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
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.

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.


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).

we just need to be transparent so ppl will not get suspicious if you're spending big provided they know where did you get all the money...

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?

1st day they opened the system

they will know the answer in your bank statement, they will query each amount bank-in

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. Now question is how come our tax for joint assessment is too large compared to the tax payable if filed separately?

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.

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.

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

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) 1 receipt for 1 PC/laptop worth up to RM3k in tax relief
2) Sports shoe NOT considered as Sport Equipment

Joint assessment benefits:

1) Additional RM3k tax relief claimable.
2) If both husband and wife income added together is less than RM35k then u r entitle for RM400 tax rebate each but tax rebate for zakat only eligible for tax filer and not both.

So opt for joint assessment if a wife is not earning high income or no income to enjoy the above mentioned benefits .

This post has been edited by countdown: Mar 20 2012, 01:53 AM

Ouch, really cannot use 2 receipts?

Hello,

I have question regarding to the housing loan interest. Who can explain to me on the interest calculation? I received a housing loan bank statement in December 2011. All I need to do is to sum up all the month interest stated there from January to December? Seems a bit too easy...

If anyone of you have experience in filling it, do teach me sai lou on this. Thank you very mcuh!

I kena javascript error after signed and submitted aiyoyoyo.. anyone experience the same?

Ic, but it's taxable without PCB & EPF deduction.. Doesn't sound fair..

---

Added on March 20, 2012, 12:18 amI want to know about item no 2 also..
Or is it for medical treatment only? :erm:

This post has been edited by a-ei-a: Mar 20 2012, 12:18 AM

yes, u just need to sum up the interest column of your bank statement.

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..