Income Tax on Foreign Salary Income?, Work in Home in Malaysia.
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 Nov 9 2021, 03:32 PM
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#1
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Senior Member
1,210 posts Joined: Nov 2011 
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Ramjade, share your crystal ball with me next time... 🤣
https://www.straitstimes.com/singapore/tran...vel-from-nov-29 This post has been edited by Hoshiyuu: Nov 9 2021, 03:32 PM |
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Nov 9 2021, 04:30 PM
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#2
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Senior Member
1,210 posts Joined: Nov 2011
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QUOTE(Ramjade @ Nov 6 2021, 09:51 PM) ... This card lets you spend like a local. Which means if you have USD in your bank account, it will automatically use the USD account first before they use the SGD part. No additional charged. Alternative use Bigpay. ... By the way, I've been wanting to ask in the other thread too - but when you say "use Bigpay" you mean Malaysian Bigpay account, reloaded via SG/Multicurrency Debit card, then with BigPay holding MYR, spend globally? I feel like I am missing something when you have mentioned twice that BigPay is the key to spending foreign income internationally, Sorry if I terribly misquoted the information. |
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Nov 9 2021, 04:41 PM
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#3
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Senior Member
1,210 posts Joined: Nov 2011
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QUOTE(Ramjade @ Nov 9 2021, 04:33 PM) Malaysian bigpay reloaded with RM and spend overseas. No way you can get SG bigpay. Another alternative is wait for youtrip and mymy to start operating maybe next year. I hear dit can be used to store foreign currency. But how, not sure yet. Thanks man. And yeah, hoping we can get some BNM approval on fintech that allows storing and spending foreign currency directly.... or foreign fintech that allow direct Malaysian registration   |
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Nov 24 2021, 09:00 AM
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#4
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1,210 posts Joined: Nov 2011
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Out of curiosity, is there some way this can affect foreign asset-backed loan remitted back to Malaysia? Will it be like capital gains, where if I kept the papers to prove that this remittance is not income, the worse that could happen is just an audit session?
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Nov 24 2021, 12:46 PM
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#5
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1,210 posts Joined: Nov 2011
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QUOTE(TOS @ Nov 24 2021, 09:33 AM) Interest from loans will also be taxed, if I understand correctly, as it is income in nature. Ah, I mean if I take a loan ( I am borrowing money) and remitting back to Malaysia, I am not the one lending out. TOS liked this post
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Nov 24 2021, 03:37 PM
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#6
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Senior Member
1,210 posts Joined: Nov 2011
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QUOTE(dwRK @ Nov 24 2021, 02:22 PM) very good... no more foreign sourced income...now very much like money laundering... Was thinking the tax implications if I perform a margin loan backed by securities on foreign brokerage. If I pay the loan back with my salary, then it's already taxed locally normally. If my securities price go up, then sold to pay back the loan, then does my initial loan remitted back to Malaysia becomes realized capital gains instead? joking ah... obviously you got paperwork where money comes to buy house... but money still need to flow back out wor to service loan... nett zero Feels like a mess and open for interpretion and potentially incredible harmful to the honest tax payer... wongmunkeong liked this post
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