QUOTE(ahzhi @ Apr 3 2012, 01:13 AM)
hi,can i noe how much % deduct from AI for approved donation, is 7% or 10%?if i not mistaken got 10% deduct for approved donation.
7% for non-corporate company i.e NOT S/B, Berhad.Income Tax Issues v2
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Apr 3 2012, 10:07 AM
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814 posts Joined: Jan 2003 From: Under the Sun. |
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Apr 3 2012, 11:24 AM
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Staff
2,797 posts Joined: Nov 2007 From: On the beach |
QUOTE(Angel On Fire @ Apr 3 2012, 12:41 AM) Dear all, Why not use e-Filling? They calculate and fill it up everything for you automatically, you just need to key in the details of your dividends.I'm in the totally unpleasant process of preparing my taxes and need help 1. Do I need to submit my dividend voucher together with BE Form and Working Sheet HK3? 2. In section C2 (Dividends) of BE Form, I need to put in the gross dividend (not net), correct? 3. In Working Sheet HK3: (i) Do I need to fill up Section B if the tax rate on the dividend voucher is 25%? Or leave it blank? (ii) "Section C (ii) Interest on loan" refers to interest on share margin financing? Please advice |
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Apr 3 2012, 11:47 AM
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Senior Member
814 posts Joined: Jan 2003 From: Under the Sun. |
For rental income, I forgotten to pay for Quit Access 2010. However, i had settled everything including penalty at 2011. All these payments are considered as expenses for YA2011 though the payment includes 2010?
Added on April 3, 2012, 11:49 am QUOTE(penangmee @ Apr 2 2012, 11:46 PM) thank you,This post has been edited by countdown: Apr 3 2012, 02:13 PM |
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Apr 3 2012, 01:18 PM
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5 posts Joined: Dec 2009 |
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Apr 4 2012, 06:24 PM
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650 posts Joined: Oct 2009 From: Formerly Perak, now KL |
QUOTE(Angel On Fire @ Apr 3 2012, 12:41 AM) Dear all, Up to assessment year 2008, have to submit dividend voucher. But from assessment year 2009 onwards, submit only HK3 with BE or B form.I'm in the totally unpleasant process of preparing my taxes and need help 1. Do I need to submit my dividend voucher together with BE Form and Working Sheet HK3? 2. In section C2 (Dividends) of BE Form, I need to put in the gross dividend (not net), correct? 3. In Working Sheet HK3: (i) Do I need to fill up Section B if the tax rate on the dividend voucher is 25%? Or leave it blank? (ii) "Section C (ii) Interest on loan" refers to interest on share margin financing? Please advice Correct me if I'm wrong. |
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Apr 5 2012, 10:38 AM
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51 posts Joined: Mar 2009 |
Hi All, need your professional advise on the following:
1) medical for parents - my mother in law sis immobility (leg handicap) and suffer brain cancer, due to all her children are working, thus my husband hired cambodian maid to take care of her, can it be entitle for RM5000 max relief (cambodian maid salary)? very confused, some said can be claim, some said cannot. 2) Purchase of book - if i purchase book in oversea, can it be entitle for RM1000 max relief? 3) Purchase of sport equipment - purchase golf ball, golf set (golf club), badminton racket, badminton shuttlecock, can it be entitle for RM300 max relief? 4) medical examination expenses - if i purchase blood test package at pathlab or bp lab, can it be entitle for RM500 max relief? |
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Apr 5 2012, 11:33 AM
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8,652 posts Joined: Sep 2005 From: lolyat |
QUOTE(konchesky @ Apr 5 2012, 10:38 AM) Hi All, need your professional advise on the following: 1)Cannot, only applicable for medical fee1) medical for parents - my mother in law sis immobility (leg handicap) and suffer brain cancer, due to all her children are working, thus my husband hired cambodian maid to take care of her, can it be entitle for RM5000 max relief (cambodian maid salary)? very confused, some said can be claim, some said cannot. 2) Purchase of book - if i purchase book in oversea, can it be entitle for RM1000 max relief? 3) Purchase of sport equipment - purchase golf ball, golf set (golf club), badminton racket, badminton shuttlecock, can it be entitle for RM300 max relief? 4) medical examination expenses - if i purchase blood test package at pathlab or bp lab, can it be entitle for RM500 max relief? 2)Can, but u have to keep receipt or any supporting document 3)Yes 4)Must be full medical check up |
