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 Income Tax Issues v3, Anything related to Personal Income Tax

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SUSDavid83
post Jan 3 2014, 07:08 PM, updated 11y ago

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Are you subjected to income tax?
QUOTE
Individu yang mempunyai pendapatan penggajian tahunan melebihi RM25,501 (selepas potongan KWSP) perlu mendaftar fail cukai pendapatan.

Mulai Tahun 2010 individu yang mempunyai pendapatan penggajian tahunan melebihi RM26,501 (selepas potongan KWSP) perlu mendaftar fail cukai pendapatan.

Walau bagaimanapun, mulai Tahun 2013 individu yang mempunyai pendapatan penggajian tahunan melebihi RM30,667 (selepas potongan KWSP) perlu mendaftar fail cukai pendapatan.

Sekiranya pekerja layak dikenakan potongan PCB, pekerja dinasihatkan mendaftar fail cukai pendapatan terlebih dahulu sebelum potongan PCB dibuat.

URL: http://www.hasil.gov.my/goindex.php?kump=5...nit=5000&sequ=2
Next: Preparing personal income tax returns
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Important links
QUOTE
LHDN website: http://www.hasil.gov.my/
e-filing website: https://e.hasil.gov.my/
e-lejar website: http://www.hasil.gov.my/
Tax payment using credit card: http://byrhasil.hasil.gov.my/creditcard/

Sample of e-ledger:
» Click to show Spoiler - click again to hide... «
Critical shortcuts
QUOTE
More important links
QUOTE
Rental income
How to calculate for rental income: http://www.hasil.gov.my/pdf/pdfam/PR4_2011.pdf

Definition of "computer" for RM 3k relief every 3 years starting 2013:
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Previous versions
v1: http://forum.lowyat.net/topic/1840158
v2: https://forum.lowyat.net/topic/1903172

Useful documents
QUOTE
Tax for dividend and distribution
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How to apply for e-filing PIN?
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To make payment for insufficient deduction through PCB
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How to fill tax relief for insurance policy?
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Check for approved/registered institution on donation under Subseksyen 44(6) ACP 1967
URL: http://www.hasil.gov.my/goindex.php?kump=2...1&unit=8&sequ=1

This post has been edited by David83: Mar 24 2015, 01:40 PM
SUSmoko123456789
post Jan 6 2014, 05:41 PM

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im a sole proprietor can I pay my tax under personal tax ? how do u guys calculate p.a. income and deduct everthings and rebate to pay by yourself with no hire accountant do for u

conqu3ror
post Jan 7 2014, 02:45 AM

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QUOTE(moko123456789 @ Jan 6 2014, 05:41 PM)
im a sole proprietor can I pay my tax under personal tax ? how do u guys calculate p.a. income and deduct everthings and rebate to pay by yourself with no hire accountant do for u
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For personal without business income will fill in BE form. With business income then must use B form.

Just spend sometime goto near by LHDN ask for help.
They will able to offer some basic assistance.

If they ask u seek for professional assistance, then u gonna study business tax yourself or hope some Tax ppl can offer u free service.

I believe yours business is not high volume and complex. The fees should not be high.
SUSmoko123456789
post Jan 7 2014, 11:59 AM

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QUOTE(conqu3ror @ Jan 7 2014, 03:45 AM)
For personal without business income will fill in BE form. With business income then must use B form.

Just spend sometime goto near by LHDN ask for help.
They will able to offer some basic assistance.

If they ask u seek for professional assistance, then u gonna study business tax yourself or hope some Tax ppl can offer u free service.

I believe yours business is not high volume and complex. The fees should not be high.
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about how much at market price for a small small 600ft salon only ... just family business only ...
conqu3ror
post Jan 7 2014, 02:21 PM

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QUOTE(moko123456789 @ Jan 7 2014, 11:59 AM)
about how much at market price for a small small 600ft salon only ... just family business only ...
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bro, tax and accounting service not judge by the business space and type of business. It will depend how complex, turnover and the volume of the business. Even a making loss business may more expensive the profitable.

Some may charge RM500 and some maybe RM1000 just for tax submission. If no proper P/L recording, then they will need to do more job which mean higher cost.
ShadowR1
post Jan 9 2014, 09:48 PM

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I know that petrol/transport allowance is not taxable, how about standby allowance ?
SUSDavid83
post Jan 9 2014, 10:34 PM

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QUOTE(ShadowR1 @ Jan 9 2014, 09:48 PM)
I know that petrol/transport allowance is not taxable, how about standby allowance ?
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If it's classified as BIK in EA form, then it's not taxable.
penangmee
post Jan 9 2014, 11:11 PM

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QUOTE(ShadowR1 @ Jan 9 2014, 09:48 PM)
I know that petrol/transport allowance is not taxable, how about standby allowance ?
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What do you mean by standby allowance. U govt doctor?
Basically taxable
ShadowR1
post Jan 9 2014, 11:25 PM

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QUOTE(David83 @ Jan 9 2014, 10:34 PM)
If it's classified as BIK in EA form, then it's not taxable.
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Im sorry but what BIK means ?

