Welcome Guest ( Log In | Register )

Bump Topic Topic Closed RSS Feed

Outline · [ Standard ] · Linear+

 Income Tax Issues v2

views
     
MGM
post Dec 23 2011, 10:14 AM

10k Club
********
All Stars
18,400 posts

Joined: Oct 2010
Got this from FAQ of LHDN (FAQBEENG2010_01042011_1.pdf):

Q37: I have bought the computer components separately, that is monitor keyboarad, mouse and others. Can I claim relief for purchase of computer in item D8A in our Form BE 2010?

A37: The claim for the relief of purchase of computer will only be allowed if the purchases which were done separately were meant for assembling a full set and the purchases were made in the same year.


Wonder if I buy a tablet computer can I lump wireless keyboard/mouse/headphone, printer, ext-HDD/media player, 24" flat-screen monitor as a FULL set? What about other tablet accessories bought separately? I bet if you pose this Question to 10 IRB officers, some will say NO, some say yes and some say don't know.


Let say in 2010 I bought a PC and claim for tax relief of rm3000. Can I sell it off a few months later say in 2010 or 2011?

This post has been edited by MGM: Dec 23 2011, 10:32 AM
MGM
post Dec 29 2011, 01:14 PM

10k Club
********
All Stars
18,400 posts

Joined: Oct 2010
If I buy a notebook (rm2400) with extras (cost rm600) like:
- 4GB RAM upgrade
- MS-Office Home
- wireless keyboard/mouse
- Wireless router (to replace UNIFI router)
- wireless headphone with mic

Can I claim a relief of rm2400 or rm3000?
Or only some of the extras can claim the relief.

This post has been edited by MGM: Dec 29 2011, 01:18 PM
MGM
post Dec 29 2011, 10:18 PM

10k Club
********
All Stars
18,400 posts

Joined: Oct 2010
QUOTE(ronnie @ Dec 29 2011, 09:26 PM)
it would RM2400 as tax relief...
*
At least the software, 4GB upgrade and the mouse can be included for the tax relief. Or may be the accessories should be package in as free items then they be included for the relief?


Added on December 29, 2011, 10:19 pm
QUOTE(temptation1314 @ Dec 29 2011, 09:50 PM)
Bought a running shoes from Nike today while they have clearance around RM300, biggrin.gif
*
I thought shoes dont qualify for tax relief under sports equipment.

This post has been edited by MGM: Dec 29 2011, 10:19 PM
MGM
post Feb 3 2012, 07:26 AM

10k Club
********
All Stars
18,400 posts

Joined: Oct 2010
Would like to get feedback regard this tax exempt benefit:

(d) Leave passage for travel (confined only to the employee and members of his immediate family i.e. spouse and children):
- within Malaysia not exceeding three times in any calendar year (cost of fares, meals and accommodation); or
- between Malaysia and any place outside Malaysia not exceeding one passage in any calendar year, is limited to a
maximum of RM3,000 (only cost of fares);

Read from a book that if our company does not provide this benefit, we can suggest to the company to replace guranteed bonus with this to reduce paying tax. If the company agreed how do we go about it?
Do we need to submit receipts when claiming from the company?
Does cost of fare include taxi, car rental, boat, cruise during the trip?
Only meals with receipt can claim?

Thanks in advance.
MGM
post Mar 13 2012, 04:22 PM

10k Club
********
All Stars
18,400 posts

Joined: Oct 2010
If a person owns a 2-storey shop house and let the parents use it for free. The parents stay on the upper floor and collect and keep the rental on the ground floor for their daily expenses. Can this rental income be declared under the parents?
MGM
post Mar 13 2012, 05:41 PM

10k Club
********
All Stars
18,400 posts

Joined: Oct 2010
QUOTE(cherroy @ Mar 13 2012, 05:13 PM)

Added on March 13, 2012, 5:15 pm
No.
Rental income based on property owner.
*
What if the shop house is rented out to the parents for a token sum? And the parents sublet out the ground floor?

This post has been edited by MGM: Mar 13 2012, 05:41 PM
MGM
post Mar 23 2012, 10:30 PM

10k Club
********
All Stars
18,400 posts

Joined: Oct 2010
Amanah Saham 1Malaysia (AS1M)Amanah Saham 1Malaysia was launched on 31 July 2009 by sixth Malaysian Prime Minister, Najib Tun Razak with a fund size of 10 Billion. AS1M is open to all Malaysian citizen with a quota of 50% for Bumiputera, 30% Chinese, 15% Indian and 5% others. AS1M has no upper limit on the value of an account, so capital gains which are retained in the account are allowed. Capital gains in AS1M accounts are not subject to taxes until 2019. Dividends are paid each year and put back into the account so that compounding is achieved.


Added on March 23, 2012, 10:33 pm
QUOTE(DM3 @ Mar 23 2012, 09:13 PM)
i tried playing around with the dividents frm ASM/W etc, can get better overall rebates at the end tongue.gif
*
You mean you are going to declare your ASM/ASW dividends as your taxable income?

This post has been edited by MGM: Mar 23 2012, 10:33 PM
MGM
post Mar 29 2012, 09:10 AM

10k Club
********
All Stars
18,400 posts

Joined: Oct 2010
Bingo!!! received a letter from HASIL to submit all 2010 documents for audit within 30 days. Need to photocopy all document for safekeeping and send them the original by courier or by hand, no interview.
Wonder how long they will keep the original, some of which has already turn blurr due to thermal-paper bill ? Hope they are accepted. In future must make copies or scan into computer before they turn illegible. Never know they will call up to audit earlier assessment.
MGM
post Mar 30 2012, 01:09 PM

10k Club
********
All Stars
18,400 posts

Joined: Oct 2010
QUOTE(Izac Yeoh @ Mar 29 2012, 11:41 PM)
Last time we have an argument with the IRB's officer on the broadband relief. For them broadband are those portable modem but not streamyx. Weird.  I do know what is their latest stand now. Apart from my role as a tax consultant, personally i claimed this relief on my streamyx bill as well. I do not agree on their theory.


