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 Income Tax Issues v2

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dingoyat
post Apr 16 2012, 10:01 AM

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How much tax agent charge?
rayng18
post Apr 16 2012, 10:46 AM

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QUOTE(dingoyat @ Apr 16 2012, 10:01 AM)
How much tax agent charge?
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it depends on how complex your tax filing is? range from hundred to few Ks
mobio.dev
post Apr 16 2012, 10:51 AM

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its depends on ur nature of business, type of filing, how though is ur filing

QUOTE(dingoyat @ Apr 16 2012, 10:01 AM)
How much tax agent charge?
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Izac Yeoh
post Apr 16 2012, 02:47 PM

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QUOTE(MGM @ Apr 11 2012, 06:47 AM)
Are u a qualified tax consultant?
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Yes.. just for sharing.. because i don visit this thread often so hope u guys can pm me if got any question which has not been answered.. smile.gif
Molotov Cocktail
post Apr 16 2012, 10:30 PM

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help needed!, how to fill hk-3 form, how come when i fill in all the blanks and the regrossed dividend became exactly same as grossed dividend and tax deemed deducted become the same as tax deducted? did i fill it wrongly?? in the tax rate blank which rate should be filled? our tax rate or the company's tax rate? im confused
penangmee
post Apr 17 2012, 12:08 AM

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QUOTE(Molotov Cocktail @ Apr 16 2012, 10:30 PM)
help needed!, how to fill hk-3 form, how come when i fill in all the blanks and the regrossed dividend became exactly same as grossed dividend and tax deemed deducted become the same as tax deducted? did i fill it wrongly?? in the tax rate blank which rate should be filled? our tax rate or the company's tax rate? im confused
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You filled correctly(if you are using eFiling). The tax rate is 25%. There should be no difference in the keyed in field with the computed field for 2011.

Molotov Cocktail
post Apr 17 2012, 12:17 AM

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so meaning i can get tax refund for that amount? what procedure must i do next to get refung? need to submit anything to irb? sorry this is my first time claiming tax refund from dividend
rayng18
post Apr 17 2012, 07:00 AM

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QUOTE(Molotov Cocktail @ Apr 17 2012, 12:17 AM)
so meaning i can get tax refund for that amount? what procedure must i do next to get refung? need to submit anything to irb? sorry this is my first time claiming tax refund from dividend
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it depends on your tax band, if you are paying 10% tax, you get back 15% (25% tax already deducted for your dividend minus 10% tax band that you fall into), if you are not taxable you get back whole 25% and likewise if you are in 25% or more,you get nothing. Just keep all your dividend vouchers together with all your other supportings in case IRB do an audit on your file.
Molotov Cocktail
post Apr 17 2012, 10:18 AM

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QUOTE(rayng18 @ Apr 17 2012, 07:00 AM)
it depends on your tax band, if you are paying 10% tax, you get back 15% (25% tax already deducted for your dividend minus 10% tax band that you fall into), if you are not taxable you get back whole 25% and likewise if you are in 25% or more,you get nothing. Just keep all your dividend vouchers together with all your other supportings in case IRB do an audit on your file.
*
thanks for the help, actually i fall into 7% tax rate group, meaning i should get refund for the other 18% right? i already fill in the required field in the efiling, and because of my zakat i end up don't have to pay for tax, but it said i get refund for the whole tax deducted from the dividend, which is the whole 25% deducted tax, is this correct? i thought i'll only get refund for 18% from the deducted tax of the dividend
rayng18
post Apr 17 2012, 10:35 AM

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QUOTE(Molotov Cocktail @ Apr 17 2012, 10:18 AM)
thanks for the help, actually i fall into 7% tax rate group, meaning i should get refund for the other 18% right? i already fill in the required field in the efiling, and because of my zakat i end up don't have to pay for tax, but it said i get refund for the whole tax deducted from the dividend, which is the whole 25% deducted tax, is this correct? i thought i'll only get refund for 18% from the deducted tax of the dividend
*
In that case I think you will not be getting any as the 18% extra that you paid is being offset with you zakat. As all computations are filled up, all tax paid will also be in the computation, so the final figure is whether you need to pay tax or no need to pay or get tax refund (ie all tax paid previously if you fill in the computation are factored in already).
my-logitech
post Apr 17 2012, 10:38 AM

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can i claim parent medical using clinic receipt?
on receipt printed payment received from my parent name, which is the patient.
Izac Yeoh
post Apr 17 2012, 11:41 AM

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QUOTE(Molotov Cocktail @ Apr 17 2012, 10:18 AM)
thanks for the help, actually i fall into 7% tax rate group, meaning i should get refund for the other 18% right? i already fill in the required field in the efiling, and because of my zakat i end up don't have to pay for tax, but it said i get refund for the whole tax deducted from the dividend, which is the whole 25% deducted tax, is this correct? i thought i'll only get refund for 18% from the deducted tax of the dividend
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Yes, for your case u will get back your whole tax deducted on your dividend income.


