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 Income Tax Issues v4, Scope: e-BE and eB only

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SUSDavid83
post Oct 26 2015, 02:16 PM

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QUOTE(andyfriends @ Oct 26 2015, 01:53 PM)
can i check, if for general allowance, is it taxable?
any particular act that i can refer to?
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Fixed recurring allowance is taxable.

Non-taxable or tax-exempt allowance will be put under BIK section (Section G) of EA form.

This post has been edited by David83: Oct 26 2015, 11:29 PM
elv2k
post Oct 26 2015, 08:41 PM

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Can I claim relief if I buy glasses for parent? Especially if the glasses are those expensive bifocals/ progressive lenses?
SUSDavid83
post Oct 26 2015, 08:48 PM

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QUOTE(elv2k @ Oct 26 2015, 08:41 PM)
Can I claim relief if I buy glasses for parent? Especially if the glasses are those expensive bifocals/ progressive lenses?
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Does it prescribe by the doctor? I doubt glasses are considered medical expenses for parents.
andyfriends
post Oct 26 2015, 11:19 PM

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QUOTE(David83 @ Oct 26 2015, 02:16 PM)
Fixed recurring allowance is taxable.

Non-taxable or tax-exempt allowance will be put under BIK section of EA form.
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what are the categories of fixed recurring allowance n Non-taxable or tax-exempt allowance ?

where can i read up?


SUSDavid83
post Oct 26 2015, 11:28 PM

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QUOTE(andyfriends @ Oct 26 2015, 11:19 PM)
what are the categories of fixed recurring allowance n Non-taxable or tax-exempt allowance ?

where can i read up?
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Try this link: http://www.millionsystem.com.my/article.php?id=38
andyfriends
post Oct 26 2015, 11:31 PM

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QUOTE(David83 @ Oct 26 2015, 11:28 PM)
need to keep receipt or as long as the allowances are kept within that range then is fine?

any source in case nd to argue with irb
SUSDavid83
post Oct 26 2015, 11:35 PM

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QUOTE(andyfriends @ Oct 26 2015, 11:31 PM)
need to keep receipt or as long as the allowances  are kept within that range then is fine?

any source in case nd to argue with irb
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If it's tax exempt, no need to keep the receipts as I believe you'll be submitting the original receipts to your HR for claim or reimbursement.

Your HR is responsible to put that amount into Section G.

If taxable, then no need to keep since it already incurs tax.

This post has been edited by David83: Oct 26 2015, 11:36 PM
andyfriends
post Oct 26 2015, 11:38 PM

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QUOTE(David83 @ Oct 26 2015, 11:35 PM)
If it's tax exempt, no need to keep the receipts as I believe you'll be submitting the original receipts to your HR for claim or reimbursement.

Your HR is responsible to put that amount into Section G.

If taxable, then no need to keep since it already incurs tax.
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what about general allowance?under which category?
my fren co has general allowance max 6k even no rec also can claim..
SUSDavid83
post Oct 26 2015, 11:43 PM

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QUOTE(andyfriends @ Oct 26 2015, 11:38 PM)
what about general allowance?under which category?
my fren co has general allowance max 6k even no rec also can claim..
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Different company has different practice or policy of defining it.

General allowance up to RM 6k should be:

QUOTE
Petrol card, petrol allowance, travelling allowance or toll payment or any of its combination for official duties. If the amount received exceeds RM6,000 a year, the employee can make a further deduction in respect of the amount spent for official duties. Records pertaining to the claim for official duties and the exempted amount must be kept for a period of 7 years for audit purpose.

SUSfuzzy
post Oct 27 2015, 05:06 PM

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Is there any place where we can gauge if filling as individual or joint couple tax return would suit us more?
rapple
post Oct 27 2015, 05:39 PM

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QUOTE(fuzzy @ Oct 27 2015, 05:06 PM)
Is there any place where we can gauge if filling as individual or joint couple tax return would suit us more?
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If both also working, joint assessment surely a bad idea.

SUSfuzzy
post Oct 27 2015, 05:45 PM

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QUOTE(rapple @ Oct 27 2015, 05:39 PM)
If both also working, joint assessment surely a bad idea.
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ah, good to know biggrin.gif
cherroy
post Oct 27 2015, 05:50 PM

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QUOTE(andyfriends @ Oct 26 2015, 11:38 PM)
what about general allowance?under which category?
my fren co has general allowance max 6k even no rec also can claim..
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QUOTE(David83 @ Oct 26 2015, 11:43 PM)
Different company has different practice or policy of defining it.

General allowance up to RM 6k should be:
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General allowance is not tax exempted or relief.

Those allowances that are tax exempted must be due to the need to carry out work.

QUOTE
Petrol card, petrol allowance, travelling allowance or toll payment or any of its combination for official duties. If the amount received exceeds RM6,000 a year, the employee can make a further deduction in respect of the amount spent for official duties


Sitting in air-cond room while receiving foods allowance is not tax exempted.
dradormien
post Oct 27 2015, 06:36 PM

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I paid my income tax through online, and save the receipt in laptop. Now laptop kaput already, how to get back the income tax receipt payment? thanks!
rapple
post Oct 27 2015, 06:46 PM

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QUOTE(dradormien @ Oct 27 2015, 06:36 PM)
I paid my income tax through online, and save the receipt in laptop. Now laptop kaput already, how to get back the income tax receipt payment? thanks!
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Go hasil then login. Under efilig tab Find semakan pengesahan.
dradormien
post Oct 27 2015, 06:48 PM

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QUOTE(rapple @ Oct 27 2015, 06:46 PM)
Go hasil then login. Under efilig tab Find semakan pengesahan.
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Thanks for quick reply. Already open that, but couldn't find any receipt button
rapple
post Oct 27 2015, 06:50 PM

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QUOTE(dradormien @ Oct 27 2015, 06:48 PM)
Thanks for quick reply. Already open that, but couldn't find any receipt button
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choose "simpan & cetak pengesahan".

This one has LHDN Chop.
nexona88
post Oct 27 2015, 11:09 PM

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From: REality
Federal govt seeks to tighten tax laws, ups fine for those failing to file returns
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Those found guilty of not doing so for two years or more can be jailed up to six months, or fined up to RM20,000, or both, according to its proposed amendments to the Income Tax Act 1967 (ITA).

The monetary penalty for those found guilty of doing so for one year is between RM200 and RM2,000, according to the Finance Act 2015 Bill tabled for the first reading to amend the ITA and five other existing tax laws today.

Currently, anyone who fails to furnish a return can only be fined up to RM2,000 — or jailed not more than six months — or both, regardless of the number of years the tax returns were not filed.

http://www.theedgemarkets.com/my/article/f...?type=Corporate
cacheman
post Oct 28 2015, 01:23 AM

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Hi, guys. Hope you all can help. My income was taxable previously (and therefore, I did submitted my income tax return) but since the last couple of years, my income fell below the taxable income category. Should I still need to file my income tax return every year or can I just not bothered to send in my income tax forms?

Also, if I am self-employed (since 3 years ago), my income have not reached a taxable level yet. Do I still need to file my income tax?

Thanks
Tuyin
post Oct 28 2015, 01:41 AM

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Yes

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