you sort it out.

QUOTE(miotot @ Mar 19 2012, 05:53 PM)
My wife and I just got married last year and planning to file tax under joint assessment and both of us are working. However, the system computed that we still need to pay at least 10K RM. Then I try filing separately and we got a rebate of at least 200 RM each. smile.gif Now question is how come our tax for joint assessment is too large compared to the tax payable if filed separately?
*
Sometimes you have to do both joint and separate assessment, with full calculation/deductions/rebates to find the numbers first.
Means 2x single and 1x joint = 3x calculations.

Whichever (in total) need to pay lower tax, pick that one:
(i) 2x single separate assessment ?, or
(ii) 1x joint assessment.

cute_boboi
post Mar 20 2012, 11:27 AM

° 忍 °
*******
Senior Member
6,462 posts

Joined: Nov 2004
From: [Latitude-N3°9'25"] [Longitude-E101°42'45"]


QUOTE(mobio.dev @ Mar 19 2012, 06:08 PM)
hi, just want to ask,
i -  instead of using toll receipt to claim, can use touch n go top up receipt
ii - if bought medicine from farmasi, is it that bill can use for claim for parent medication if bill under parent's name
*
(i) Toll receipt ? deduct under which category ??? hmm.gif

(ii) Pharmacy = no. Must be from doctor/clinic/hospital. Otherwise, if buy from pharmacy, must have the prescription written by doctor due to the medicine not available.
Why general pharmacy purchase not allowed ? Cause you can buy a lot of other things there, i.e. supplements, milk powder, shampoo, snacks, condom, etc.


Added on March 20, 2012, 11:29 am
QUOTE(harrychoo @ Mar 19 2012, 06:45 PM)
1) PC reduction - can i use two receipts of two laptops to max out the 3k? or it only allow 1 PC or 1 receipt?
2) Sport equipment - Sport shoe included?

Thanks.
*
1) PC - 1 complete unit, 1 receipt. Cannot mix and match, i.e. DIY.

2) Sports shoe - no. Most people buy sports shoe are not to execise (sport). They go for travel/tour, or walk in shopping centre or go out ada-gaya (Wow, look at my latest adidang, RM1k+ doh.gif ).


This post has been edited by cute_boboi: Mar 20 2012, 11:29 AM
cute_boboi
post Mar 20 2012, 12:40 PM

° 忍 °
*******
Senior Member
6,462 posts

Joined: Nov 2004
From: [Latitude-N3°9'25"] [Longitude-E101°42'45"]


QUOTE(harrychoo @ Mar 20 2012, 12:33 PM)
Not DIY aka separate PC parts. I bought 2 laptops in different occasion on 2011, both cost 2.2k each.
So also cannot use 2 receipts?  hmm.gif
*
Cannot. Only 1 receipt, and the receipt must be under your name.
» Click to show Spoiler - click again to hide... «


Next time, plan for the 2nd receipt, put under wife or other people's name.

cute_boboi
post Mar 21 2012, 12:22 PM

° 忍 °
*******
Senior Member
6,462 posts

Joined: Nov 2004
From: [Latitude-N3°9'25"] [Longitude-E101°42'45"]


QUOTE(Edison83 @ Mar 20 2012, 06:48 PM)
The part usually almost as same as a full PC just missing something like Casing, CD-ROM, LCD (I plug into TV instead) which I use back from my previous PC
Its a gaming PC, so from the parts there already cost RM3k+
Officially from LHDN, it must be a complete PC set, with monitor (and laptop comes with monitor also). If the printer is bundled in, then can count.
If separate buy printer, then cannot count in.
If you want to risk wrong/false declaration, you can put your 3k+ in. But bear in mind, you have been advised. If get audit or check, don't come back few years later and say LHDN re-calc you owe them money (like the case above).


