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 Income Tax Issues v2

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rayng18
post Apr 17 2012, 07:00 AM

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QUOTE(Molotov Cocktail @ Apr 17 2012, 12:17 AM)
so meaning i can get tax refund for that amount? what procedure must i do next to get refung? need to submit anything to irb? sorry this is my first time claiming tax refund from dividend
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it depends on your tax band, if you are paying 10% tax, you get back 15% (25% tax already deducted for your dividend minus 10% tax band that you fall into), if you are not taxable you get back whole 25% and likewise if you are in 25% or more,you get nothing. Just keep all your dividend vouchers together with all your other supportings in case IRB do an audit on your file.
rayng18
post Apr 17 2012, 10:35 AM

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QUOTE(Molotov Cocktail @ Apr 17 2012, 10:18 AM)
thanks for the help, actually i fall into 7% tax rate group, meaning i should get refund for the other 18% right? i already fill in the required field in the efiling, and because of my zakat i end up don't have to pay for tax, but it said i get refund for the whole tax deducted from the dividend, which is the whole 25% deducted tax, is this correct? i thought i'll only get refund for 18% from the deducted tax of the dividend
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In that case I think you will not be getting any as the 18% extra that you paid is being offset with you zakat. As all computations are filled up, all tax paid will also be in the computation, so the final figure is whether you need to pay tax or no need to pay or get tax refund (ie all tax paid previously if you fill in the computation are factored in already).
rayng18
post Apr 20 2012, 02:38 PM

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QUOTE(birain @ Apr 20 2012, 02:30 PM)
if epf and insurance combine is more than the limit of 6,000,how should i fill in?
and if epf is more than the limit of 6000, what should i put in and what happen to the remaining balance?

can anyone enlightened me how how i should go about? thx.. icon_question.gif
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just put 6000, balance just too bad
rayng18
post Apr 23 2012, 11:48 AM

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QUOTE(Jason @ Apr 23 2012, 11:33 AM)
"Any income"

but its not income, more like allowance? its to pay for meals, laundry etc.
e.g. going overseas for a 3 day conference.

I still get my same monthly salary and I am not posted overseas for work, just overseas for meeting or exhibition etc.

the company pays for accommodation, and then gives us subsistence/allowance
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allowance is additional income for you which in tax term known as benefit in kind,which you will be taxed
rayng18
post Apr 27 2012, 09:41 AM

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QUOTE(munkeyflo @ Apr 27 2012, 07:43 AM)
By right should be split evenly.
If they check, they might question why put all the income under your wife and not split evenly.
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I think you can put all under wife as her income tax band is lower, this is tax planning/tax avoidance which is legal unlike tax evasion which is against the law.


Added on April 27, 2012, 9:45 am
QUOTE(rhika @ Apr 27 2012, 09:18 AM)
hi guys, where to check if any LHDN locations are open tomorrow? My friend is new and need to open acc.

I'm seeing on the site saying weekends closed ;_;
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why not you give them a call, not sure on weekend but weekdays will be opened until 6pm.

Goiing tomorrow!! not sure you can reach there or not coz roadblocks everywhere for Bersih 3.0

This post has been edited by rayng18: Apr 27 2012, 09:45 AM
rayng18
post Apr 27 2012, 11:59 AM

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QUOTE(rhika @ Apr 27 2012, 11:39 AM)
how about for creation of new accounts?

can't get thru to the LHDN line =O
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if not just open online lah hassle free
rayng18
post Apr 27 2012, 12:11 PM

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QUOTE(rhika @ Apr 27 2012, 12:03 PM)
Where to open and how ?  sweat.gif
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https://e.hasil.gov.my/
rayng18
post Apr 27 2012, 01:15 PM

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QUOTE(rhika @ Apr 27 2012, 12:49 PM)
I tried the request PIN but it keeps giving me "Please enter valid email address"

Also my friend doesn't have a SGN number...
Any advice?
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Its states there if don't have income tax file number have to do it at branch so you have no choice but to go to the branch. Why not u send them an email to check if they are open tomorrow.


rayng18
post May 1 2012, 07:49 PM

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QUOTE(sunnyckh @ May 1 2012, 05:14 PM)
Hi all, i have submitted all my income n personal info and also pay through FPX via online with using cimb clicks, so what's the next step i should do? waiting they send me doc or receipt? and what if i didn't fill the no majikan? what is the meaning ppl always called 'refund' in income tax? (newbie here)
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yes wait for their acknowledgement. Refund means ppl pay more than what the are supposed to pay ie they pay excess tax so can claim back the excess


Added on May 1, 2012, 7:51 pm
QUOTE(fahrur_07 @ May 1 2012, 04:38 PM)
how to get the loan statement?
the bank will send it to us rite?
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yes the bank will send you your loan statement, usually semi annually. If you want a copy u can always request from your bank and they will charge you for that extra request.