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Apr 5 2012, 11:56 AM
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51 posts Joined: Mar 2009 |
QUOTE(yhtan @ Apr 5 2012, 12:33 PM) 1)Cannot, only applicable for medical fee I doubt is only for medical fee.2)Can, but u have to keep receipt or any supporting document 3)Yes 4)Must be full medical check up With effect from YA2011, medical treatment for parents is extended to include expenses to care for parents. That's why i am curious whether hire cambodian maid can be deductible or not (for parents who suffer in cancer). This post has been edited by konchesky: Apr 5 2012, 11:56 AM |
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Apr 5 2012, 12:21 PM
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8,652 posts Joined: Sep 2005 From: lolyat |
QUOTE(konchesky @ Apr 5 2012, 11:56 AM) I doubt is only for medical fee. I'm not too sure about this, it might argue that Cambodia maid will involve in house cleaningWith effect from YA2011, medical treatment for parents is extended to include expenses to care for parents. That's why i am curious whether hire cambodian maid can be deductible or not (for parents who suffer in cancer). If the money paid to nursing home, then it is clearly for medical treatment to take care for parents |
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Apr 5 2012, 02:18 PM
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4,540 posts Joined: Jan 2003 From: Sing-a-poor / Kayell / Jay-Bee |
I heard those companies donates for sport/charity etc organisation can claim for tax deduction but I wondering would it better to do so rather than having income taxed by government? would it save a lot??
I.e. Donate RM10K, maybe could deduct RM1k of tax but you have already spent RM10K in cash form + RM1k for tax. total RM11k. Keeping RM10K, you get taxed RM1k to 3K depending of tax bracket ....hence you folk out RM3k only. |
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Apr 5 2012, 02:25 PM
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324 posts Joined: Mar 2011 |
Hi, I've wrote an email to LHDN since 20th March 2012 to inquire about 'penyakit yang sukar diubati'. However until to date, there is no reply from them.
May I know what is the turn around time for them to response? Thanks a lot. |
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Apr 5 2012, 02:40 PM
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40 posts Joined: Jul 2011 |
QUOTE(periwater @ Apr 5 2012, 02:25 PM) Hi, I've wrote an email to LHDN since 20th March 2012 to inquire about 'penyakit yang sukar diubati'. However until to date, there is no reply from them. I think call them will be faster.May I know what is the turn around time for them to response? Thanks a lot. |
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Apr 5 2012, 03:20 PM
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5,191 posts Joined: May 2009 |
E-filing down
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Apr 5 2012, 04:18 PM
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70 posts Joined: Feb 2011 |
QUOTE(yhtan @ Apr 5 2012, 11:33 AM) 1)Cannot, only applicable for medical fee The first one should be yes. It is now changed to care of parents. So hiring maid is part of the welfare. You have to prove that the maid is hired for your parents. Sourced from ACCA F6 syllabus 2011.2)Can, but u have to keep receipt or any supporting document 3)Yes 4)Must be full medical check up Added on April 5, 2012, 4:22 pm QUOTE(eric84cool @ Apr 5 2012, 02:18 PM) I heard those companies donates for sport/charity etc organisation can claim for tax deduction but I wondering would it better to do so rather than having income taxed by government? would it save a lot?? Maximizing deductions provided in s.33. Ie. paying more salaries to relative employees. Claim entertainment expenses as much as possible. Organize company trip. You get to spend your money on holidays rather than paying more tax. There are still a lot more ways. Just try to maximize the deductions as much ad possible. =)I.e. Donate RM10K, maybe could deduct RM1k of tax but you have already spent RM10K in cash form + RM1k for tax. total RM11k. Keeping RM10K, you get taxed RM1k to 3K depending of tax bracket ....hence you folk out RM3k only. This post has been edited by jack1888: Apr 5 2012, 04:30 PM |