Ipad also consider PC right?
iPad/iPhone without 3G sim card, can consider as PC, i.e. WiFi unit only.
Bear in mind, if already claim PC above, cannot claim iPad.
1 receipt for PC deduction only.


about the broadband, I know Streamyx and Unifi can claim but the data plan on my phone (Digi) that i have to pay RM68 per month also can count?
As long as broadband. Your RM68 3GB DiGi broadband plan, yes, can.
*

Added on March 21, 2012, 12:30 pm
QUOTE(wongmunkeong @ Mar 21 2012, 08:25 AM)
I had the same issue 4 years ago, where excesses of my 2006 was not released, about $3K. Guess what? LHDN did a full check and calculation from day 1 of personal assessment to 2008 and said i owe them $14k instead! Woohoo...  doh.gif
*
There must be some wrong/false declaration or wrong calculation (on your part for submission), that LHDN has taken out from your deduction. Perhaps a fine is included as well.
You semua-pun-taruh for deduction ? biggrin.gif

It is better for you to setup appointment with LHDN to meet them up (call to check and 100% confirm where they going to bring your physical file, unless they 100% computerised everything, which I don't think so yet.)
On your part, bring all the past 7 years declaration, receipts, proof, etc. Even if it fades out.
Reason such as these will not be accepted:
(1) Lost/misplaced - then take out from declaration
(2) Don't know how to fill up last time - ok, take out from declaration and get fine.
(3) I cheated - kantoi doh.gif

Sometimes, if you can proof to them the deductions are valid, then the re-recalculation may reduce, e.g. from 14k -> 8k-10k
Also, negotiate on the fine (if any).
You can also negotiate for monthly installment to settle the tax due.


This post has been edited by cute_boboi: Mar 21 2012, 12:30 PM
cute_boboi
post Mar 21 2012, 02:43 PM

° 忍 °
*******
Senior Member
6,462 posts

Joined: Nov 2004
From: [Latitude-N3°9'25"] [Longitude-E101°42'45"]


QUOTE(wongmunkeong @ Mar 21 2012, 01:18 PM)
Nah - no false declarations as far as i know. Most probably screwed up due to my ex-employer stating yearly bonus for as earned for PAST YEAR, every donkey year, complicating the calculations. eg. Year 2009 doing tax returns for Year 2008 but in EA form ada $xx,xxx for bonus earned 2007 (paid out in 2008).  doh.gif

Anyhow, cleared liao in that year itself and have a nice clean slate - with this, very fast (comparatively) rebate of extra paid PCB heheh  drool.gif

Thus far, LHDN is logical - eg. they sent me a letter asking me to pay dunno what extra every month coz i've got extra income (commissions from Public Mutual + rental) which i dont pay monthly PCB for. However, i proved to them that EVERY YEAR, i still pay too much and reclaim about $3K+/-, even when i declared all commissions and rental. They accepted and did away with the requirement for extra monthly payments.  thumbup.gif
*
Good to hear everything is in order and you sort it out as well as get back the extra PCB payments. thumbup.gif
There is nothing to scare if everything can show proof to them when audited. Can bang table with them also rclxms.gif Of course, it must be valid.

cute_boboi
post Mar 21 2012, 02:56 PM

° 忍 °
*******
Senior Member
6,462 posts

Joined: Nov 2004
From: [Latitude-N3°9'25"] [Longitude-E101°42'45"]


QUOTE(hitsugaya2010 @ Mar 21 2012, 02:41 PM)
Hi guys, very noob in tax.

Just started paying PCB this year automatically (by company).
How do i get my tax no? Cause i need it to apply for no pin pendaftaran thru online. Is their office open during lunch time? Lastly, when's the last date to declare our income and rebate?
*
Without tax number, your company can't do PCB for you. Therefore, the tax number should be in EA form (for last year). Or you can get the tax number from your company HR.
Remember, tax assessment is always for previous year. i.e. For current year 2012, you only declare all your income and deductions from 1-Jan-2011 until 31-Dec-2011 only. Also, the PCB deducted is to use last years only, as printed on the EA form.

For current year 2012 assessment and PCB can only use for next year declaration.

cute_boboi
post Mar 21 2012, 05:31 PM

° 忍 °
*******
Senior Member
6,462 posts

Joined: Nov 2004
From: [Latitude-N3°9'25"] [Longitude-E101°42'45"]


QUOTE(hitsugaya2010 @ Mar 21 2012, 02:58 PM)
Last year i have not paid any PCB yet. My EA form also did not state any tax number, maybe because i have not start paying PCB. Do i need to declare my income since i have not started paying last year?
*
Officially, yes. You need to declare your income.
From the declaration, it will confirm whether you need to pay tax or not. Then LHDN will not haunt you for not declaring your income (which comes with a fine anyway).

Try call up or email LHDN and give your MyKad number. If they want to help, they will be able to pull out your tax file number and give you.

QUOTE(yiivei @ Mar 21 2012, 03:16 PM)
Based on your information, i assume your annual income has yet to reach the level. Hence, you do not need to declare your income.

