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 Income Tax Issues v2

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guanteik
post Mar 8 2012, 09:14 PM

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QUOTE(alfianguy @ Mar 8 2012, 06:43 PM)
My wife used to work but for the past 7 year has not been working to take care of our child. Hence for the e-filing, we opt for joint-assessment (spouse no income).

The question:
Does she need to submit e-BE form too? (she has income tax file from previous job long ago).

This is the first time I'm using e-filing, previously I just submitted the BE form for my wife with all "0" in the income column.
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You don't need to file for your wife, if you opt for joint-assessment. There is a portion where you have to input your wife's information e.g. IC, tax number, full name etc.
kclim888
post Mar 8 2012, 11:51 PM

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QUOTE(ronnie @ Mar 8 2012, 01:11 PM)
Go download ur YA2011 SSPN Tax Statement... you can claim Tax Relief on Dividend received
URL: https://epay.ptptn.gov.my/saving/hasillogin.html
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Hi, I'm new here. Appreciate if anyone can guide me as to how do I go about claiming the Tax Relief for Dividend received from SSPN? What should I fill in the HK-3 form? What is the amount I should put under the main page for Dividend? Is it the amount of dividend received on 01/01/2011? icon_question.gif

Thanks!
leahcim
post Mar 9 2012, 05:33 AM

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guys, got another questions here. any idea whether this part

Hadiah wang kepada institusi atau organisasi diluluskan
Gift of money to approved institutions or organisations

is applicable for rebate for donation?

when compare to here:
http://www.hasil.gov.my/goindex.php?kump=5...4&unit=1&sequ=1

it no longer mention the word donation.
ronnie
post Mar 9 2012, 07:36 AM

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QUOTE(kclim888 @ Mar 8 2012, 11:51 PM)
Hi, I'm new here. Appreciate if anyone can guide me as to how do I go about claiming the Tax Relief for Dividend received from SSPN? What should I fill in the HK-3 form? What is the amount I should put under the main page for Dividend? Is it the amount of dividend received on 01/01/2011?  icon_question.gif

Thanks!
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SSPN Dividend don't need to fill up HK-3 lah doh.gif doh.gif
ronnie
post Mar 9 2012, 07:36 AM

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QUOTE(leahcim @ Mar 9 2012, 05:33 AM)
guys, got another questions here. any idea whether this part

Hadiah wang kepada institusi atau organisasi diluluskan
Gift of money to approved institutions or organisations

is applicable for rebate for donation?

when compare to here:
http://www.hasil.gov.my/goindex.php?kump=5...4&unit=1&sequ=1

it no longer mention the word donation.
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I believe it's the same thing....
kclim888
post Mar 9 2012, 09:59 AM

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QUOTE(ronnie @ Mar 9 2012, 07:36 AM)
SSPN Dividend don't need to fill up HK-3 lah  doh.gif  doh.gif
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Ah... thanks! Er, that means I also don't need to fill up the dividend amount in the Pendapatan Berkanun page, rite? Since it is not taxable? smile.gif
cenkudu
post Mar 9 2012, 07:28 PM

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I have leave my PRUBSN education plan to lapse because have another plan. already declare tax today and suddenly receive also PRU annual statement later today (why they sent too late). I realized they paid my contribution using my investment money and that means I can get more tax relief if they send the statement earlier


simplesmile
post Mar 9 2012, 11:18 PM

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QUOTE(wongmunkeong @ Mar 7 2012, 12:08 PM)
IMHO,
a. Personal income tax in M'sia susah nak reduce lar - it's like PURPOSELY spending $1 to save $0.26, unless the item or services really needed/used.
Thus far, to me, only SSPN & annuities makes pure monetary sense, since my EPF bombs out life insurance already.
b. I'd think having a "side income", say an agent of something or other + rental management, would be better move since we can offset certain expenses to the generation of these income.
c. Time for a change? tongue.gif this year's erection
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I know about SSPN. Unfortunately I am not eligible to contribute because I don't have a kid yet.
What about annuities? Where can I find more information about the annuities that are approved for tax relief?

This post has been edited by simplesmile: Mar 9 2012, 11:20 PM
wongmunkeong
post Mar 10 2012, 08:07 AM

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QUOTE(simplesmile @ Mar 9 2012, 11:18 PM)
I know about SSPN. Unfortunately I am not eligible to contribute because I don't have a kid yet.
What about annuities? Where can I find more information about the annuities that are approved for tax relief?
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There's an annuities topic/thread in this "Finance, Business and Investment House" talking about Prudential's.

Personally, i've chose to do Uni.Asia's with a long time insurance & mortgage agent of mine. Attached is my own analysis of Uni.Asia's annuity based on the data & info i got from him. Thus far, he's the most honest agent i've come across (and i've come across quite a bit tongue.gif) YET i still do my own due diligence - my $ mar, only i can care properly brows.gif

Note:
1. Unzip to Excel
2. Of course U need Excel or the likes to open. U'll need to "Analysis Toolpak" add-in installed to see the %pa compounded as i'm using XIRR function. Please edit/change your tax rate and stuff as needed to ascertain your own possibilities.
3. I'm doing as a sub-class of my total Fixed Income % (Asset Allocation) + the bit on insurance is a bonus. Your mileage may vary.

