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 Income Tax Issues v2

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Drian
post Mar 13 2012, 02:46 PM

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A very quick question.

I have two properties, an apartment fully paid and a house under a loan. The SnP for the house under the loan was signed July 2010. Can I include the 10k bank interest for deduction?
Drian
post Mar 14 2012, 11:09 AM

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QUOTE(countdown @ Mar 13 2012, 05:58 PM)
Yes you can provided:

1) you must be a CITIZEN and RESIDENT to M'sia.
2) NO income derived from this property.
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Understood. Thanks a lot.


Added on March 14, 2012, 11:12 am
QUOTE(dannyw @ Mar 13 2012, 11:34 AM)
Guys,

Need some advice on Interest on housing loan.

The cross put as below:
An amount limited to a maximum of RM10,000 is deductible for each basis year for a period of three consecutive years of assessment beginning from the date in which the interest is first expended.

I bought my house on August 2009, so this is the third year I fill up the rebate column. The question is count by year or month? By next year am I still entitle for the rebate of this? Is there another 7 months for me to rebate?
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If i'm not mistaken 2011 is the last year you can claim. You won't see that column anymore for next year(2012)




This post has been edited by Drian: Mar 14 2012, 11:12 AM
Drian
post Apr 23 2012, 01:20 PM

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Those of you who submitted in the middle of march, have you guys received your refund?

Drian
post Apr 25 2012, 09:27 AM

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QUOTE(dannyw @ Apr 25 2012, 09:17 AM)
Mind to share the amount range of the refund?

Because I notice if my refund is about rm200 or below, get it within few weeks. However, my last year refund almost 1k, took me more than 6mth to get it back..... sweat.gif

Wonder how about this year.
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mine is 1.2k, mostly is from the 10k house loan deduction. Submit at middle of march and haven't got it back yet.... getting ready of all the documents if they ask.


This post has been edited by Drian: Apr 25 2012, 09:28 AM
Drian
post Apr 27 2012, 09:50 AM

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QUOTE(munkeyflo @ Apr 27 2012, 07:43 AM)
By right should be split evenly.
If they check, they might question why put all the income under your wife and not split evenly.
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Why should it be split evenly?

Just have to make sure that the stamped agreement with tenant is with the person paying the tax.


This post has been edited by Drian: Apr 27 2012, 10:30 AM

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