FYI, my ex-company hr does provide EA form to all employees irregardless whether they are tax payers or not.
*
I would like to correct the statement in bold.
Source

QUOTE
Home » Individual

Your Responsibility

Taxpayer Responsibilities

Every taxpayer who is liable to tax is required to declare his income to IRBM. The taxpayer is responsible for:-

  1.

      Obtaining and forwarding Income Tax Return Form (ITRF):

      The taxpayer has to send or submit the ITRF that has been duly completed before 30th April every year to the address below :-

      Information Processing Department
      Inland Revenue Board of Malaysia
      Level 10-18, Tower C
      Persiaran MPAJ
      Jalan Pandan Utama
      Pandan Indah
      55100 Kuala Lumpur
  2.

      Declaring income and claiming expenses.
  3.

      Computing income tax payable.
  4.

      Keeping records for audit purposes.
  5.

      Paying the income tax payable.


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


liable to tax - is subject to the income tax declaration form submission and calculation. Not just pluck from sky, and say I'm under 2k/mth, hence my family/friends/boss/colleague says I'm not taxable.

cute_boboi
post Mar 23 2012, 11:46 AM

° 忍 °
*******
Senior Member
6,462 posts

Joined: Nov 2004
From: [Latitude-N3°9'25"] [Longitude-E101°42'45"]


QUOTE(Denis @ Mar 22 2012, 01:57 PM)
Hi,

Is the medical insurance (stand alone policy) for the children eligible for deduction under Borong BE D14 (Insurans pendidikan dan perubatan)?

Thank in advance.
*
Correct.

QUOTE
EDUCATION AND MEDICAL INSURANCE
A relief not exceeding RM3,000 is available on insurance premiums in respect of education
or medical benefits for an individual, husband, wife, or child. Subsection 49(1B). Refer to
Working Sheet HK-14 for computation.


cute_boboi
post Mar 23 2012, 03:35 PM

° 忍 °
*******
Senior Member
6,462 posts

Joined: Nov 2004
From: [Latitude-N3°9'25"] [Longitude-E101°42'45"]


QUOTE(herc @ Mar 23 2012, 11:51 AM)
wanna know if anyone here declare an excessive amount of meal allownace? since they dun set a limit biggrin.gif
*
There is no specific, but if you put in an excessive amount, be prepared to get questioned/audited by LHDN. Also for you to prepare answers for it.

QUOTE(dannyw @ Mar 23 2012, 03:05 PM)
About the Parents Medical Rebate, I do have the receipt, but the clinic wrote my parents name instead of my name.

Can I claim then?
*
Yes, you can. It is easy for you to prove to LHDN that name is your mother (birth cert) if get audited.
It's quite logical for hospital/clinic to use the patient name (i.e. parent's) on the receipt/invoice/memo, rather than another person's name.

QUOTE
MEDICAL EXPENSES FOR OWN PARENTS
Medical expenses incurred on parents is limited to RM5,000. Paragraph 46(1)©
Medical expenses which qualify for deductions would include:
(i) medical care and treatment provided by a nursing home; and
(ii) dental treatment limited to tooth extraction, filling, scaling and cleaning but not
including cosmetic dental treatment expenses such as teeth restoration and
replacement involving crowning, root canal and dentures.


cute_boboi
post Mar 23 2012, 04:48 PM

° 忍 °
*******
Senior Member
6,462 posts

Joined: Nov 2004
From: [Latitude-N3°9'25"] [Longitude-E101°42'45"]


QUOTE(DM3 @ Mar 23 2012, 03:51 PM)
what's deferred annuity ?
claim medical for parents only and not in-laws right?
*
Annuities as defined by LHDN - These are sums of money received in accordance with a will or an investment of money entitling the annuitants or investors to a series of annual payments, whether or not received regularly or for a limited period only.

Some forummers has explained and given sample of annuity (Prudential Reward Plan something ?)
Refer few pages earlier in this thread.

Good question. It is vague in LHDN explanatory notes. After all, you can always proof in-laws as parents by submitting marriage cert and spouse's birth cert if really get audited.
Why not send an email to LHDN, get the reply and share with us ?


6 Pages < 1 2 3 4 5 > » Top
Topic ClosedOptions
 

Change to:
| Lo-Fi Version
0.0482sec    0.37    7 queries    GZIP Disabled
Time is now: 11th December 2025 - 04:38 PM