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 Income Tax Issues v2

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rayng18
post Dec 20 2011, 11:19 AM

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QUOTE(sheng @ Dec 19 2011, 06:19 PM)
sorry for my noob question. but want to ask something..
if company deduct ur earnings every month for tax...those tax are not subjected to any reliefs rite? so confirm u will pay more lor..
how do we go about this? how can we get a rebate for the extra taxes that we have paid...? how long does it take for LHDN to pay u back the money?
is it done on april every year?
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When you do your income tax filing in April you just compute like normal and derive what is the amount of tax that you need to pay then deduct the total amount that was deducted by your co as tax. If tax deducted is more than you need to pay then wait for the refund and if tax deducted is less than what you are taxed then you need to pay the difference to IRB.

Your EA form should indicate at the bottom the total amount tax that employer has deducted to pay IRB for the year.
rayng18
post Jan 5 2012, 03:57 PM

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QUOTE(hitsugaya2010 @ Jan 5 2012, 03:20 PM)
I have just started working last year July, so far i haven't report or register for tax paying. When do i need to start paying tax? When to report out? some told me its early this year and do i have to pay starting from the date i start working?
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you need to open a file with IRB (usually your company HR will do it for you) then you will be given a file number then you need to declare your income for YA2011 and compute whether you need to pay income tax or not. Your company will issue you the EA form which shows your total income, bonus allowance, EPF contributions etc. Just fill the tax returns with the info on your EA form and submit by 30/4/12 for YA2011

This post has been edited by rayng18: Jan 5 2012, 03:57 PM
rayng18
post Jan 10 2012, 04:11 PM

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Usually after a company paid the income tax collected from employees to IRB there will be a reference number which the company will compile for the whole year and will pass to all employees together with the EA form. If the company did not make the payment then you have to go after the company and report to IRB about it
rayng18
post Jan 19 2012, 10:38 AM

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QUOTE(WhiteWing @ Jan 19 2012, 10:22 AM)
Good morning everybody,I been reading the thread from page 1 until here.

I just got some question in my mind now. sad.gif , Appreciate it if anyone could assist me. sad.gif

Right now I working with 1 company and my basic salary is RM 2,200 and fixed allowance is RM 400 = RM 2,600. I am paying EPF and socso for this company A. Then got a company B I been working as part time as a favor by helping them,they giving me a random salary every month, like November giving me RM 1,000,then December RM 1,400,then January RM 2,000. So sometimes this company B paying the salary to me is not fixed and this company I didn't contribute EPF and socso as I only part time.

Then salary became like this ..

November 2011 : RM 2,600 + RM 1,000 = RM 3,600
December 2011 : RM 2,600 + RM 1,400 = RM 4,000
January 2012 : RM 2,600 + RM 2,000 = RM 4,600

I think the figure sure reach around RM 3,500 every month, now I afraid  sweat.gif

So right now do I need to declare income tax or what  rclxub.gif. FYI I don't have EA form with me because I been keep on changing job for better pay and allowance.

Anybody can tell me what to do ?  notworthy.gif
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Although you change job often, need not worry, all employers are required to prepare the EA form to all its employees so for 2010 say you work for Co A full time and doing part time for Co B, you should be geting 2 EA forms from both Co A and Co B for 2010,if you have not got them ask from HR of both Co A and Co B for the EA form,then during submission of your income tax return in April 2012 just total up the annual income for both Co A and Co B.

I assume you have not open an income tax file with IRB, so you need to open your income tax file, usually your company HR will do it for you, just ask them to do it if not you have to go to IRB to open a file. No matter how big or small your income you still need to open an income tax file and declare your income. So check with your HR/IRB whether your income tax file is opened and you will be getting an income tax file reference number.
rayng18
post Jan 19 2012, 11:11 AM

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QUOTE(WhiteWing @ Jan 19 2012, 11:02 AM)
Rayng18,thank you so much. FYI I can get the EA form from company A because I just work there for 3 months only,before that I work with company C for 9 months, I grab that one from them too and company B said no EA form for me doh.gif

Is it I just need to submit EA form 2011 from company A and company C to IRB department?

Yes,I not yet have an income tax file with IRB. I don't want the company A HR to file the income tax because I don't want them to know I got side-income. In company A HR,they think my salary no need to declare because didn't reach the limit yet.

