QUOTE(supersound @ Dec 31 2014, 07:36 PM)
Typo due typed too fast. Corrected!Income Tax Issues v3, Anything related to Personal Income Tax
Income Tax Issues v3, Anything related to Personal Income Tax
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Dec 31 2014, 07:59 PM
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All Stars
52,874 posts Joined: Jan 2003 |
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Dec 31 2014, 08:00 PM
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11,554 posts Joined: Aug 2009 |
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Dec 31 2014, 08:56 PM
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Dec 31 2014, 09:32 PM
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QUOTE( Nope, you can only submit it after 1st of March.So, is good you get all documents prepared and submit it ASAP, you just need to print the BE slip and done. Actually you only need your EA form, can be used for applying loan. |
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Jan 1 2015, 06:46 AM
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52,874 posts Joined: Jan 2003 |
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Jan 1 2015, 12:47 PM
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On medical expenses for parents, i got the quote from ACCA site. How about having the sharing with my spouse to reduce the household tax? Is that ok to do? Or only legal for the next kin to claim the RM5000 column? We paid ~RM30k for the medical expenses while I am the only child in family.
"Example 1 Mr Campbell, a father of 12 children, undergoes a major operation costing RM60,000 and the medical bill is paid by his eldest son. Here the son can only claim a maximum of RM5,000. However, if the 12 children paid the medical bill and receipts are issued accordingly, they can all claim RM5,000 each and obtain relief for the full medical cost." |
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Jan 1 2015, 01:28 PM
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52,874 posts Joined: Jan 2003 |
QUOTE(Pken @ Jan 1 2015, 12:47 PM) On medical expenses for parents, i got the quote from ACCA site. How about having the sharing with my spouse to reduce the household tax? Is that ok to do? Or only legal for the next kin to claim the RM5000 column? We paid ~RM30k for the medical expenses while I am the only child in family. If I'm not mistaken, it must have direct relationship."Example 1 Mr Campbell, a father of 12 children, undergoes a major operation costing RM60,000 and the medical bill is paid by his eldest son. Here the son can only claim a maximum of RM5,000. However, if the 12 children paid the medical bill and receipts are issued accordingly, they can all claim RM5,000 each and obtain relief for the full medical cost." Similarly, you can't claim medical expenses of your in-laws even though you did contribute for it. Just my two cents. |
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Jan 1 2015, 03:45 PM
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QUOTE(supersound @ Dec 31 2014, 09:32 PM) Nope, you can only submit it after 1st of March. So, is good you get all documents prepared and submit it ASAP, you just need to print the BE slip and done. Actually you only need your EA form, can be used for applying loan. QUOTE(David83 @ Jan 1 2015, 06:46 AM) Any particular reason why last year BE form cannot be used? not BE form, its business one for B form. 2013 earning not sufficient to cover loan Even EA form/statement won't be ready till next month. |
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Jan 1 2015, 03:48 PM
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QUOTE(David83 @ Jan 1 2015, 01:28 PM) If I'm not mistaken, it must have direct relationship. I believe that's the case too. It just suddenly come to my thought if I can split the bill for 2.Similarly, you can't claim medical expenses of your in-laws even though you did contribute for it. Just my two cents. Malaysia is a heavily taxed country. Car tax, sale tax, oil tax, luxurious jewelry tax, and 26% income tax. Next year individual income tax is coming down by 1-3%, but wil be paying GST tax. Ohh gosh, where does all the taxpayer money goes, hope to see some improvement in schooling quality, public transport and infrastructures. My place does not even have a proper public buses nor any LRT |
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Jan 1 2015, 03:54 PM
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11,554 posts Joined: Aug 2009 |
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Jan 5 2015, 02:09 PM
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I'm a sole proprietor and yearly submitting form B.
Now thinking of hiring people. I understand need to register with EPF and Socso when I start to hire people. I was wondering if I also need to register with LHDN as they will be below the salary to pay income tax? |
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Jan 7 2015, 10:39 PM
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397 posts Joined: Oct 2007 From: broken heart land, single forever~ |
donation to hospital /bomba event/function got tax rebate?
internet reduction is no more right? This post has been edited by stupiak07: Jan 7 2015, 10:51 PM |
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Jan 7 2015, 11:02 PM
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48,568 posts Joined: Sep 2014 From: REality |
QUOTE(stupiak07 @ Jan 7 2015, 10:39 PM) check at the link http://www.hasil.gov.my/goindex.php?kump=2...1&unit=8&sequ=1 |
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Jan 9 2015, 04:37 PM
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640 posts Joined: Nov 2012 |
hey guys i registered for e hasil but because of my computer messed up i failed to record the no permohonan, so now i cant request the PIN. what should i do? tried calling 1-800-88-5436 but no one answer.
