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 Income Tax Issues v2

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eric84cool
post Feb 1 2012, 02:57 PM

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QUOTE(cherroy @ Jan 29 2012, 05:42 PM)
Allowances, incentive, or whatever are counted into your gross income, unless there is income tax ruling stated otherwise that stated it is tax exempted,
if not any form of income you get, even non-cash like car given by company for you to drive/travel are considered as Benefit in kind (BIK), which also contributed into your gross taxable income.
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QUOTE(db07mufan @ Jan 29 2012, 05:58 PM)
Thanks for the reply cherroy, just curious cos i saw this statement .
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in my company EA form, there isn't allowance stated in the form, only basic gross salary + bonus. So do I need to declare the allowance by myself as well? sweat.gif


QUOTE(cherroy @ Feb 1 2012, 02:47 PM)
Yes, if not more than 5 years, at current RPGT rules.
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Can I assume RPGT rules apply on residence properties??? and sometimes I could find there are ppl who could buy and sell the house property within short frame like 1 or 2 months without paying for RPGT...how they do that? doh.gif
eric84cool
post Apr 5 2012, 02:18 PM

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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.

eric84cool
post Apr 7 2012, 10:20 PM

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QUOTE(adrian_huen @ Apr 7 2012, 10:17 PM)
i have a question on parent medication limit to RM5,000.
does this have any limitation?...
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as long as it's medical treatment for ur parent ....u can claim up to RM5k max!!!
eric84cool
post Apr 8 2012, 06:37 PM

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QUOTE(adrian_huen @ Apr 7 2012, 10:32 PM)
thx for the info, but i hear is limit to certain sickness, is this true?
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that one is under "D6 - medical expenses on serious diseases".

under "D2 - medical treatment" . you could claim any treatment or medical care for parent except for those beautify treatment like cosmetic dental treatment, or plastic surgery.


Added on April 8, 2012, 6:39 pm
QUOTE(bat11 @ Apr 8 2012, 05:34 PM)
Just wanna find out. I bought a house with 2 of my friends ( total 3 purchasers) In 2010. Am I entitle for the max claim of rm10k per year for 3 years? If 3 buyers, is it mean only rm3333 tax relief for each of us? Please clarify. Thanks a lot!
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is the S&P agreement named after 3 of you? and make sure the residential property does not have rental income to qualify for the claim. And for the split, I guess the best you could consult LHDN officer on it...

This post has been edited by eric84cool: Apr 8 2012, 06:39 PM

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