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Apr 5 2012, 05:14 PM
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All Stars
18,411 posts Joined: Oct 2010 |
QUOTE(eric84cool @ Apr 5 2012, 02:18 PM) I heard those companies donates for sport/charity etc organisation can claim for tax deduction but I wondering would it better to do so rather than having income taxed by government? would it save a lot?? Thats why it is call Donation. Any tax deduction is a bonus.I.e. Donate RM10K, maybe could deduct RM1k of tax but you have already spent RM10K in cash form + RM1k for tax. total RM11k. Keeping RM10K, you get taxed RM1k to 3K depending of tax bracket ....hence you folk out RM3k only. Added on April 5, 2012, 5:18 pm QUOTE(konchesky @ Apr 5 2012, 11:56 AM) I doubt is only for medical fee. I think you also need a doctor to certify that medical condition requires special care.With effect from YA2011, medical treatment for parents is extended to include expenses to care for parents. That's why i am curious whether hire cambodian maid can be deductible or not (for parents who suffer in cancer). This post has been edited by MGM: Apr 5 2012, 05:18 PM |
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Apr 5 2012, 06:43 PM
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Junior Member
70 posts Joined: Feb 2011 |
QUOTE(countdown @ Apr 3 2012, 11:47 AM) For rental income, I forgotten to pay for Quit Access 2010. However, i had settled everything including penalty at 2011. All these payments are considered as expenses for YA2011 though the payment includes 2010? the payment should be deductible in YA 2010. by the way, penalties cannot be included as deductions as they are specifically prohibited by IRB. This post has been edited by jack1888: Apr 5 2012, 06:52 PM |
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Apr 5 2012, 11:08 PM
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Senior Member
633 posts Joined: Jan 2006 |
QUOTE(konchesky @ Apr 5 2012, 10:38 AM) Hi All, need your professional advise on the following: 1. Yes if your husband is doing the claim and can be verified by medical practitioner. YOU cannot claim for mother in law.1) medical for parents - my mother in law sis immobility (leg handicap) and suffer brain cancer, due to all her children are working, thus my husband hired cambodian maid to take care of her, can it be entitle for RM5000 max relief (cambodian maid salary)? very confused, some said can be claim, some said cannot. 2) Purchase of book - if i purchase book in oversea, can it be entitle for RM1000 max relief? 3) Purchase of sport equipment - purchase golf ball, golf set (golf club), badminton racket, badminton shuttlecock, can it be entitle for RM300 max relief? 4) medical examination expenses - if i purchase blood test package at pathlab or bp lab, can it be entitle for RM500 max relief? 2, Yes 3. All in your list =yes 4. No. Only FULL medical examination. Don't think blood test only can be considered FULL medical exam. QUOTE(periwater @ Apr 5 2012, 02:25 PM) Hi, I've wrote an email to LHDN since 20th March 2012 to inquire about 'penyakit yang sukar diubati'. However until to date, there is no reply from them. Answers to your queries should be found hereMay I know what is the turn around time for them to response? Thanks a lot. http://www.hasil.org.my/pdf/pdfam/PENYAKITSERIUS.pdf |
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Apr 6 2012, 01:58 PM
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324 posts Joined: Mar 2011 |
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Apr 6 2012, 11:09 PM
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918 posts Joined: Jul 2011 |
Reading through this thread, still confused about deferred annuity.
I notice there's the word "deferred annuity" in my insurance receipt and there's a stated amount there. Can I just fill in this amount into deferred annuity in income tax form? Another question is, I'm taking housing loan with spouse means add up the amount of interest charged and divided by 2? Do I need to call the bank to verify again the amount of interest charged or just use the amount in monthly statement? |
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Apr 7 2012, 08:57 PM
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Junior Member
70 posts Joined: Feb 2011 |
For the dividend received from shares & already been deducted with 25% tax,
may i know shall i report my deduction of tax paid at Section 51 Financial Act or Section 110 ? Thanks. This post has been edited by Evening: Apr 7 2012, 08:59 PM |
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