No carrying forward.

YA 2014: January 2014 to December 2014
YA 2015: January 2015 to December 2015

Do note that even though your annual income may not reach the taxable level but you still need to file it. Filing and paying income tax are two separate matters.

Any sole proprietor here who are familiar with Borang B?

If I have just recently purchased a computer solely for my trading use (my business), where should I fill the amount under the form? Under Kos Perniagaan -> Lain-lain or Elaun Modal, where I can only claim bit by bit yearly in the stated percentages??

Thanks

I just realize if your EPF yearly contribution is equal or more than 6,000 ... no more further reduction even u buy a life insurance, is that true ?

YES.

Looking for personal tax info and help.

What are the usual charges for a consultant's help?

I receive income from two countries not MY, stay less than 180 days in MY and absent in year end or start (NR).
1. Consultancy fees from SG company for work in ID
2. Monthly salary from ID company for work in ID

Mother ask me fast fast declare income before GST so can buy property wor. I don't really care about buying or not, but just want to declare my income.

Since income not derived from Malaysia, I'm basically not taxable right? Please shed some light thank you.

Not taxable, but I don't know (please get verification) whether you even need to declare. Declare to whom? I don't remember there being any place to declare income from not in Malaysia, but perhaps one of the other (not BE) forms got.

I also scratch head leh, people keep telling me need to declare, but when ask how all don't wanna talk more cause very sensitive. Like scare I will rob them if I know their income like that. Just keep telling me go IRB. If I so free go IRB then I resident status already la.

1. This is the first time you receive income from the mentioned two countries?
2. All the while you submit your return in which country?

1. Yesh
2. Never really submitted anything until recently. Currently pay tax to Indonesia for income 2.

1. Consultancy fees from SG company for work in ID
This also should be reported to indonesia tax authority.

Assuming that you made RM38,202.25 in 2015...

Chargeable Income

Your Chargeable Income = Your taxable income - (Standard RM9,000 individual tax relief + 11% EPF Contribution of your salary)

which means

Your Chargeable Income = RM38,202.25 - (RM9,000 + RM4,202.25) = RM25,000

Based on the tax rate table above, RM25,000 would be taxed RM150 on the first RM20,000 and RM250 on the remaining RM5,000 at rate of 5% which brings it up to about RM400 in tax.

RM400 Rebate

After taking into account the RM400 rebate for those with a chargeable income of RM35,000 or less, you'll be paying

RM400 - RM400 = RM0 (no tax de o)




As refer to http://savemoney.my/personal-income-tax-malaysia-2014#mintax

so for those below RM38, not even need to file for income tax?

Published in April 30, 2014...
If an individual earns an annual employment income of RM26,501 (after EPF deduction), he would have to register a file.

Registration for an income tax reference number can be made at any IRB branch or you can enquire at the Customer Service Centre at 1800-88-5436. A penalty equal to three times the amount of the tax (which is before any set-off, repayment or relief under the Income Tax Act) is payable if a person defaults in furnishing a tax return.
http://www.thestar.com.my/News/Nation/2014...ur-tax-returns/

hope that answered you question

Registration for an income tax reference number can be made via online at IRB website. http://edaftar.hasil.gov.my/dafsgjpn.php

If a person is in a training contract for 1 year, does he need to pay tax?

Also, the 30k min requirement is gross salary or after minusing rebates/deductables? If one is below 30k, he should register with LHDN too or wait until increase in salary?

Last question, when do you need to pay tax? Before what date, is it for one year straight?

Sorry for the simple questions, new guy in the working world here!

i need a talk to a tax consultant can pm me tq

Your income is rm10000 or rm100000, you still need to register an account. This is to prevent you from getting queried when you need to take a loan.

Self Assessment for individuals will begin in Year 2004. The implementation of Self Assessment is based on the concept of “Pay, Self-Assess and File”. Under the Self Assessment System, taxpayers are entrusted with the responsibilities to assess and pay their taxes due to the Government. It is an act that should be carried out voluntarily by everyone who is liable to tax. Nevertheless, the Inland Revenue Board (IRB) will carry out audits on a selective basis to verify the information provided by taxpayers.

You need to pay if you are start to liable to tax which is above the min requirement.

The due date for submission of Form BE for Year of Assessment 2014 is 30 April 2015. The grace period for e-Filing of Form BE (e-BE) for Year of Assessment 2014 is given until 15 May 2015.

Thanks both of you.

Real estate agent need to request EA form from employer? Income based on commission , sometimes no income for the month, and employer need to deduct PCB for real estate agent?