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 Income Tax Issues v2

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sidanos
post Dec 4 2012, 11:00 AM

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Hi, I would like to ask for computer Tax Relief, can I buy for FY2012 and claim for tax relief for FY2013 since it stated once every 3 years?
sidanos
post Dec 12 2012, 12:37 PM

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I would like to enquire about this:

"Interest expended to finance purchase of residential property. Relief of up to RM10,000 a year for three consecutive years from the first year the interest is paid.
Subject to the following conditions:
(i) the taxpayer is a Malaysian citizen and a resident;
(ii) limited to one residential unit;
(iii) the sale and purchase agreement is signed between 10th March 2009
and 31st December 2010; and
(iv) the residential property is not rented out.
Where:
(a) 2 or more individuals are eligible to claim relief for the same property ; and
(b) total interest expended by those individuals exceeds the allowable amount for that year. Each individual is allowed an amount of relief for each year based on the following formula:

A x B
C
where;
A = total interest allowable in the relevant year;
B = total interest expended by the relevant individual in the relevant year;
C = total interest expended by all the individuals."

My S&P was signed on May 2010 but I only started paying the bank in August this year.
Do I claim for FY2012 to FY2014 because it states 3 consecutive years from the first year interest is paid?

Also can somebody please help explain to me part (b)?
I dont understand.
sidanos
post Mar 13 2013, 10:04 AM

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From: Selangor


Is football boots purchased can be used for tax relief?
I know shoes and swimming attire cannot.
sidanos
post Apr 15 2013, 02:44 PM

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QUOTE(cute_boboi @ Apr 15 2013, 12:32 PM)
Submitted on 4-4-2013. Got my refund in bank account already.  icon_rolleyes.gif  Less than 10 working days  rclxms.gif
*
How come so fast one? I submit end of March, still havent got yet.
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