Added on March 29, 2012, 11:44 pm
Ya. Agree. They accept electronic supporting document too but the original still cannot throw. Must keep. If not they have the right to deny your claim.

*
So does the IRB accept streamyx as broadband?
Just check LHDN websites, as long as speed above 256Kb considered broadband.

They request that I send in the original for audit but advise me to keep hardcopy/scanned copies. Didn't ask them whether can send them electronic copies instead. Anyone did that?

This post has been edited by MGM: Mar 30 2012, 01:19 PM
MGM
post Apr 5 2012, 05:14 PM

10k Club
********
All Stars
18,400 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??

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.
*
Thats why it is call Donation. Any tax deduction is a bonus.


Added on April 5, 2012, 5:18 pm
QUOTE(konchesky @ Apr 5 2012, 11:56 AM)
I doubt is only for medical fee.

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).
*
I think you also need a doctor to certify that medical condition requires special care.

This post has been edited by MGM: Apr 5 2012, 05:18 PM
MGM
post Apr 8 2012, 01:24 PM

10k Club
********
All Stars
18,400 posts

Joined: Oct 2010
QUOTE(adrian_huen @ Apr 7 2012, 10:32 PM)
thx for the info, but i hear is limit to certain sickness, is this true?
*
Any medical bills for any problem.

This post has been edited by MGM: Apr 8 2012, 05:45 PM
MGM
post Apr 10 2012, 02:22 PM

10k Club
********
All Stars
18,400 posts

Joined: Oct 2010
QUOTE(protonw @ Apr 9 2012, 06:53 PM)
I tried call IRB but cant get any human to talk to me, perhaps some tax expert here can help answer my question here.

Can parents medical expenses of more than 10k be claimed by both her daughter/son as parents medical expenses at maximum of 5k each? Hope sifu here can also give some links.  notworthy.gif  notworthy.gif
*
Yes. Only problem, is the payee's name on the bill (if any) one of the children?
MGM
post Apr 11 2012, 06:47 AM

10k Club
********
All Stars
18,400 posts

Joined: Oct 2010
QUOTE(Izac Yeoh @ Apr 10 2012, 03:52 PM)
Hey guys, if got any tax query can pm me.. smile.gif
*
Are u a qualified tax consultant?
MGM
post Apr 27 2012, 06:26 AM

10k Club
********
All Stars
18,400 posts

Joined: Oct 2010
QUOTE(ngaisteve1 @ Apr 26 2012, 11:47 PM)
Can I still claim for old tax relief which I didn't claim on my many previous years? Example books, unit trust and share dividend for many previous years.
*
UT and share dividends are incomes. If you submit now it means you have undeclared past incomes which might invite fines. So seek expert advice.
MGM
post Apr 27 2012, 02:00 PM

10k Club
********
All Stars
18,400 posts

Joined: Oct 2010
I think coming weekend most LHDN offices open from 8am-6pm.
MGM
post Jul 3 2012, 04:01 PM

10k Club
********
All Stars
18,400 posts

Joined: Oct 2010
QUOTE(DM3 @ Jul 3 2012, 02:48 PM)
anyone got called to declare receipts/documents as evidence?
*
I did, what do u want to know?

MGM
post Jul 3 2012, 05:24 PM

10k Club
********
All Stars
18,400 posts

Joined: Oct 2010
QUOTE(DM3 @ Jul 3 2012, 05:19 PM)
yea if no receipt for some items, any penalty?
*
Can't help u on that, as I have all the supporting documents.
MGM
post Dec 13 2012, 09:50 PM

10k Club
********
All Stars
18,400 posts

Joined: Oct 2010
QUOTE(jes88 @ Dec 8 2012, 10:48 AM)
regarding the broadband claim, my broadband aka postpaid contract from julai 2012-jun 2013, can i claim it on next year? need to collect every month bill as prove?
*
The Broadband tax deduction is only allowed for Years of Assessment 2010, 2011 and 2012.


MGM
post Apr 15 2013, 10:54 PM

10k Club
********
All Stars
18,400 posts

Joined: Oct 2010
QUOTE(Joy~ @ Apr 15 2013, 04:36 PM)
Just found out this: 60% of Medical/Life insurance premium is claimable under medical insurance tax relief of maximum RM 3,000

I got a Medical/Life insurance policy.  If my EPF already took up RM6K, that mean I could claim 60% of Medical/Life insurance premium under medical insurance tax relief??  Last year I only claimed the medical premium sad.gif which is lower than 60% of medical/life premium.

Please advise...thanks
*
I have read many articles on local personal tax matters but had never come across this 60% thingy. I normally will receive statements of all my insurance policies in March every year and they will separate out the life and medical portions.
MGM
post Jun 10 2013, 12:43 PM

10k Club
********
All Stars
18,400 posts

Joined: Oct 2010
Efiled on 30-4-13 and was waiting for tax refund notification mail. Check my bank acc and it was already in on 21-5. Normally will receive notification first.

2 Pages  1 2 >Top
Topic ClosedOptions
 

Change to:
| Lo-Fi Version
0.0273sec    0.83    7 queries    GZIP Disabled
Time is now: 1st December 2025 - 05:20 PM