I heard the income tax will deduct 12% is it ?
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Co A will not know your side income they just submit your application to open the file only. It save you the hassle to go personally to open the file.
As for Co B part time, I am sure they have black and white when they pay you, if yes use that as your income proof, if not you don't declare that part time income (biut not recommended), and just compile Co A and Co C total income for 2011.
As indicated earlier, whether income reach limit or not can still open file one because sooner or later still will reach mah.
rayng18
post Jan 19 2012, 02:28 PM

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QUOTE(firee818 @ Jan 19 2012, 01:53 PM)
1) Company B didn't deduct EPF and Socso from u, meaning that this income is "illegal"
2) So, obviously Company B can't give u EA.
3) So u need to declare Company A and Company C income if u total income is over RM2500 (my advise) to IRB.
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1) totally disagree, eg,if you do part time unit trust consultant, mana ada deduct EPF or Socso, they still provide you with commission statement so you still have to declare
rayng18
post Jan 19 2012, 03:13 PM

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QUOTE(firee818 @ Jan 19 2012, 02:51 PM)
Then WhiteWing need to say clearly what is his part-time job, this will clear all the doubt.
No need to agree or disagree this and that and guess what is his part-time job.
See the word "SALARY" written by WhiteWing below. Look carefully before make any comment.

Wonder u react in such a weird way? hmm.gif

Added on January 19, 2012, 2:55 pm
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You are the one who is acting weird, as the part time income is not fixed its not called salary its called wages and its not illegal. you still have to declare all income earned, we are just trying to give an opinion and so arguments like this is normal to get everyone know.
rayng18
post Jan 19 2012, 03:45 PM

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QUOTE(firee818 @ Jan 19 2012, 03:25 PM)
Why just now u said it maybe commission and now turn the word to salary/wages?

Either salary or wages, it is required to contribute EPF and Socso by law.

Since u like to argue with me, then u need to give the reason why Company B didn't contribute EPF and Sosco for him? smile.gif
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its because we don't know that's why i say maybe and read further his part time pay is not fixed and yes it is by law part timers needs to contribute to EPF and Socso if he contributes 30% to 70% of his normal fulltime job time to his part time job
http://thestar.com.my/news/story.asp?sec=n.../20100818160440
all these are not known, maybe he work only just for few hours and the onus is on Co B to deduct EPF and Socso, and since he is getting paid (and pls be informed that payslip is given to him) he needs to declare his part time income also.
rayng18
post Jan 25 2012, 11:58 AM

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QUOTE(db07mufan @ Jan 21 2012, 11:17 PM)
A problem guyss,

i have just started working in the real world and realised my company has not deducted any pcb for me. I don;t even know if i have a account with income tax.

Do i need to register myself with LHDN or will HR do everything for me? When are the taxes due, i started working in august, so that means this august i'll need to submit my taxes?

Do i register online EDAFTAR and give the income tax number to HR so that they can start doing the PCB?
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Just check with your HR whether they have open the income tax file for you, if they have not ask them whether they will be doing so if not you will have to go to IRB to open one.

No worries you will know whether you need to pay tax when you do your YA2011 tax return in April 2012 due on 30/4/12
rayng18
post Feb 13 2012, 10:37 AM

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QUOTE(Tavia88 @ Feb 12 2012, 10:53 PM)
Hi, forumers.
Want to ask that is it whether I need to register myself as a tax payer only i can pay tax or once i got a company i would automatically need to pay tax?
This because I've just established a sole proprietor last year february and it is going to 1 year already.
I want to pay some tax so that its easier if i apply for any loan in future.
But i dont know anything and what is the first step i should do.
I do keep all my receipt for the whole year.
But i didnt register myself as a tax payer yet.
So, can i still pay tax for this upcoming terms?

Thanks. rclxms.gif
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For Tax purposes you need to declare your income for YA2011. Since your company was established in Feb 2011, you need to declare your income from Feb11 till Dec 11. If you have not open an income tax file, you may open at any of the IRB. As you have business income, your tax (if any ) will be due on 30/6/12 instead of the normal working employees who need to pay tax by 30/4/12.

You need to compute your income less any deductibles(Fe 11 to Dec 11) to determine whether you will be taxed or not
rayng18
post Feb 13 2012, 03:24 PM

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QUOTE(GloryKnight @ Feb 13 2012, 11:50 AM)
nope. I got nothing deducted yet for income tax. meaning to say I dont have to file income tax now? altho im earning salary already?

thx!

