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 Donating for tax relief, possible??

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SUSOptiplex330
post Jun 25 2015, 02:14 PM

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QUOTE(ccheng0085 @ Jun 25 2015, 10:07 AM)
I got some non-moving old stocks in my shop which the condition is still good, would like to donate it to the charity (which is eligible for tax relief).
I've read through LHDN website and found this

-      Act 44 (9) There shall be deducted pursuant to this subsection
from the aggregate income of a relevant person who is an
individual for the relevant year reduced by any deduction for
that year in accordance with subsection (1) an amount equal to
any gift of money or contribution in kind ( the value to be
determined by the relevant local authority ) made by him in the
basis year for that year for provision of facilities in public
places for the benefit of disabled persons.

Does it means with donating RM10000 worth of stocks , I can get tax relief of 10k?

Please advise. Thanks..
If not possible to get tax relief, does it benefits my account in anyway? The stocks are place consuming and outdated, no point giving FOC to customer because I think they won't appreciate it. To the poor it might just be good enough.
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Are you GST registered? If yes, does the RM 500 gift rule applies?

SUSOptiplex330
post Jun 25 2015, 04:41 PM

10k Club
********
Senior Member
12,696 posts

Joined: Aug 2008
QUOTE(klthor @ Jun 25 2015, 02:57 PM)
dun talk about unifi, hate it ... my new house doesnt even have phone line and my friend always tease me 'you move into forest already ar, how come no phone line? ada electric ke?' yeah big cities normally will have over supply.
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I heard someone new row of houses across the fence from TM also got no line. Hope that makes you feel a bit better.


 

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