Added on April 17, 2012, 11:42 am
QUOTE(my-logitech @ Apr 17 2012, 10:38 AM)
can i claim parent medical using clinic receipt?
on receipt printed payment received from my parent name, which is the patient.
*
yes

This post has been edited by Izac Yeoh: Apr 17 2012, 11:42 AM
Molotov Cocktail
post Apr 17 2012, 12:55 PM

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QUOTE(rayng18 @ Apr 17 2012, 10:35 AM)
In that case I think you will not be getting any as the 18% extra that you paid is being offset with you zakat. As all computations are filled up, all tax paid will also be in the computation, so the final figure is whether you need to pay tax or no need to pay or get tax refund (ie all tax paid previously if you fill in the computation are factored in already).
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QUOTE(Izac Yeoh @ Apr 17 2012, 11:41 AM)
Yes, for your case u will get back your whole tax deducted on your dividend income.
so which one is correct? will i get refund or not? what must i do next, after submit the efiling online, do i need to send the HK-3 borang by post to LHDN? i've read before need to send the HK-3 and dividend voucher in order to get tax refund
ronnie
post Apr 17 2012, 02:47 PM

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goliath
post Apr 17 2012, 09:26 PM

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Has anybody got back their refunds? I filed at the end of last month and there's still no news from them.
DM3
post Apr 18 2012, 08:02 AM

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QUOTE(goliath @ Apr 17 2012, 09:26 PM)
Has anybody got back their refunds? I filed at the end of last month and there's still no news from them.
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same here not yet, should be soon i think, those filed it earlier in march got it within 2 weeks but later more people files it so thats why more for them to compute it probably
ronnie
post Apr 18 2012, 08:49 AM

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countdown
post Apr 18 2012, 09:17 AM

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QUOTE(Molotov Cocktail @ Apr 17 2012, 10:18 AM)
thanks for the help, actually i fall into 7% tax rate group, meaning i should get refund for the other 18% right? i already fill in the required field in the efiling, and because of my zakat i end up don't have to pay for tax, but it said i get refund for the whole tax deducted from the dividend, which is the whole 25% deducted tax, is this correct? i thought i'll only get refund for 18% from the deducted tax of the dividend
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u can't just minus 25% with 7% bsc 25% is based on dividend and 7% is based on your CI - both are not common. You only can minus through their absolute value

Ex:
7% of your CI (RM15,000) = 1,050
25% of your dividend (RM1,000) = 250

Thus, 1,050 - 250 = 800 and 800 is neither 18% of your CI nor your dividend smile.gif.



As for the zakat, since you mentioned that due to your zakat, u ended up need not have to pay any tax, I assumed that on bahagian E9 has to be zero. And on bahagian E11 (S110) is RM250 (by using the above numbers as an example). Therefore, you'll get back all your 25% deducted tax under bahagian E15 (Cukai Dibayar Balik) bsc your E9 is zero smile.gif.

This post has been edited by countdown: Apr 18 2012, 05:32 PM
mobio.dev
post Apr 18 2012, 11:26 AM

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QUOTE(Molotov Cocktail @ Apr 17 2012, 12:55 PM)
so which one is correct? will i get refund or not? what must i do next, after submit the efiling online, do i need to send the HK-3 borang by post to LHDN? i've read before need to send the HK-3 and dividend voucher in order to get tax refund
*
turbocharged
post Apr 18 2012, 09:49 PM

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i have made payment through maybank2u, but my finger too itchy, i close right after i saw the maybank transaction successful.

so, how do i confirm the payment they have received it?

( I din get to see the sijil pengesahan pembayaran....i close it) only have a printscreen of maybank payment....or should i wait until they want to fine me and send me letter?

there is no way to check....

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