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Income Tax Issues v3, Anything related to Personal Income Tax
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klthor
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 Oct 2 2014, 11:00 AM
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QUOTE(Jasonneo @ Oct 1 2014, 04:05 PM) Just an update to those who received past year undeclared taxes: I've received the letter from LHDN and the letter basically outlines the BE form that I've submitted earlier. BUT the thing is, they purposely miss out the PCB deduction resulting in a higher amount of tax to be paid =.="" I went to the office in Jalan Duta again yesterday and checked with one of the LHDN staff and she told me that the PCB is never shown in the letter but she checked the system which thankfully has the PCB deduction. What you need to do is just ask for an overall statement and in the statement, it will outline how much you are suppose to pay or get back which included the late year BE submission. Then just go to the counter below and pay it off. I manage to save like 1.2k after everything. A hassle but it is worth it. Phew* register an e-filing account. u can view ur statement online too, as well a s ur RPGT. im still waiting for my rpgt refund. |
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ngaisteve1
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Oct 2 2014, 12:04 PM
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Say for example, I study Diploma for RM 6300 fee. Can it be used to deduct income tax?
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stoppy
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Oct 7 2014, 10:05 PM
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New Member
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Hi, currently i'm working oversea, but i own properties which rented out. Can these expanses (ie, assessment and quit rent, interest on loan and fire insurance premium, expenses on rent collection, expenses on rent renewal, expenses on repair and service charges, etc) allow deduction from rental income?
Thanks
This post has been edited by stoppy: Oct 7 2014, 10:06 PM
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Jasonneo
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Oct 9 2014, 10:11 AM
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Getting Started
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QUOTE(ngaisteve1 @ Oct 2 2014, 12:04 PM) Say for example, I study Diploma for RM 6300 fee. Can it be used to deduct income tax? If you're working then I think you may deduct the fee from income tax. There is an option call "yuran pendidikan" and your course have to be under the category listed by them. I am not 100% sure though coz I never declare that option before. |
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ngaisteve1
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Oct 9 2014, 10:41 AM
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QUOTE(Jasonneo @ Oct 9 2014, 11:11 AM) If you're working then I think you may deduct the fee from income tax. There is an option call "yuran pendidikan" and your course have to be under the category listed by them. I am not 100% sure though coz I never declare that option before. okay thanks. I notice that also. Just to double confirm.  |
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ShadowR1
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Oct 9 2014, 06:54 PM
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Guys, what is the difference between borang JA and borang J ?
I receive a borang JA for year 2011 and a borang J for year 2012.
The thing is, borang J 2012 taxable amount is different from the online calculation during my submission.
Shall I just let it be or have to pay LHDN a visit.
Thanks.
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PJusa
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Oct 10 2014, 09:14 AM
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quick question regarding PTPTN savings:
for the 6k tax deductable do i also factor in interest paid for 2014, i.e. deposit only 6,000 RM less interest (i.e. 600 RM) = 5,400 RM or can I only deduct 5,400 RM then from my taxes and the interest is not considered?
thanks!
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giko
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Oct 10 2014, 09:24 AM
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QUOTE(PJusa @ Oct 10 2014, 09:14 AM) quick question regarding PTPTN savings:
for the 6k tax deductable do i also factor in interest paid for 2014, i.e. deposit only 6,000 RM less interest (i.e. 600 RM) = 5,400 RM or can I only deduct 5,400 RM then from my taxes and the interest is not considered? it should be RM6k + interest (last year 4.25%) BUT the max can claim is RM6K (from YA2012 till YA2017)! sources = http://www.hasil.gov.my/goindex.php?kump=5...3&unit=1&sequ=1http://www.ptptn.gov.my/web/guest/simpanan/cukaiThis post has been edited by giko: Oct 10 2014, 09:26 AM |
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PJusa
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Oct 10 2014, 01:40 PM
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from the pptpm link if you look at Q14 it says no additional deposit no tax deduction right? that's why i am asking. nowhere does it mention the dividend. the last years i always deposit the max. tax deductable amount so i cam getting quite a bit of interest by now (almost 1k for this year). so i am unsure if i can simply deposit 5,xxx and claim 6,000 due to interest pushing the total placement in excess of 6,000 RM or if i need to place 6,000 myself for 6k deduction. shall call hasil or ptptn to clarify.
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stoppy
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Oct 10 2014, 05:02 PM
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New Member
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QUOTE(stoppy @ Oct 7 2014, 10:05 PM) Hi, currently i'm working oversea, but i own properties which rented out. Can these expanses (ie, assessment and quit rent, interest on loan and fire insurance premium, expenses on rent collection, expenses on rent renewal, expenses on repair and service charges, etc) allow deduction from rental income? Thanks Anyone can help me on this? Thanks |
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DM3
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Oct 10 2014, 06:36 PM
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so now highest tax would be 24%  overall reduced 1-3% |
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Soulsareworthless
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Oct 10 2014, 07:16 PM
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Does it apply to this year's tax?
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DM3
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Oct 10 2014, 09:08 PM
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QUOTE(Soulsareworthless @ Oct 10 2014, 07:16 PM) Does it apply to this year's tax? yala of course |
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DM3
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Oct 10 2014, 09:08 PM
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double post
This post has been edited by DM3: Oct 10 2014, 09:08 PM
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wil-i-am
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Oct 10 2014, 11:01 PM
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QUOTE(Soulsareworthless @ Oct 10 2014, 07:16 PM) Does it apply to this year's tax? Nope |
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birdman13200
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Oct 11 2014, 04:00 PM
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QUOTE(Soulsareworthless @ Oct 10 2014, 07:16 PM) Does it apply to this year's tax? What declare in the budget now will apply for next year tax, year 2015. But u will only see it when u submit ur borang BE on year 2016 for 2015 tax. |
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lookie
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Oct 11 2014, 06:06 PM
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anyone knows where to look for the new 2015 tax schedule yet?
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SUSDavid83
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Oct 12 2014, 05:18 PM
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QUOTE(lookie @ Oct 11 2014, 06:06 PM) anyone knows where to look for the new 2015 tax schedule yet? Once the Budget 2015 is approved by the lower house and get gazetted, LHDN will update in this website. |
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SUSsupersound
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Oct 12 2014, 10:03 PM
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QUOTE(David83 @ Oct 12 2014, 05:18 PM) Once the Budget 2015 is approved by the lower house and get gazetted, LHDN will update in this website. Read on the newspaper that 24% bracket will be reduced to 21%, while first rm100-250k will be at 24%  |
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nioshen
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Oct 13 2014, 01:45 PM
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New Member
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QUOTE(DM3 @ Oct 10 2014, 06:36 PM) so now highest tax would be 24% overall reduced 1-3% I think the highest tax would be 25%, for more information you can refer to this link http://loanstreet.com.my/learning-centre/b...t-2015-reviewed |
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