QUOTE(andyfriends @ Oct 26 2015, 01:53 PM)
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
Income Tax Issues v4, Scope: e-BE and eB only
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Oct 26 2015, 02:16 PM
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All Stars
52,874 posts Joined: Jan 2003 |
QUOTE(andyfriends @ Oct 26 2015, 01:53 PM) 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 |
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Oct 26 2015, 08:41 PM
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Junior Member
388 posts Joined: Jul 2006 From: Seberang Jaya |
Can I claim relief if I buy glasses for parent? Especially if the glasses are those expensive bifocals/ progressive lenses?
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Oct 26 2015, 08:48 PM
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All Stars
52,874 posts Joined: Jan 2003 |
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Oct 26 2015, 11:19 PM
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Senior Member
2,326 posts Joined: Nov 2006 From: Maltese Planet ^_^ |
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Oct 26 2015, 11:28 PM
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All Stars
52,874 posts Joined: Jan 2003 |
QUOTE(andyfriends @ Oct 26 2015, 11:19 PM) what are the categories of fixed recurring allowance n Non-taxable or tax-exempt allowance ? Try this link: http://www.millionsystem.com.my/article.php?id=38where can i read up? |
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Oct 26 2015, 11:31 PM
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Senior Member
2,326 posts Joined: Nov 2006 From: Maltese Planet ^_^ |
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 |
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Oct 26 2015, 11:35 PM
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All Stars
52,874 posts Joined: Jan 2003 |
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? 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.any source in case nd to argue with irb 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 |
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Oct 26 2015, 11:38 PM
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Senior Member
2,326 posts Joined: Nov 2006 From: Maltese Planet ^_^ |
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. what about general allowance?under which category? Your HR is responsible to put that amount into Section G. If taxable, then no need to keep since it already incurs tax. my fren co has general allowance max 6k even no rec also can claim.. |
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Oct 26 2015, 11:43 PM
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All Stars
52,874 posts Joined: Jan 2003 |
QUOTE(andyfriends @ Oct 26 2015, 11:38 PM) what about general allowance?under which category? Different company has different practice or policy of defining it.my fren co has general allowance max 6k even no rec also can claim.. 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. |
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Oct 27 2015, 05:06 PM
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Senior Member
7,106 posts Joined: Jan 2003 |
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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Oct 27 2015, 05:39 PM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak |
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Oct 27 2015, 05:45 PM
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Senior Member
7,106 posts Joined: Jan 2003 |
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Oct 27 2015, 05:50 PM
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Staff
25,802 posts Joined: Jan 2003 From: Penang |
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.. QUOTE(David83 @ Oct 26 2015, 11:43 PM) Different company has different practice or policy of defining it. General allowance is not tax exempted or relief. General allowance up to RM 6k should be: 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. |
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Oct 27 2015, 06:36 PM
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Junior Member
288 posts Joined: Jan 2011 |
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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Oct 27 2015, 06:46 PM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak |
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Oct 27 2015, 06:48 PM
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Junior Member
288 posts Joined: Jan 2011 |
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Oct 27 2015, 06:50 PM
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Senior Member
2,065 posts Joined: Oct 2014 From: Ipoh,Perak |
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Oct 27 2015, 11:09 PM
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All Stars
48,479 posts Joined: Sep 2014 From: REality |
Federal govt seeks to tighten tax laws, ups fine for those failing to file returns
QUOTE 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 |
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Oct 28 2015, 01:23 AM
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Junior Member
16 posts Joined: Aug 2008 |
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 |
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Oct 28 2015, 01:41 AM
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Junior Member
209 posts Joined: Oct 2011 |
Yes
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