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 Income Tax Issues v2

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nspk
post Mar 17 2012, 08:41 PM

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QUOTE(justanovice @ Mar 17 2012, 06:50 PM)
Got so ma fan de mer?
I bought lots of books at mph, borders, pay with cash or CC also get same bookstore receipt with no name de ma.
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ya lo.. For the deduction book or magazine section, it mention buy for own, wife or kids ma... y cannot le?
ronnie
post Mar 17 2012, 08:42 PM

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QUOTE(justanovice @ Mar 17 2012, 06:50 PM)
Got so ma fan de mer?
I bought lots of books at mph, borders, pay with cash or CC also get same bookstore receipt with no name de ma.
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If the receipt is un-named, then it's ok.
But if the receipt has the wife's name, cannot claim under Husband's tax relief.. That's logical
nspk
post Mar 17 2012, 08:43 PM

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QUOTE(ronnie @ Mar 17 2012, 08:42 PM)
If the receipt is un-named, then it's ok.
But if the receipt has the wife's name, cannot claim under Husband's tax relief.. That's logical
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too bad...
guanteik
post Mar 17 2012, 09:54 PM

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just curious, anyone received the refund of excess from LHDN?
ronnie
post Mar 18 2012, 11:14 AM

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QUOTE(guanteik @ Mar 17 2012, 09:54 PM)
just curious, anyone received the refund of excess from LHDN?
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The e-BE just opened for 18 days... I believe LHDN is efficient BUT NOT ULTRA-efficient lah doh.gif
a-ei-a
post Mar 18 2012, 03:00 PM

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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.
yiivei
post Mar 18 2012, 03:30 PM

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QUOTE(guanteik @ Mar 17 2012, 09:54 PM)
just curious, anyone received the refund of excess from LHDN?
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They will notify you through letter.

Last, i received was 14 working days after my submission.
twyeoh
post Mar 18 2012, 04:27 PM

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Inside acknowledgement receipt e-BE

total amount repayment tax back to owner = tax repayable + tax paid in excess ?

JQ1708
post Mar 18 2012, 05:29 PM

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Hi,I am a newbie here and the e-borang..few questions to ask for advice..

a)I am running a small photostat shop since May last year, so should I fill up the borang e-b?
b)Pendapatan berkanun means net profit or income(before minus the expenses)?
c)My net income around 20K,do I need to pay tax? Business runner must pay tax?
d)Any issue I should aware since this is my first year submit tax on business?

Thanks for all the advice in advanced..smile.gif
lewmoker
post Mar 18 2012, 05:35 PM

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[quote=countdown,Mar 13 2012, 05:09 PM]
[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...


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.
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[/quote]

thanks for the tip...
previously i'm doing marketing but recently due to need to cover certain niche markets which i do the marketing for, i moved to the sales position.
due to this i still hold the marketing basic salary plus certain bonus add on for the sales side which after i calculate sure the tax bracket i'm in this year will be insane!
as for lower basic its a no no as i have certain commitment need to address...
countdown
post Mar 19 2012, 01:41 AM

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QUOTE(PradaLee @ Mar 17 2012, 02:20 PM)
Is property under construction eligible for this RM10k deduction claim if S&P is signed between 10 march 2009 to 31 dec 2010? How to prove property is for own stay when it is under construction? What if property is subsequently disposed off after claiming the 3 years of RM10k deduction?

Thanks
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If under construction and you pay the bank interest then it's claimable for 3 consecutive years with RM10k max each year. Those days developer offered interest free package for under construction, then can't claim bsc no interest incurred but after construction and once u started to pay interest then u can start to claim for 3 consecutive years. Key point is when do u start to incur the interest.

S n P will tell u the completion date hence the proof of under construction, keep a copy of that and your loan statement from the banks in case kena audit.

It has to be a residential property, doesn't matter u stay in there or not as long as it doesnt derive any income (no rental). U only claim whenever an interest is incurred, when u sell, interest incurrence no more, so can't claim but subjected to RPGT and RPGT is not an income.


Added on March 19, 2012, 1:52 am
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.
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Yes it's an income to you, so taxable and after all, it'll be reflected on your EA form.

This post has been edited by countdown: Mar 21 2012, 12:35 PM
realman
post Mar 19 2012, 12:06 PM

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Guys,

I received my tax refund...checked with my colleagues , they also got it
heizad
post Mar 19 2012, 12:30 PM

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QUOTE(realman @ Mar 19 2012, 12:06 PM)
Guys,

I received my tax refund...checked with my colleagues , they also got it
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when did u send ur e-filing?
cute_boboi
post Mar 19 2012, 12:30 PM

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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.
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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.

yiivei
post Mar 19 2012, 12:50 PM

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QUOTE(cute_boboi @ Mar 19 2012, 12:30 PM)

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.
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+1

For those that have received your refund, when is your submission date?
DM3
post Mar 19 2012, 01:01 PM

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new system will tell if u bought computer 3 yrs back and the blank columns cant be key in amount .

heizad
post Mar 19 2012, 01:06 PM

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QUOTE(DM3 @ Mar 19 2012, 01:01 PM)
new system will tell if u bought computer 3 yrs back and the blank columns cant be key in amount .
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mine one still can..lol..but didn't put anything tho..hehe
xtjs
post Mar 19 2012, 01:10 PM

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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
DM3
post Mar 19 2012, 01:57 PM

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QUOTE(heizad @ Mar 19 2012, 01:06 PM)
mine one still can..lol..but didn't put anything tho..hehe
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funny thing is i last bought 2 yrs ago but still can claim (as can key in also)
cute_boboi
post Mar 19 2012, 02:06 PM

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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
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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 ?


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