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 Tax deductions for Sole Proprietor

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edwardc
post Mar 17 2014, 08:55 PM

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Hey guys,

Need advice regarding my situation.

I registered the company on Feb 2013, company starts to have income on July.

1) Let's say,

Sales : Up to 35k
Expense(not including salary) : 16k

Now the problem is, I have been giving myself salary RM5k a month, and all my company expense I use the CASH/CC from my salary, I do keep the receipt but never claim back from my company.

So my company current account the only cheque i issue is for my monthly salary.

How ah?

2) So the above I submit Form B, how bout my monthly "salary" to myself, still need to pay tax for personal income ah?

Tqtq
edwardc
post Mar 20 2014, 08:48 AM

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Anyone? haha
edwardc
post Apr 11 2014, 11:15 PM

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QUOTE(Moon Sun Lake @ Apr 11 2014, 03:37 PM)
You need to list down your expenses and claim from company.
If only salary, you may pay high tax and sole proprietor, salary may add back for tax calculation.
*
Hey thanks for the reply man.

So the 5k per month now I'll just make it as Claim + Salary. smile.gif

Yeap.

 

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