Good to end the "worry" once & for all

Mind U, the last time i "chased them" for my $5K+ over payment, i kena about $14K+ overdue / miscalc for previous 3 years' tax! Contra-ed, still owe $9K+

My previous Co. pays bonus, say this year, AND stated it as bonus earned for previous year. Thus i had several years' worth of EA forms affected, accumulative LHDN did some "back pay" calc for previous years and "gave" it to me

This post has been edited by wongmunkeong: Jun 13 2011, 01:27 PM

dumbells, medicine ball - yes
protein powder - i think not - edible, NOT EQUIPMENT

er.. what the fish are U asking about "bodybuilding" activities? got such tax relief meh? one of us is very confused

Better and NOXplode into your routine drinks - helps kicks U up Dangerous handling weights when one is zombified

This post has been edited by wongmunkeong: Aug 4 2011, 01:16 PM

ahem ahem - sensitive word leh escape from being tax Sounds like evasion - which is illegal and can be jailed i think

tax optimization or minimization better word. This is a public forum - better not get into trouble with the taXMEN

Fellow forumers, heard anything about personal income tax on the FiT income?
Pretty big hit if an individual is taxed AND the donkey CAPEX cannot be depreciated.

Copied and pasted from SEDA's website (http://seda.gov.my)
27. Is income from feed-in tariffs considered taxable income?

Yes, it is taxable income and any exemptions would require a policy decision from the Government. KeTTHA will monitor the progress of renewable energy growth in the country and conduct necessary analyses before putting forth any policy recommendations on this matter.

Employee's EPF contribution + Life Insurance premium
excludes Employer's EPF contribution

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Added on January 10, 2012, 11:10 amBro - if yr statement is true, then the statement below is true?
Company A deducted PCB from yr salary but didnt pay to LHDN

If so, i think U better call LHDN and bring proof (salary slips with deduction), then get LHDN to check their system whether Company A paid LHDN the deduction yet (assuming several donkey months ago deducted from your salary slip ok?).
I think LHDN will then have a case against Company A.

Just based on past experience where chinaman company deducted from my salary but didnt pay to LHDN and EPF. Other bro & sis, please correct me if i'm in lalaland. Danke

Side note - i've also had 2 EA forms (2 companies) within 1 tax year, no issue. Just make sure the above is cleared-up, especially if Company A refuses to give U your EA form (assuming again, 2011's EA form by Feb/Mar 2012).

This post has been edited by wongmunkeong: Jan 10 2012, 11:11 AM

Yup, logged in and keyed in this morning.

By the way, it may be good to post the weird error message and how U got it (logging in "1st time log in" or .... using what browser) thus some of us techies may help ascertain what happened (eg. digicert, browser security settings - assuming U are using IE, etc.).

Bro - earn $1, pay $0.26 max for income tax (26% for any $ over $xxx,xxx taxable income), still left $0.74 wor.
With the extra $0.74 per taxable $1 AND some cash flow/budget planning, one can go very far leh.
I'd love to have the increments in salary/income any day

Bottomline (IMHO): Don't grow yr lifeSTYLE as fast as your income and U'll see some sunshine

I feel U bro - same case here
However, by about a few more years (7 to 8 for me), the sun should shine brighter (90% probable lar) heheh coz:
a. GST - a tax based on consumption, which is fairer to us savers & investors
b. Thus, personal income tax SHOULD be lower (ahem ahem)
c. Our invested assets should be reaching "critical mass" enough to grow much faster than us just putting $ from net salary & EPF into them

Sorry ar mod - a bit of diversion though still touching on income tax (and GST)

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Added on March 7, 2012, 12:13 pmIMHO,
a. Personal income tax in M'sia susah nak reduce lar - it's like PURPOSELY spending $1 to save $0.26, unless the item or services really needed/used.
Thus far, to me, only SSPN & annuities makes pure monetary sense, since my EPF bombs out life insurance already.
b. I'd think having a "side income", say an agent of something or other + rental management, would be better move since we can offset certain expenses to the generation of these income.
c. Time for a change? this year's erection

This post has been edited by wongmunkeong: Mar 7 2012, 12:15 PM

No U aren't supposed to.
U can only claim tax relief on the amount U ADDED (assuming U didn't take out) for the year.

IF U took out, the tax relief amount U can claim is as per eg.
In 2011
A. Took out $150
B. Then put in $2K
B - A = $1,850 claimable as tax relief

This post has been edited by wongmunkeong: Mar 8 2012, 01:15 PM

There's an annuities topic/thread in this "Finance, Business and Investment House" talking about Prudential's.

Personally, i've chose to do Uni.Asia's with a long time insurance & mortgage agent of mine. Attached is my own analysis of Uni.Asia's annuity based on the data & info i got from him. Thus far, he's the most honest agent i've come across (and i've come across quite a bit ) YET i still do my own due diligence - my $ mar, only i can care properly

Note:
1. Unzip to Excel
2. Of course U need Excel or the likes to open. U'll need to "Analysis Toolpak" add-in installed to see the %pa compounded as i'm using XIRR function. Please edit/change your tax rate and stuff as needed to ascertain your own possibilities.
3. I'm doing as a sub-class of my total Fixed Income % (Asset Allocation) + the bit on insurance is a bonus. Your mileage may vary.

Please do not ask me for other calculations and data for Uni.Asia - i ain't an agent & only know the data variable pertaining to my age & self .
If U wish, PM me and i can share my agent's contact - thus U can get the variables pertaining to yr age/self from him directly.

This post has been edited by wongmunkeong: Mar 10 2012, 08:14 AM


Attached File(s)
 Annuity_UniAsia.zip ( 8.83k ) Number of downloads: 27

I had the same issue 4 years ago, where excesses of my 2006 was not released, about $3K. Guess what? LHDN did a full check and calculation from day 1 of personal assessment to 2008 and said i owe them $14k instead! Woohoo...

Nah - no false declarations as far as i know. Most probably screwed up due to my ex-employer stating yearly bonus for as earned for PAST YEAR, every donkey year, complicating the calculations. eg. Year 2009 doing tax returns for Year 2008 but in EA form ada $xx,xxx for bonus earned 2007 (paid out in 2008).

Anyhow, cleared liao in that year itself and have a nice clean slate - with this, very fast (comparatively) rebate of extra paid PCB heheh

Thus far, LHDN is logical - eg. they sent me a letter asking me to pay dunno what extra every month coz i've got extra income (commissions from Public Mutual + rental) which i dont pay monthly PCB for. However, i proved to them that EVERY YEAR, i still pay too much and reclaim about $3K+/-, even when i declared all commissions and rental. They accepted and did away with the requirement for extra monthly payments.

This post has been edited by wongmunkeong: Mar 21 2012, 01:20 PM

http://www.snapfiles.com/get/pdfxchangeviewer.html
OR
http://www.bullzip.com/products/pdf/info.php
OR
Google "free pdf creator" (note both the above i havent tested before - i use NitroPDF)

Download, install and when U print - select the "PDF printer" and it'll be saved to a PDF file for future hard copy printout.
IF U have no idea how to download, install and select a printer er....

This post has been edited by wongmunkeong: Mar 25 2012, 02:21 PM

Take it from an IT guy - dont trust computers TOO much
eg.
File corruption or media kaput, future application changes does not support old file format, lost media (thumbdrive/HDD/DVD), etc.
I myself keep 1 hard copy + 1 softcopy + backup in HDD, thumb & emailed to my own GMail & Yahoo
7 years wor, dont play play

This post has been edited by wongmunkeong: Mar 25 2012, 06:57 PM

i paid one-shot but a few of my colleagues managed to nego for installment