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Jan 10 2015, 04:16 PM
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QUOTE(Ned_Fromthenorth @ Jan 9 2015, 04:37 PM) hey guys i registered for e hasil but because of my computer messed up i failed to record the no permohonan, so now i cant request the PIN. what should i do? tried calling 1-800-88-5436 but no one answer. You may try to call 03-7713 6655 or you can try to go http://maklumbalas.hasil.gov.my/ for getting your pin. |
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Jan 10 2015, 04:47 PM
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QUOTE(renee78 @ Jan 5 2015, 02:09 PM) I'm a sole proprietor and yearly submitting form B. If below the threshold to pay the income tax, you may register it later with LHDN.Now thinking of hiring people. I understand need to register with EPF and Socso when I start to hire people. I was wondering if I also need to register with LHDN as they will be below the salary to pay income tax? |
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Jan 11 2015, 05:36 PM
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20 posts Joined: Apr 2010 |
Hey guys, I need some advice. I just graduated n started to work. I planned to buy a property using money inherited from my grandparents.
Will I get troubles? Because the property is more than my current salary able to afford if without the money inherited. How do I proved that my money is inhereted? Because when my grandparent go to a better place, the money is cash.. (u know old people dun trust the bank).. not from bank account.. so cannot track? Thanks in advances. |
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Jan 12 2015, 09:05 PM
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1,861 posts Joined: Dec 2008 From: In The HELL FIRE |
Hallo guys, i Started working on last year August.
my annual income should from which month to? it is individual tax. something i don't understand. Self and Dependent - RM 9,000 ; confirm Rm9,000 deduction or have calculation ? Life insurance and EPF - RM 6,000 ; deduction is as per receipt or any package or amount you still get RM3,000 relief ? what if i bought Life+Health single package Insurance premium for education or medical benefit - RM 3,000 ; deduction is as per receipt or any package or amount you still get RM3,000 relief ? Purchase of books, journals, magazines and publications - RM 1,000 ; Recently bought a 3 years subscription RM 1,800 ; how to fill this ? RM 900 + RM 900 as told by the salesman? Complete medical examination - RM500 ; also as per receipt ? This post has been edited by Pain4UrsinZ: Jan 12 2015, 09:20 PM |
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Jan 12 2015, 10:44 PM
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52,874 posts Joined: Jan 2003 |
QUOTE(Pain4UrsinZ @ Jan 12 2015, 09:05 PM) Hallo guys, i Started working on last year August. my annual income should from which month to? my annual income should from which month to? it is individual tax. something i don't understand. Self and Dependent - RM 9,000 ; confirm Rm9,000 deduction or have calculation ? Life insurance and EPF - RM 6,000 ; deduction is as per receipt or any package or amount you still get RM3,000 relief ? what if i bought Life+Health single package Insurance premium for education or medical benefit - RM 3,000 ; deduction is as per receipt or any package or amount you still get RM3,000 relief ? Purchase of books, journals, magazines and publications - RM 1,000 ; Recently bought a 3 years subscription RM 1,800 ; how to fill this ? RM 900 + RM 900 as told by the salesman? Complete medical examination - RM500 ; also as per receipt ? Full calendar year: January 2014 to December 2014 for YA 2014 Self and Dependent - RM 9,000 ; confirm Rm9,000 deduction or have calculation ? Fixed in the e-BE. Life insurance and EPF - RM 6,000 ; deduction is as per receipt or any package or amount you still get RM3,000 relief ? what if i bought Life+Health single package Refer to your annual statement from your insurance provider. It will state how many percentage goes to Life and how many percentage goes to Medical. You claim based on the proportion in the allotted annual premium. Insurance premium for education or medical benefit - RM 3,000 ; deduction is as per receipt or any package or amount you still get RM3,000 relief ? Similar to above in Life insurance and EPF. Refer to your annual statement from your insurance provider Purchase of books, journals, magazines and publications - RM 1,000 ; Recently bought a 3 years subscription RM 1,800 ; how to fill this ? RM 900 + RM 900 as told by the salesman? As long as you have the receipt of proof for justification. You can average it as per salesman. You need to keep this particular receipt for 7 years from the most recent you submitted for relief. For instance, date of receipt in 2014 but submitted for YA 2014, YA 2015 and YA 2016. You need to keep this receipt from 2017 + 7 years == 2024 Complete medical examination - RM500 ; also as per receipt ? Yes. You need receipt to claim. Receipt must be under your name. |
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Jan 13 2015, 12:11 AM
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1,861 posts Joined: Dec 2008 From: In The HELL FIRE |
so if from government sector, start working from august monthly Rm5,000
YA 2014 income is RM25,000 no need to pay any tax ? or it will carry forward to YA 2015? |
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