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 Income Tax Issues v2

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ck23
post Apr 22 2012, 11:31 AM

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is iphone data plan considered broadband subscription?
ck23
post Apr 23 2012, 10:01 AM

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QUOTE(Jason @ Apr 21 2012, 03:40 PM)
quick question
i receive subsistence when travelling overseas for work. is the money received taxable or not? e.g. US$100 per day in USA.

because it seems last year i was taxed for it..this year I doing e-filing myself and its big question mark.
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Any income which is derived from Malaysia is taxable.
Your case, it is an employee who performs duties outside Malaysia which are incidental to his employment in Malaysia.
So, it is taxable.

Anyway, you can claim relief to save tax.


Added on April 23, 2012, 10:03 am
QUOTE(mobio.dev @ Apr 22 2012, 07:31 PM)
no its data plan, need to be broadband
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APAKAH YANG DIMAKSUDKAN DENGAN JALUR LEBAR
2.1 Internet merupakan satu rangkaian sedunia komputer yang
tersambung menerusi talian telefon, gentian optik dan teknologi tanpa
wayar. Usaha untuk menghasilkan sambungan internet yang lebih
pantas terus dijalankan dan teknologi jalur lebar terbaharu terus
diperkenalkan.
Dialup services adalah sambungan internet melalui talian telefon
dengan kelajuan 56kbps manakala sambungan internet melalui jalur
lebar adalah melalui kabel atau DSL (Digital Subscriber Line) dengan
kelajuan yang lebih tinggi. Kelebihan jalur lebar adalah di mana
sesuatu laman boleh dimuat turun lebih pantas berbanding talian dail.

I got it.

iPad is treated as a Personal Computer because it can function like a PC.

Info from recent IRB Conference.


Added on April 23, 2012, 10:07 amMedical and Life Insurance.

Should we look at policy and apportionate them out?

Should premiums are paid for Life + Medical + Other.

How do we count for Other??

Traced to one of the policy summary.

ZZzz headache.

This post has been edited by ck23: Apr 23 2012, 10:07 AM
ck23
post Apr 23 2012, 04:30 PM

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QUOTE(countdown @ Apr 23 2012, 03:23 PM)
Your insurance annual statement will state them out clearly.

Ex:
Basic Life Premium Insurance: RMxxxx.xx
Medical Insurance Premium: RMxxxx.xx

If you didn't received ur statement, perhaps u can call their call center, for Prudential they will be able to fax to u immediately.
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Understood.

This year I took over my client from a tax agent. That tax agent did it wrong. They put lumpsum insurance premium. Didnt take out life portion.
NOOB TAX AGENT!!!! FURTHERMORE CHARGE RM400 for tax comp last year. THIS YEAR CHARGE RM600!!!

I only take RM100 for such service.


Added on April 23, 2012, 4:39 pm
QUOTE(Jason @ Apr 23 2012, 11:33 AM)
"Any income"

but its not income, more like allowance? its to pay for meals, laundry etc.
e.g. going overseas for a 3 day conference.

I still get my same monthly salary and I am not posted overseas for work, just overseas for meeting or exhibition etc.

the company pays for accommodation, and then gives us subsistence/allowance
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If it's meal allowance, it's fully exempted.

How did it print out in your payslip?

If stated with Meal Allowance, tax exempt. If not, any allowance is considered employment income.

Sometimes, it's so conflict when HR prepares your EA Form. It's better to do it by your own or consult tax adviser.


Added on April 23, 2012, 4:45 pm
QUOTE(mobio.dev @ Apr 23 2012, 03:11 PM)
hi, just want to confirm, till last year I've submitted BE form, but this year I'm going to submit B form, is it ok if I just submit B form before June or need to inform to LHDN about this changes before end of April, as I know my previous income tax no is SG..., so once I submit B form, it will automatically change to SO....,

pls advice
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To be precise, B form is OG, not SO.

You may inform IRB anytime.

Actions wont be taken so fast. If you missed April submission, it's impliedly known that you will be submitting on June.

Call them to play safe, tho.

This post has been edited by ck23: Apr 23 2012, 04:45 PM
ck23
post Jul 29 2012, 05:03 PM

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QUOTE(hanisjoey @ Jul 29 2012, 07:39 AM)
Hello, guys! i need ur favor to answer this survey (click the link below). it's about e-filing.

https://docs.google.com/spreadsheet/viewfor...XTWtpODhSN0E6MQ

actually, i'm doing a research on e-filing system. whether it is good or not. this is for my extended essay (ib program). so, if u guys got 5 minutes, pls answer in this survey!  thank you! biggrin.gif
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document is not exist bro.
ck23
post Apr 11 2013, 02:42 PM

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hey guys, is PA insurance tax deductible?