This post has been edited by rayng18: May 1 2012, 07:51 PM
rayng18
post May 2 2012, 09:25 AM

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QUOTE(audreyreiko @ May 2 2012, 09:01 AM)
I have a question for the sifus here, wonder if you can help me.

As I moved companies last year my new HR hasn't been cutting out the taxes, this resulted in a large amount of taxes I owe them even with all the tax relieves.

I've submitted my e-BE and paid the full figure on 27th April, got my e-mail which said payment was successful but at the moment when I login to "Semakan Pengesahan" it is still flashing in red with E-BAYARAN. I know technically I don't have to worry because I got an e-mail proof, but when the site said to disable the pop-up blocker, I thought mine was not activated, and it actually did blocked a site.

So, end up I don't know if I've missed a step to complete the whole transaction or not. sad.gif (I know, my fault)

Been trying to call the toll-free number for a few days, keep getting disconnected. Just now also I tried to call the Inland Revenue Board at 8:50AM in the morning (Today is Wed, not a public holiday) at 1300-88-3010, they proceeded to tell me the working hours are from 7:30AM to 5:30PM from Mondays to Fridays, directed me to call 03-42893636, and ended my call. The 03-42893636 number requires me to key in an announcement code, and I cannot proceed without one ...

Question 1: How do I know if they've accepted my payment successfully?
Question 2: How to reach them? They're not making anyone's lives easier... >.<;;

Please helpp....
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do u have a copy of the payment advice slip and that it has been successfully debited from your bank, just email to IRB with the payment advice slip and let them get back to you. If not just pay a visit to IRB to get it sorted out there and then (and bring along all your supportings)
rayng18
post May 2 2012, 09:55 AM

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QUOTE(audreyreiko @ May 2 2012, 09:41 AM)
Well I have the e-mail that says:

Dear Customer,

Thank you for using the FPX service.
We are pleased to inform you that the following online payment via FPX is successful:


FPX Transaction ID:1204270825050783
Date & Time:27-Apr-2012 08:29:07 AM
Merchant Name:LEMBAGA HASIL DALAM NEGERI MALAYSIA
Merchant Order No.:HM0000570556
Seller Order No: [My income tax number]
Buyer Bank:MAYBANK2U
Debit Status:00
Credit Status:00
Transaction Amount (RM):XXX


The last resort for me will be going to LHDN itself as I'll have to take a day off to do so... sad.gif
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just forward this email to IRB and wait for them to reply you. In the meantime, just try to call them and as a last resort have to take a day off to pay them a visit


Added on May 2, 2012, 9:57 am
QUOTE(sunnyckh @ May 2 2012, 09:45 AM)
why i didn't receive this email even though i have pay through FPX? My cimb account show have been debited
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I think you can retrieve the info from cimbclicks. One using maybank2u and you use cimbclicks cannot compare lor two diff banks mah.

This post has been edited by rayng18: May 2 2012, 09:57 AM
rayng18
post May 23 2012, 03:52 PM

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QUOTE(jwong0303 @ May 23 2012, 03:40 PM)
Dear all Sifu,

During 2011, I received dividends from listed REAL ESTATE INVESTMENT TRUST (all from Bursa) as follows:

Gross Dividend RM 5980.88 less Tax deducted (10%) of RM598.09.

Here is what my tax agent has done.

A.  Statutory Business Income RM xx,xxx
B.  Gross Dividend                    RM  7,177
                                                ------------
Less Relief                                    yy,yyy
                                              -------------
Chargeable Income                  RM zz,zzz

Tax            RM KK,KKK
Less Section 10 Dividends      RM 1794.26

My question:
1. Isnt 10% withholding tax on reit dividends final??
2. The amount deducted was RM598.09 but the tax agent regross the amount to RM1794.26 and deduct this from tax payable. Is this correct?

Please kindly advise ASAP before I let him submit the tax return.

Many Many Thanks.
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I think he summed up all dividends for 2011. Yes need to grossed up then less tax to come up with the net amount
rayng18
post Dec 26 2012, 11:28 AM

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Received an email from LHDN telling me that they have credited tax refund to my bank a/c. I checked my bank and indeed it was credited with RM199 tax refund. I have not been paying tax for a long time (have done tax return every year), maybe its from tax paid from dividend income. Just withdraw out for some boxing day shopping spree

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