Income Tax Issues v3, Anything related to Personal Income Tax
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 Feb 6 2014, 09:24 PM
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All Stars
52,874 posts Joined: Jan 2003 
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QUOTE(penangmee @ Feb 6 2014, 08:23 PM) BIK is NOT the same as allowance. Monthly bills paid by employer is considered BIK. Allowances are monies (cash) paid to you, it can be used for any reason-pay bills, buy char koay teow etc . To emphasis again Telefon/transport allowances are forms of cash allowances Fixed allowance in the form of cash should be considered as part of income and hence, it's taxable.  Fixed allowance such as OT allowance, shift allowance, off site allowance and etc. |
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Feb 11 2014, 10:19 AM
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Senior Member
1,055 posts Joined: Jan 2003 From: Kajang | Cyberjaya 
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Feb 12 2014, 08:52 PM
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Junior Member
57 posts Joined: Jul 2005 
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QUOTE(samantha_yeanmee @ Feb 3 2014, 07:20 PM) Hi all, Hi Sifus,I am currently doing some consultation work and receive income from a Singapore company (I am based in Malaysia). My question is, can I claim the Capital Allowance for my "business income" although I did not set up a company? What are others deductible expenses? e.g. rental, petrol, internet, utilities, car insurance & road tax, car repair? Many thanks for your help  All thoughts to share?  |
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Feb 13 2014, 07:58 AM
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All Stars
21,311 posts Joined: Jan 2003 From: Kuala Lumpur 
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These few days the Borang TP1 has been in limelight... Ensure you get your HR to process the TP1 as soon as possible, in order not to "overpay" your Monthly Tax Deduction (MTD/PCB)
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Feb 14 2014, 10:17 AM
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Senior Member
1,055 posts Joined: Jan 2003 From: Kajang | Cyberjaya
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QUOTE(samantha_yeanmee @ Feb 12 2014, 08:52 PM) Hi Sifus, it's better you set up a sole proprietorship, than maintain a proper accounting records. Then you can claim on any expenses related to discharging your consultation work.All thoughts to share? the terms used in Income Tax Act is "wholly and exclusively" incurred in producing the income. |
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Feb 14 2014, 12:43 PM
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Junior Member
57 posts Joined: Jul 2005
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QUOTE(nevland @ Feb 14 2014, 10:17 AM) it's better you set up a sole proprietorship, than maintain a proper accounting records. Then you can claim on any expenses related to discharging your consultation work. Thanks for guidance the terms used in Income Tax Act is "wholly and exclusively" incurred in producing the income.  |
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Feb 15 2014, 09:28 PM
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Junior Member
188 posts Joined: Nov 2008
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if claim like mileage....etc
appear in the payslip.... is it have to pay tax also? |
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Feb 16 2014, 11:24 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(jobok @ Feb 15 2014, 09:28 PM) if claim like mileage....etc Is it stated in yo EA Form?appear in the payslip.... is it have to pay tax also? |
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Feb 17 2014, 12:06 AM
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Junior Member
188 posts Joined: Nov 2008
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QUOTE(wil-i-am @ Feb 16 2014, 11:24 PM) Is it stated in yo EA Form? not sure....coz this is my 1st time at this company |
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Feb 18 2014, 12:05 AM
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All Stars
21,311 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(jobok @ Feb 15 2014, 09:28 PM) if claim like mileage....etc Mileage claims shouldn't be taxable.... if it is, you better talk to your HR Dept.appear in the payslip.... is it have to pay tax also? |
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Feb 18 2014, 12:51 PM
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Senior Member
1,104 posts Joined: Dec 2006
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e-filing for 2013 is not ready yet...
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Feb 18 2014, 03:20 PM
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Junior Member
108 posts Joined: Nov 2013
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when is the e-filing for 2013 started ?
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Feb 18 2014, 07:08 PM
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All Stars
52,874 posts Joined: Jan 2003
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1st March 2014 to 30th April 2014
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Feb 18 2014, 11:44 PM
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Senior Member
5,608 posts Joined: Jan 2010
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QUOTE(samantha_yeanmee @ Feb 14 2014, 12:43 PM) Thanks for guidance sometimes like petrol not wholly and exclusively for workcan apportion it into 1/3 for private and 2/3 for business depending on ur ratio and you must be able to prove it |
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Feb 19 2014, 08:32 AM
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Junior Member
57 posts Joined: Jul 2005
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QUOTE(tzxsean @ Feb 18 2014, 11:44 PM) sometimes like petrol not wholly and exclusively for work How to prove it? can apportion it into 1/3 for private and 2/3 for business depending on ur ratio and you must be able to prove it  |
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Feb 19 2014, 03:46 PM
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Senior Member
5,469 posts Joined: Jun 2008
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QUOTE(samantha_yeanmee @ Feb 19 2014, 08:32 AM) How to prove it? 1/3 is the norm i guess, this 1 u dun have to prove the ration. if you wanna apportion 100% to business use only, then u have to prove it. |
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Feb 19 2014, 09:01 PM
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Senior Member
5,608 posts Joined: Jan 2010
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QUOTE(samantha_yeanmee @ Feb 19 2014, 08:32 AM) How to prove it? documentation and any justification that you can makein case of audit by the IRB |
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Feb 20 2014, 07:45 AM
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Senior Member
6,265 posts Joined: Jul 2005 From: UEP Subang Jaya 
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Question - the RM5k deductible for parent's medical expenses can it be used for buying prescription medication (e.g. those for cholesterol etc)? How to prove (i.e. what evidence should I file away)?
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Feb 20 2014, 09:08 AM
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All Stars
52,874 posts Joined: Jan 2003
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QUOTE(LostAndFound @ Feb 20 2014, 07:45 AM) Question - the RM5k deductible for parent's medical expenses can it be used for buying prescription medication (e.g. those for cholesterol etc)? How to prove (i.e. what evidence should I file away)? You have to book keeping the receipts.This post has been edited by David83: Feb 20 2014, 09:08 AM |
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Feb 20 2014, 09:57 PM
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Senior Member
633 posts Joined: Jan 2006
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QUOTE(LostAndFound @ Feb 20 2014, 07:45 AM) Question - the RM5k deductible for parent's medical expenses can it be used for buying prescription medication (e.g. those for cholesterol etc)? How to prove (i.e. what evidence should I file away)? Receipts & doctor's precription |
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