Guys,

Need some advice on Interest on housing loan.

The cross put as below:
An amount limited to a maximum of RM10,000 is deductible for each basis year for a period of three consecutive years of assessment beginning from the date in which the interest is first expended.

I bought my house on August 2009, so this is the third year I fill up the rebate column. The question is count by year or month? By next year am I still entitle for the rebate of this? Is there another 7 months for me to rebate?

Guys, I'm still very new to this income tax thing.
I started work since mid 2008 , first company salary RM1800.
Second company on year 2009 with RM2000 salary.
Question 1 - So I suppose I don't have to submit tax right? I didn't open a tax file yet.

Year 2010 December, I stop my employment and started a Sole Prop.
Question 2 - When do I need to start my income tax submission?
Q3 - I understand that there's personal incometax and company's which category do I need to do?

[quote][quote=badzvino,Mar 13 2012, 12:29 PM]
Guys, I'm still very new to this income tax thing.
I started work since mid 2008 , first company salary RM1800.
Second company on year 2009 with RM2000 salary.
Question 1 - So I suppose I don't have to submit tax right? I didn't open a tax file yet.

Year 2010 December, I stop my employment and started a Sole Prop.
Question 2 - When do I need to start my income tax submission?
Q3 - I understand that there's personal incometax and company's which category do I need to do?

[/quote][/quote]

Q1 - Yes if ur annual income falls below the bracket. However, do you entitle to bonus on your 2nd company?

Q2 - Form B for sole proprietor. BE for employment. E for Sdn. Bhd.

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Added on March 13, 2012, 1:04 pm[quote=yiivei,Mar 13 2012, 01:01 PM]
[/quote]

Q1 - Yes if ur annual income falls below the bracket. However, do you entitle to bonus on your 2nd company?

Q2 - Form B for sole proprietor. BE for employment. E for Sdn. Bhd.

[/quote]

Due date for Form B submission is 30 June 2012.

This post has been edited by yiivei: Mar 13 2012, 01:04 PM

Hi Guys
Want to ask, for example how to put dividen from stock into TAX? Can the dividen from company deductible?

A very quick question.

I have two properties, an apartment fully paid and a house under a loan. The SnP for the house under the loan was signed July 2010. Can I include the 10k bank interest for deduction?

you have fill in 'Information of Dividend Income and Computation of Statutory Income' in HK3 form, its for dividen,

but hv to check whether it is single tier / or not, if single tier u can't claim bcos there is no tax for that dividen

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Added on March 13, 2012, 4:20 pmQ1 - you no need to submit, but if you want to apply loan or something this will help full
Q2 - you have to start once u start earn, even single cent
Q3 - BE for employee, B for business (Sole pro,), E - for Sdn Bhd

This post has been edited by mobio.dev: Mar 13 2012, 04:20 PM

If a person owns a 2-storey shop house and let the parents use it for free. The parents stay on the upper floor and collect and keep the rental on the ground floor for their daily expenses. Can this rental income be declared under the parents?

have to declare to who belong the apartment

Still applicable and up to 7% for individual and 10% for corporate. And please remember, donation must be in CASH form.

This post has been edited by countdown: Mar 13 2012, 06:15 PM

of course can, its upto 7 %,

its donation / gifts

[quote=lewmoker,Mar 7 2012, 10:27 AM]
hahaha my work will never have cut like the pay for sure. adding up is more likely...
some more i just move to a sales position which means bigger taxation later...

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Added on March 7, 2012, 10:30 am

You have moved to sales position, are you still an employee to your company or all the while as an agent/service to your company?

If you're an agent, of course please convert from BE to B.

If you're an employee and a KEY MAN to your company, perhaps you can try to negotiate certain terms with your boss. For instance, ask for lower basic salary but compensated with other non-taxable benefits.

The bolded part is not right.
The correct situation is the dividend already being taxed at company level, so no further tax.

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Added on March 13, 2012, 5:15 pmNo.
Rental income based on property owner.


This post has been edited by cherroy: Mar 13 2012, 05:15 PM

it's up to you either 50%/50% or 100%. Apply whichever gives you a better tax deduction. Please remember, whichever combination, the max claimable is RM10k only.

This post has been edited by countdown: Mar 13 2012, 06:01 PM

What if the shop house is rented out to the parents for a token sum? And the parents sublet out the ground floor?

This post has been edited by MGM: Mar 13 2012, 05:41 PM

Yes you can provided:

1) you must be a CITIZEN and RESIDENT to M'sia.
2) NO income derived from this property.

wanna ask my company pay

potongan cukai bulanan (PCB) tahun semasa yang dibayar kepada LHDNM $803

Wondering where in the borang-be can I fill it up?? can i fill in under Section 110 tax deduction (others) ??

Bahagian F2 for paid PCB.

Understood. Thanks a lot.

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Added on March 14, 2012, 11:12 amIf i'm not mistaken 2011 is the last year you can claim. You won't see that column anymore for next year(2012)




This post has been edited by Drian: Mar 14 2012, 11:12 AM

Really? Thanks for you reply.

Anyway, will see it on next year then.

Hi all,

My company HR ask me register for income tax and give them the dunno wat number.

This is my first time, how do i register and get the number?