Please do not ask me for other calculations and data for Uni.Asia - i ain't an agent & only know the data variable pertaining to my age & self notworthy.gif .
If U wish, PM me and i can share my agent's contact - thus U can get the variables pertaining to yr age/self from him directly.

This post has been edited by wongmunkeong: Mar 10 2012, 08:14 AM


Attached File(s)
Attached File  Annuity_UniAsia.zip ( 8.83k ) Number of downloads: 27
Chester
post Mar 10 2012, 12:54 PM

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QUOTE(munkeyflo @ Mar 5 2012, 08:52 PM)
I would like to know this as well.
I file the tax for both my parents and myself. For me, my PC field was greyed out, I claimed for PC last year. But for my parents, their PC field is fill-able, their claim for PC was 2 years ago, which also means cannot claim since can only claim once in 3 years. So I'm abit confuse if the field is not greyed out means can still claim?
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ditto that. feels like filling that field up biggrin.gif
jutamind
post Mar 10 2012, 06:31 PM

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i have submitted this year's e-filing but i realized i over submitted the income part. how do i correct the error?
simplesmile
post Mar 10 2012, 09:17 PM

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QUOTE(wongmunkeong @ Mar 10 2012, 08:07 AM)
There's an annuities topic/thread in this "Finance, Business and Investment House" talking about Prudential's.

Personally, i've chose to do Uni.Asia's with a long time insurance & mortgage agent of mine. Attached is my own analysis of Uni.Asia's annuity based on the data & info i got from him. Thus far, he's the most honest agent i've come across (and i've come across quite a bit tongue.gif) YET i still do my own due diligence - my $ mar, only i can care properly brows.gif

Note:
1. Unzip to Excel
2. Of course U need Excel or the likes to open. U'll need to "Analysis Toolpak" add-in installed to see the %pa compounded as i'm using XIRR function. Please edit/change your tax rate and stuff as needed to ascertain your own possibilities.
3. I'm doing as a sub-class of my total Fixed Income % (Asset Allocation) + the bit on insurance is a bonus. Your mileage may vary.

Please do not ask me for other calculations and data for Uni.Asia - i ain't an agent & only know the data variable pertaining to my age & self notworthy.gif .
If U wish, PM me and i can share my agent's contact - thus U can get the variables pertaining to yr age/self from him directly.
*
Yes, I'm aware of that thread. I started that thread in 2009. Two years later and I still haven't been able to take advantage of this annuity tax relief.

Thanks for sharing. Unfortunately I use Mac and don't have Excel. I'll ask around to see if any of my friends represent UniAsia.
renjiv2
post Mar 12 2012, 09:26 PM

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may i ask abt e-BE section no.3 ~Pendapatan Tahun Kebelakangan Yang Belum Dilaporkan~
it is this section for fill in past year income tat not yet report?
FYI this is my 1st time e-filling. thx

Erosh
post Mar 12 2012, 09:29 PM

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anyone here has an official income tax receipt to show me how does it look like? smile.gif
konchesky
post Mar 12 2012, 11:26 PM

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Payment of broadband subscription:

Telekom bill is under my wife's name, but i paid for it (direct debit to my credit card), can i claim it?
SUSDavid83
post Mar 13 2012, 07:47 AM

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QUOTE(konchesky @ Mar 12 2012, 11:26 PM)
Payment of broadband subscription:

Telekom bill is under my wife's name, but i paid for it (direct debit to my credit card), can i claim it?
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Cannot because the bill itself is not under your name who is tax file account name.
konchesky
post Mar 13 2012, 09:54 AM

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With effect from YA2011, medical treatment for parents is extended to include expenses to care for parents.

My mum is immobility (leg handicap) and suffer brain cancer. hence i hired cambodian maid due to i'm working, no one take care of her.

can i claim the relief of max RM5000 (maid salary)?

guanteik
post Mar 13 2012, 10:19 AM

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QUOTE(konchesky @ Mar 13 2012, 09:54 AM)
With effect from YA2011, medical treatment for parents is extended to include expenses to care for parents.

My mum is immobility (leg handicap) and suffer brain cancer. hence i hired cambodian maid due to i'm working, no one take care of her.

can i claim the relief of max RM5000 (maid salary)?
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Yes, with receipt.
konchesky
post Mar 13 2012, 10:26 AM

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QUOTE(guanteik @ Mar 13 2012, 11:19 AM)
Yes, with receipt.
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Receipt?

I only has a salary list from Maid Agency stated the maid monthly salary. I have no other supporting documents.
prophetjul
post Mar 13 2012, 10:30 AM

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Are dividends from Real Estate Investment Trusts(REITs) taxable?
In Msia, the divs are already taxed at source at 10%.
The divs in Singapore are not taxed.

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