Ts, you should still declare your income even though not taxable. Else they will just assume u avoiding tax. If later got penalty then more leceh to handle

Ok, guys. Thanks for the info.

Yes i know.

but now our battle is against LHDN
hence, wanting to find the best solution.

any source documents for that > about general allowance

Guys, I have yet to receive my RM31.70 tax return since e-filling in March.
I feel like contact them, but takut they ask me to bring all my past 7 years receipts along.

You should contact them and ask why.

I help my sis and mom to submit their return in Apr, both also got back their refund after 2 months.

Even my company who submitted their Form C in July get back the refund in Sept.

The Inland Revenue Board (IRB) will penalise 65,392 company and non-company employers for not submitting the Form E for year of assessment 2014.

Chief Executive Officer Tan Sri Mohd Shukor Mahfar said for year of assessment 2014 ended Mar 31, 2015, a total of 476,095 company and non-company employers were registered with the board.

"Of the total, 410,703 employers had filed their tax assessment statements," he said when met after the launch of the National Tax Seminar 2015 here.

Of this number, 280,492 company employers had submitted their Form E, 128,643 of whom used e-filing and 151,849 submitted manually, he said.

The IRB has made it mandatory for company employers to submit their Form E online from year of assessment 2016.

Guys, just to check..so there is no % rate cut announced in budget? I recall they touted it as one of the measure when GST was introduced last time..

The new tax rate upon the implementation of GST is already in effect this year (2015) from Budget 2015. It'll affect those which have annual taxable income below RM 1 million. All tax brackets could observe a reduction of 1 to 3%.

However, starting 2016, those earning annual taxable income above RM 600k will see an increase of 3 to 4%

Up till now, the table for 2015 is not released yet? Just hope they dont back track on this.

Who said not released:

http://www.hasil.gov.my/goindex.php?kump=5...it=5000&sequ=11

thank you

Sheet, still need to pay 25%

gomen say thank you for paying taxes

I was happy to see 24%, but now I have to think again with that table. Still 50% are paid by my previous employer, so who cares

IRB expects RM132bil in taxes in 2016

http://www.thestar.com.my/Business/Busines...2016/?style=biz

What is Elaun modal?

Elaun Modal / Capital Allowance

Capital allowance is only given to business activity. The person who has the right to claim capital allowance is the person who has expended on the purchase or acquisition of the said asset. Examples of assets that are used in business are motor vehicles, machines, office equipments, furniture, etc.

Hi sifus, I was wondering how should I file my income taxes for shares I have in other companies? Do I just file the difference in start of year vs end of year price difference?

The gain you made in shares trading is tax exempted.

Hi Guys, newbie here.

Im just wierded out. My first time on income tax.
I just did a look around and found this : https://ringgitplus.com/en/blog/Personal-Fi...Guide-2015.html

1.Based on there. My salary is 4500 per month. Does it mean i dont have to pay tax?
2.Or thats annually?
3.If so, then roughly does it mean my taxable income would be (4500*12)-(standard tax relief 9000+6000)= 54000-15000=39000 [roughly here means ignoring other tax relief] = i will be in the 11% tax bracket?
4.If so, lets say i want to add in another tax relief which lets say a computer at max 3000 and books max 1000. So 39000 - 4000 = 35000 which made me fall under the 6% tax bracket. Does it mean that LHDN will pay me back the 4-5% difference that i had paid?
5.If so how much is that roughly?

Thaaaanks.