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 Income Tax Issues v2

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Izac Yeoh
post Mar 26 2012, 09:04 PM

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QUOTE(Ck1976 @ Mar 26 2012, 07:01 PM)
Hi Yeoh...
Just wanna to ask you...notice that under tax relief there is a Basic supporting equipment...what are the things we can calim under this section...
recently my mother just changed the knee cap ...a total of 43 thousand ...can split into 2 ie 1st clai m under medical expenses ($5000)and 2nd under supporting equipment (5000) ....

Thanks
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Hi,

First question, what are the fees included under RM43,000? Only medical fees or part of it is the purchase of supporting equipment?

Under the income tax law, you can claim a relief of medical expenses for parents and purchase of basis supporting equipment for disabled person of RM5,000 each. In order for you to make the former claim, the medical fee must be charged by a medical practitioner registered with Malaysian Medical Council. For the latter claim, the basis supporting equipment purchased is only for the use of a disabled person. "Disabled person" is to be defined as an individual certified in writing by the Department of Social Welfare of Malaysia.

With the above basic information, i would think that you can only eligible for the first RM5,000 (max) claim in respect of the medical expenses incurred on your mother. However, you can spare the balance medical expenses with your siblings so that your siblings' tax payable will be reduced accordingly. In such, the aggregate tax payable for the household will be reduced.
davetan
post Mar 26 2012, 09:05 PM

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Do we have to declare reits dividend? Thank you.
Izac Yeoh
post Mar 26 2012, 09:21 PM

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QUOTE(mobio.dev @ Mar 26 2012, 07:04 PM)
how much you will charge for tax submission,
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It depends on the complexity of the case. There will be no flat price across all the cases. Can you pm me your case so i can quote you a price?

Actually i am not the one provide the services, i am just helping my fren. I just share with you all my general tax knowledge. However, my fren can provide you all the services from head to toe (set up company, account and tax).


Added on March 26, 2012, 9:23 pm
QUOTE(davetan @ Mar 26 2012, 10:05 PM)
Do we have to declare reits dividend? Thank you.
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Nope.. it is exempted from tax

This post has been edited by Izac Yeoh: Mar 26 2012, 09:23 PM
SUSmr.jackie
post Mar 26 2012, 10:14 PM

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u let them know i paying my income tax every day....since i step out from my home i already pay it......old town ,paparich....even happy hours have to pay.....damn
den
post Mar 26 2012, 10:34 PM

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QUOTE(mobio.dev @ Mar 26 2012, 02:38 PM)
ok, if you are employee, then you can claim as what I mention before,
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yup. full time employee, part time student.

QUOTE(countdown @ Mar 26 2012, 06:45 PM)
please also ensure the institution is recognized by the government of M'sia.
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yup. it's MMU.



thanks all. done with my e-BE form. waiting for my "cukai terlebih bayar" tongue.gif
Cherry16
post Mar 26 2012, 11:23 PM

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Hi,

Would like to ask the followings:

1. Can annual health check-up for self e.g. blood test, consider as complete medical examination?

2. Joint purchase of condo with sis. Interest on HL, can the ratio be 95:5?

Thanks.

harrychoo
post Mar 27 2012, 08:57 AM

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REIT dividen no need to declare as income right?
I owned hektar and don't know why it appeared in my HK-3 sheet
ronnie
post Mar 27 2012, 10:41 AM

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QUOTE(Izac Yeoh @ Mar 26 2012, 05:29 PM)
Unfortunately, no. Sport equipment eligible for relief are those with short life span such as shuttercock.


Added on March 26, 2012, 5:34 pm
One of the relief available to us is life insurance and epf total of RM6,000. Means the premium u paid for your life insurance plus your employee's EPF contribution max you can claim is RM6,000.
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Do you mean Home Gym Equipment is not entitled to be claim as Sports Equipment Tax Relief ?
ronnie
post Mar 27 2012, 10:42 AM

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QUOTE(davetan @ Mar 26 2012, 09:05 PM)
Do we have to declare reits dividend? Thank you.
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I don't think so....
cutiepooh
post Mar 27 2012, 11:17 AM

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We live in a Tax country.. sigh.....
Izac Yeoh
post Mar 27 2012, 12:19 PM

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QUOTE(ronnie @ Mar 27 2012, 11:41 AM)
Do you mean Home Gym Equipment is not entitled to be claim as Sports Equipment Tax Relief ?
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For those have long life span, yes, you cannot claim.