SUSDavid83
post Jan 9 2014, 11:27 PM

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QUOTE(ShadowR1 @ Jan 9 2014, 11:25 PM)
Im sorry but what BIK means ?
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Benefit in Kind - Section G of the EA form.
ShadowR1
post Jan 9 2014, 11:45 PM

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QUOTE(David83 @ Jan 9 2014, 11:27 PM)
Benefit in Kind - Section G of the EA form.
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Thanks David, guess I have wait for my EA to be able to calculate the actual taxable amount.

QUOTE(penangmee @ Jan 9 2014, 11:11 PM)
What do you mean by standby allowance. U govt doctor?
Basically taxable
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Nope, not a Doc here. Just an x amount daily for standby eg.answer call after working hour.

This post has been edited by ShadowR1: Jan 9 2014, 11:54 PM
ronnie
post Jan 10 2014, 01:01 AM

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QUOTE(ShadowR1 @ Jan 9 2014, 11:45 PM)
Thanks David, guess I have wait for my EA to be able to calculate the actual taxable amount.
Nope, not a Doc here. Just an x amount daily for standby eg.answer call after working hour.
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That's taxable income cos it's a fixed amount based on days "on standby"
propertymart
post Jan 10 2014, 03:17 PM

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Hi All, got something to ask for suggestion, example , i set up a sole partnership company, declare 20% tax per year company tax, n i write payslip to myself(do i still need declare my individual tax?) or company itself be enough
realmcord80
post Jan 10 2014, 05:14 PM

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Just wondering, can govt. tax and sales tax that we are charged can deducted from our income tax?...
SUSDavid83
post Jan 10 2014, 05:17 PM

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QUOTE(realmcord80 @ Jan 10 2014, 05:14 PM)
Just wondering, can govt. tax and sales tax that we are charged can deducted from our income tax?...
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Personal income tax? BE category?
realmcord80
post Jan 10 2014, 05:22 PM

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QUOTE(David83 @ Jan 10 2014, 05:17 PM)
Personal income tax? BE category?
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Yes...my personal income tax. BE


cute_boboi
post Jan 10 2014, 06:28 PM

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QUOTE(propertymart @ Jan 10 2014, 03:17 PM)
Hi All, got something to ask for suggestion, example , i set up a sole partnership company, declare 20% tax per year company tax, n i write payslip to myself(do i still need declare my individual tax?) or company itself be enough
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e.g.
Company sales 100k
Company pay salary to you (ownself) 20k
Expenses, etc. 30k
Net profit 50k - have to declare and taxable.

Your salary from another permanent job - 36k

When you declare tax with sole-prop, this is the amount to declare : 50k + (36k + 20k)
Then less whatever deductible or rebate for net to pay.

Why 20k is taxable ? Cause it is consider your salary (income).

If you don't get the 20k as salary, then your company profit is 50k + 20k = 70k. No where to run.

The other method is to declare false figures, i.e. false declaration or tax fraud. Well, you know the drill, it's not legal.
Source
whistling.gif

SUSDavid83
post Jan 10 2014, 06:33 PM

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QUOTE(realmcord80 @ Jan 10 2014, 05:22 PM)
Yes...my personal income tax. BE
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Nope. Not possible.
propertymart
post Jan 10 2014, 09:50 PM

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QUOTE(cute_boboi @ Jan 10 2014, 06:28 PM)
e.g.
Company sales 100k
Company pay salary to you (ownself) 20k
Expenses, etc. 30k
Net profit 50k - have to declare and taxable.

Your salary from another permanent job - 36k

When you declare tax with sole-prop, this is the amount to declare : 50k + (36k + 20k)
Then less whatever deductible or rebate for net to pay.

Why 20k is taxable ? Cause it is consider your salary (income).

If you don't get the 20k as salary, then your company profit is 50k + 20k = 70k. No where to run.

The other method is to declare false figures, i.e. false declaration or tax fraud. Well, you know the drill, it's not legal.
Source
whistling.gif
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ok if i declare both

EPF not Compulsory gua? i self employed leh, no need so many epf
ExHellSing
post Jan 11 2014, 03:13 AM

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Can we relief tax with foreign currency receipt? Eg: USD
And how to fill in the amount?


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