-GK-
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Just find out from your HR to see if they have open an income tax file for you. If not you have to ask them to do so or u just to to IRB to get it done.
Altho u have not work for complete yr you still need to declare your income for YA2011(jan11 to dec11)
rayng18
post Feb 13 2012, 03:41 PM

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QUOTE(GloryKnight @ Feb 13 2012, 03:33 PM)
oh ok. thx!! but shyt...now is already feb, will i get penalty if i declare now? altho my income is not taxable yet.
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no worries income tax return is due on 30/4/12 still got time to do
rayng18
post Feb 13 2012, 08:47 PM

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QUOTE(munkeyflo @ Feb 13 2012, 05:19 PM)
Does anyone remember/know when does e-filing opens up for the current year?

Especially for form Borang E (non-individual) which is due end of march.

If not then I'll have to go LHDN to submit. aihh.  yawn.gif
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will open in march and due end of april not march
rayng18
post Feb 19 2012, 07:31 PM

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QUOTE(tylerf @ Feb 19 2012, 06:29 PM)
Anyone done e-filing before?

This is my 1st time.
I'm wondering why the login button is greyed out.

How to do taxes if like that?

user posted image
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Its because it is not open yet, only can login on 1 March 2012
rayng18
post Feb 21 2012, 04:15 PM

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QUOTE(terrance511 @ Feb 21 2012, 03:46 PM)
hi guys, im newbie in all these tax thing, can u guys help me with some question?

I do a freelance online job, salary not fix, last month 1.5k, this month 2.6k
i transfer my money from my account on freelance market site to my paypal, then from paypal to my bank.

so my question is, do i need to do anything? since it's over 2.5k this month, and how does it work, if i only transfer 2.4k to bank instead of 2.6, will i stil have to pay tax? Do i need to do anything right now? like delacre ? file anything ?
Thanks a lot.
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Need to open an income tax file first, any supporting when you are paid?
Just accumulate the whole of 2011 income for declaration, compute then see if taxable or not, if taxable then pay tax by banking into IRB bank given. If not taxable just submit only
rayng18
post Feb 21 2012, 04:35 PM

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QUOTE(terrance511 @ Feb 21 2012, 04:29 PM)
supporting u mean document? no any file can show my payment from freelance job la..
conclusion i need to file something, and the tax is base on anuum 1 ? 30k ?
i start earning since last year october 2011, when do i need to do all these.
thanks a lot smile.gif
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maybe you can print out the remitance advice when you recieve your pay. since you only started in oct 2011 so you need to compute from oct 11 to dec 11.

First and foremost you need to go to IRB to get your file open then only you can declare your income for income tax. you only need to do once a year so all income will be accumulated for the calender year.
You can go to any of the IRB office anytime now to get the file open
rayng18
post Feb 21 2012, 06:56 PM

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QUOTE(terrance511 @ Feb 21 2012, 04:47 PM)
erm, don't have remitance advice..  its a micro job thing, less than Rm20 per task ... really don't have statement at all ... when transfer money to my paypal, only got 1 confirmation email... How?
thanks again
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then keep your emails that indicate yr income in case IRB wants to look for proof of income
rayng18
post Feb 21 2012, 07:39 PM

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QUOTE(terrance511 @ Feb 21 2012, 07:15 PM)
ok thanks,

my friend say can ignore bout that 2011 3 months 1 since it only average 1.2k, then i just have to wait till 2013 before march then submit 2012 income info. Is that ok ?
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yes. but in the meantime just get your income tax file opened
rayng18
post Feb 21 2012, 08:31 PM

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QUOTE(terrance511 @ Feb 21 2012, 07:53 PM)
can i just wait till 2013 then sekaligus done all that ? haha
thanks a lot really
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Yes you can but why wait till last minute when you can do it now and familiarise yourself on how to compute your tax
rayng18
post Feb 26 2012, 08:26 PM

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QUOTE(evo.com @ Feb 26 2012, 05:19 PM)
Can someone explain to me how does the rm6000 tax relief for EPF works?
I pay rm7500 in tax a year, do I get to deduct 15% (or whatever tax bracket i'm in) from the rm10k a year EPF that I pay?
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Although your EPF contribution is more than 10K pa your income deductible relief is limited to RM6K only.
Let say your total income is RM100K you will deduct all income deductible reliefs to derive your taxable income then you find the tax band for your taxable income to derive your tax to be paid for the year then less any tax already paid through your monthly deductions and all your tax deductible reliefs to finally come to the amount of tax payable/overpaid tax
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