Added on March 27, 2012, 12:36 pm
QUOTE(Cherry16 @ Mar 27 2012, 12:23 AM)
Hi,

Would like to ask the followings:

1.  Can annual health check-up for self e.g. blood test, consider as complete medical examination?

2.  Joint purchase of condo with sis.  Interest on HL, can the ratio be 95:5?

Thanks.
*
If you look at the income tax act properly, RM500 relief is only for complete medical check up. Based on the general understanding, complete medical check up will include a lot of medical tests. I am not sure what tests will they have but i do not think is only blood test. If only blood test i will think it is a regular medical check up but not complete medical check up. I only explain based on what stated in the income tax act. Practically? I not sure will the IRB will check until that detail.

95:5 ratio? I do not think the IRB will allow that apportionment. Since for a normal joint agreement shd be 50:50.

This post has been edited by Izac Yeoh: Mar 27 2012, 12:36 PM
rayng18
post Mar 27 2012, 01:32 PM

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For all doing e-filing, the deadline for submission has been extended to 15/5/12 for BE and 15/7/12 for B

http://thestar.com.my/news/story.asp?file=...4193&sec=nation

This post has been edited by rayng18: Mar 27 2012, 01:34 PM
ronnie
post Mar 27 2012, 01:57 PM

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QUOTE(rayng18 @ Mar 27 2012, 01:32 PM)
For all doing e-filing, the deadline for submission has been extended to 15/5/12 for BE and 15/7/12 for B

http://thestar.com.my/news/story.asp?file=...4193&sec=nation
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But payment at the LHDN counter need to be made before 30 April 2012, right ?
Izac Yeoh
post Mar 27 2012, 02:13 PM

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QUOTE(ronnie @ Mar 27 2012, 02:57 PM)
But payment at the LHDN counter need to be made before 30 April 2012, right ?
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The grace period of 15 days will only be given provided an application is given to the IRB (cyberjaya branch) at least 15 days before the respective ordinary due dates. The application should support by relevant and strong reason and it is subject to the IRB's approval. Remember, the grace period is not to be granted automatically... If no application was made to the IRB, ordinary due dates are still applicable.

Regarding the payment for the balance of tax payable, you can apply for the same extension of 15 days grace period in the same application letter. If not, ordinary due dates should be complied with.
heizad
post Mar 27 2012, 02:21 PM

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just got my refund today..submitted on 14th smile.gif
DM3
post Mar 27 2012, 02:32 PM

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QUOTE(ronnie @ Mar 27 2012, 01:57 PM)
But payment at the LHDN counter need to be made before 30 April 2012, right ?
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yea, hard copy still follow 30/4 dateline, they wanna encourage e-filing
ronnie
post Mar 27 2012, 02:39 PM

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QUOTE(DM3 @ Mar 27 2012, 02:32 PM)
yea, hard copy still follow 30/4 dateline, they wanna encourage e-filing
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I submitted via e-filling but need to pay additional taxes.
Xforged
post Mar 27 2012, 02:43 PM

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QUOTE(heizad @ Mar 27 2012, 02:21 PM)
just got my refund today..submitted on 14th smile.gif
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Submitted on the 14th as well.. but no news till now. Hmmm
mobio.dev
post Mar 27 2012, 02:47 PM

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no news, sure they will send penalty for u, hehehe, just kidding, don't worry, alot person submit their tax now , will take time to process urs, will get urs very soon

QUOTE(Xforged @ Mar 27 2012, 02:43 PM)
Submitted on the 14th as well.. but no news till now. Hmmm
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lizz8827
post Mar 27 2012, 03:16 PM

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I need some tax advise too...

My medical reimbrusement RM 90.00 also counted together as tax deduction with my salary for March 2012. How come?

I have to pay extra tax for that RM90.00.

My company did the deduction automatically.... Sad!!! cry.gif

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