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Income Tax Issues v3, Anything related to Personal Income Tax
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iamkid
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 Feb 5 2014, 05:10 PM
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Hi, can some sifu here explain to me what is the meaning for the answers? Thanks in advance
Question:- Do I need to declare profit from buying and selling shares as an income?
Answer:-
Whether the profit from buying and selling of shares is regarded as a taxable income would depend on the facts and circumstances of the case. If the transaction can be demonstrated as a realisation of a capital investment, it can then be regarded as a capital gain not subject to income tax. On the other hand, if the transaction is derived from an adventure in the nature of a trade, then the profit from buying and selling of shares would then be seen as a revenue gain subject to income tax.
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iamkid
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Feb 6 2014, 03:00 PM
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QUOTE(seriousbuyer @ Feb 6 2014, 12:22 PM) I think what it means is that if your business is a share trading business whereby the proceeds are the main source of income to your business, then proceeds from sale of shares will be subject to income tax. However, if you are just buying and selling shares as personal investment, then proceeds from sale will be regarded as capital gain and not subject to income tax. QUOTE(KOHTT @ Feb 6 2014, 01:00 PM) The question of whether gains from the realisation of shares are revenue (taxable) or capital gains (non taxable)will depend on the facts of each case. Generally, the following factors will be considered: a) the intention or motive of the seller b) the period of ownership c) the frequency of transactions d) the method of financing Thank you! So, if I buy/sell share for personal investment, dont need to tax. If got profit, no need to declare in the taxation form also huh? |
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iamkid
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Sep 4 2014, 03:01 PM
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Hi, I want to ask some questions.
if I want to submit taxation for previous years like 3-5 years ago, how can I do it?
Print out the form from lhdn to fill up and submit?
Will get penalty if submit now?
How much does it usually cost to hire a tax agent?
Thanks a lot!!!
This post has been edited by iamkid: Sep 4 2014, 03:03 PM
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iamkid
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Jan 31 2015, 12:52 AM
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Hi, I would like to ask about the LHDN bayaran ansuran cukai (the one that pay income tax for next year, a few months pay once) In 2012, we got this ansuran thingy and pay accordingly for 2013. In 2013, the taxable amount lesser than ansuran paid. Till now 2015 also haven get the balance back. What can do? Can minus the balance from the 2014 year (going to start do soon)'s tax? Eg in 2014 need to pay Rm100, LHDN owe us RM60. Then we pay RM40 only now Boleh? Thanks in advance!  |
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iamkid
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Apr 6 2015, 02:50 PM
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QUOTE(dradormien @ Apr 5 2015, 07:06 PM) Need advice from expert. Currently i open up business and i considering myself as workers for my company, and I pay EPF monthly. should i fill form B or BE? Thanks other q: as co owner of partnership company, do you think i need to pay EPF? use borang b. employee no need pay epf (for urself) but you can voluntarily pay (if you want rebates) |
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iamkid
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Apr 6 2015, 02:52 PM
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QUOTE(LaiN87 @ Apr 5 2015, 01:52 PM) Wait... Byr hasil is down with the "FPX error". How am I supposed to pay my taxes with credit card? Wanna claim some cashback. just submit today and ended in Sistem Bayaran Kad Kredit sedang dalam penyelenggaraan. Kami memohon maaf atas kesulitan yang timbul. Credit Card Payment System is in maintenance. We apologize for any inconvenience caused. pay tax also can get cash back? $$$ |
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