Allianz Supershield.
ck23
post Apr 11 2013, 02:43 PM

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I just realised that we could not simply claim tax relief in medical expenses (for serious disease) category.

It must be a serious disease, like cancer, etc.

Jz sharing.
ck23
post Apr 11 2013, 02:56 PM

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is dental treatment claimable as tax relief?

Which category fits most?

Medical Check up? Medical expense is a bit hard, its not of serious disease.
ck23
post Apr 11 2013, 03:08 PM

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QUOTE(David83 @ Apr 11 2013, 03:03 PM)
Medical check up must be a full body extended to spouse and children IIRC.
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For ownself is also countable right? Do you know a full body check up for one person is more than RM500 already.
ck23
post Apr 11 2013, 04:28 PM

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QUOTE(David83 @ Apr 11 2013, 04:05 PM)
Your ownself, your spouse and/or your children.

By the way, I didn't set that figure. If you're not satisfied, please raise it to LHDN or don't vote for BN.

As for the medical expenses (self), you can only claim for chronic diseases.
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Thank you. I won't vote for BN. Our tax money all become black money because it's been laundered to overseas.
ck23
post Aug 14 2013, 09:50 PM

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director fee paid in the year needs to deduct for PCB in the next month?

If no deduct for PCB, or missed the proper period to deduct, would it be a company's fault?

Say,
I owed my company 10k last year, this year I take 10k as director fee (proper company resolution filed)

It's just off set during financial year end.

But I didn't deduct for PCB.

Now I have two ways.

One is to let it be. Thinking to pay the extra during BE submission. but there's a risk of company fault as didn't deduct and collect proper PCB on behalf of employee.

Second, since it's an offset approach, I might as well ask auditor to adjust amount owing to director 10k, and other receivables 10k, make them exist, instead of offsetting them. In this case, I'd just pay for PCB whenever I want to receive or off set the amount.

Which approach is better?

Or do you guys have any better suggestion?

I personally think second one works.

When I declared payment of the director fee, then only pay PCB in the next month before 10th of every month.
This is because director fee is taxable on the actual receipt.

I'm like self questioning, and self answering. Just wanna double confirm. Thanks.

This post has been edited by ck23: Aug 14 2013, 09:59 PM
ck23
post Sep 8 2013, 07:42 AM

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QUOTE(serdan @ Sep 6 2013, 10:10 AM)
to all taikor here. i am a newbie in this forum.  icon_question.gif

can i ask what is the benefits or tax saving if i set up a company and register the properties that i own? how can we save from paying tax? thanks in advance for all advice.  smile.gif
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do you mean setting up a investment holding company?

If the property is already owned by you, the title is belong to you, not the company.
ck23
post Sep 18 2013, 03:39 PM

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QUOTE(serdan @ Sep 18 2013, 02:30 PM)
it is ok. if register company name can get have more tax saving, then can change name or register name under company for future property.

just wonder what is the saving can be?  hmm.gif
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It allows you to buy more properties with a Sdn Bhd, either running on business or solely an investment company.

By buying more property, you are earning it as property prices are increasing. Got buy got earn concept.

Maybe an investment holding / investment dealing company would allow you to deduct certain related expenses.

That's part of the tax savings.

ck23
post Sep 18 2013, 03:45 PM

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QUOTE(RokXIII @ Sep 9 2013, 12:55 PM)
I received a letter from LHDN asking to pay the extra tax, but the thing is, i don't even know how they calculate the amount and why do i have to pay the extra tax.

could anyone please advise?
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check back your tax computation. Maybe certain default add back figure like RM3000 relief for Critical Illness (IRB always assume ppl dont have critical illness at young age and might misclaim.)

Check if you got claim Critical Illness RM3000, Supporting medical equipment, or anything fits the figure RM3726.00

If you have objection, please write a letter to them and show them your original receipts.

IRB is clever now, they don't do Desk Audit, they directly assume for misclaim in tax computation and issue you a JA.

Some ppl scare, just pay accrodingly; whereas some ppl fight till they drawback the JA and close file.

This post has been edited by ck23: Sep 18 2013, 03:46 PM

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