If company save on EPF meaning you're getting less money.... EPF is your money, and gets higher interest than any bank account savings/FD you have.

Epf 10+%

My tax 20+%

Might as well don't want the epf

for those who likes to juggler around with allowance, it is taxable. however you can deduct those allowances with expenses, example petrol allowance month RM1k and u have your petrol receipt of 1.5k... meaning u can deduct all the rm1k out, but not tat rm500 from your income. so hope this will give a bit of light for you guys who do not understand why allowance is listed in ur EA form.

This post has been edited by klthor: Mar 27 2014, 03:08 PM

Ah, big earner and kiam siap company. My company's EPF is 17% =p and my tax not yet reach 20+.

Company save EPF and u loss EPF?

Hi All,

I have bought an insurance policy by Prudential (life + medical card) last year 2013 and a bit confused on which column should I key into. I have also invested in PruCash and as claimed by my agent it is also deductible.

May I know which is the appropriate column? Thanks.

1. Insurans nyawa dan KWSP
Life insurance and provident fund

2. Insurans pendidikan dan perubatan
Education and medical insurance

oh what i mean is company pay me 10+% on epf, but if i receive that commission, my tax bracket is 20+% already. so if they willing to pay me separately for that amount, they can save 10+% on epf, i also can save 20%+ on that amount..

Example : 10k income, company give me 1k+ epf, but n need pay tax 2k+ for that 10k. rugi

Prudential should have itemized your statement already.. It should look something like this.
You can see clearly the first amount is for insurans nyawa & kwsp, and the second amount if for your education & medical insurance..



This post has been edited by zeese: Mar 27 2014, 05:55 PM

Ok, understood now. Thanks.

I have another question that is, my policy started on Dec 2013 and I pay every 6 months. The slip for income tax shows 6 months payment.

Meaning to say, I pay for 6 months (Dec 2013 - May 2014), should I declare for only Dec 2013 or as per stated in slip 6 months?

Please advise.

IBG

Dec 2013 only.

Follow the figure from the Prudential pink slip. Don't pandai-pandai go put higher figure.

In the BE form, does one need to provide any evidence if for example you claim the max deduction of RM5k for basic supporting equipments?

Every tax relief you have to keep the evidence such as the receipt for 7 years i think.

Everything you claim for relief must have supporting documents and most of them are receipts as the proof of purchase that needs to be kept for min retention period of 7 years.

Filling up my e-BE. For unit trust (Amanahraya Trustees Berhad), do I follow Year End (Bagi tahun berakhir) or Payment Date (Tarikh bayaran)? If Year End = 2013 and Payment Date = 2014, which year's tax shall it fall under? Thanks.

If say it is for Car allowance, I can deduct the allowance with my car service receipt, right?
My question is, if i have 2 cars that i use for business purposes, can i keep the receipt of 2 cars and claim for both cars services?

Payment date

Thanks.

Kadar cukai = 25%?