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

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icecoolman
post Aug 5 2016, 11:53 AM

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QUOTE(ronnie @ Aug 4 2016, 08:00 AM)
Whatever amount of Rental Income received, must be filed Income Tax. That's the law.
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Thanks for the reply. I know that's the law but anyone have any comments/advice for this. In other words, if it's not declared, would they know and come after this?
icecoolman
post Aug 5 2016, 12:19 PM

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QUOTE(dummies @ Mar 28 2016, 11:08 AM)
hi all

If i have a condo with joint name ownership with my wife which i have rented it out, how should i declare the rental income and expense (i.e : maintenance fees and etc) in my BE? is it all the expense and income for that rental split 50-50 with my wife ?  My wife declares her tax individually using her BE form and not join with me

if i buy medical card insurance for my mother, can I declare that as tax deduction under the "parents medication" section?

thanks
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This posting is by another member and I have the same questions as this for rental income. Can anyone advice since there were no replies/advice to this?
frostfrench
post Aug 9 2016, 02:04 PM

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Hello guys,

What's the quickest way to have an income tax number with LHDN?
OTHER THAN having a job?

thanks
icecoolman
post Aug 9 2016, 04:28 PM

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QUOTE(roadrunner0 @ Aug 9 2016, 02:11 PM)
Always declare lo, from what i heard all the rental agreement already tied to your IC lo. Because all the tenancy need to be stamp with LHDN.

Dont know you the government are now 'hungry' ? if they every know you are evading tax (just matter of time), they will made you pay for the amount you evade + penalty. Dont play play lo...
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Yes, I'm aware of this but just checking further. Do you know how much amount annual rental income before they are alert on this? Of course if I rent a luxury condo say RM10K/month which is RM120K a year then I guess it will be in their radar to look for you. So it's much lesser, not sure what is the amount before it really appears in their radar.

I believe there are many people renting old apartments out at even RM500/month which is RM6K a year. So not sure if anyone here can share anything on this.
iwubpreve
post Aug 16 2016, 11:14 AM

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hi guys, wanna ask abt tax issue. i work in singapore, holding a singapore working pass, do i still need to pay tax to malaysia government?
LNYC
post Aug 16 2016, 08:17 PM

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QUOTE(iwubpreve @ Aug 16 2016, 11:14 AM)
hi guys, wanna ask abt tax issue. i work in singapore, holding a singapore working pass, do i still need to pay tax to malaysia government?
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hihi...since all senior bz...i junior reply ya.

after read all infor from the thread...when u go singapore, u should get the tax clearance form from m'sia...then when u work in singapore, u pay sing tax...so u no need pay m'sia tax.

hope it helps
iwubpreve
post Aug 17 2016, 12:35 AM

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QUOTE(LNYC @ Aug 16 2016, 08:17 PM)
hihi...since all senior bz...i junior reply ya.

after read all infor from the thread...when u go singapore, u should get the tax clearance form from m'sia...then when u work in singapore, u pay sing tax...so u no need pay m'sia tax.

hope it helps
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what if I do nothing and straight away go sg work for 1 year then come back how ar? didn't get the tax clearance form also when leave to sg
subaiku
post Aug 17 2016, 11:53 AM

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Hey guys, just got this love letter from LHDN. Does it mean they will be coming over to check records and such? Declared under own business and made a loss this year so there was overpaid tax from last year's cukai ansuran.


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chiahau
post Aug 17 2016, 02:05 PM

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QUOTE(subaiku @ Aug 17 2016, 11:53 AM)
Hey guys, just got this love letter from LHDN. Does it mean they will be coming over to check records and such? Declared under own business and made a loss this year so there was overpaid tax from last year's cukai ansuran.
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Their officer is doing some sort of investigations.

If they want to visit you or such, they will send a letter with the title "Lawatan Meja Audit" or something similar.

And in the letter will have specific request for what documents you need to prepare.
Win Win Inspiration
post Aug 29 2016, 01:30 PM

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Starting from the Income Tax 2015, no more exemptions for Donations made? Couldn't find this anymore in the exemption section.
klthor
post Aug 29 2016, 05:28 PM

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QUOTE(Win Win Inspiration @ Aug 29 2016, 01:30 PM)
Starting from the Income Tax 2015, no more exemptions for Donations made? Couldn't find this anymore in the exemption section.
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i assume you are filling up your B2015, B13 approved donation.
SUSMNet
post Aug 30 2016, 07:25 AM

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How the donation work?
I quite confused.
klthor
post Aug 30 2016, 09:56 AM

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QUOTE(MNet @ Aug 30 2016, 07:25 AM)
How the donation work?
I quite confused.
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no tax receipt = can not claim, meaning those you donate to temple church all cannot claim unless they can provide your a tax receipt. another thing is it is cap at certain % of your chargeable income which i can not remember the exact %.
LNYC
post Aug 30 2016, 10:14 AM

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QUOTE(klthor @ Aug 30 2016, 09:56 AM)
no tax receipt = can not claim, meaning those you donate to temple church all cannot claim unless they can provide your a tax receipt. another thing is it is cap at certain % of your chargeable income which i can not remember the exact %.
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Ya. Donation receipt if can be used for tax relief will have a quote down there... Eg: exemption number and nomb kelulusan.
SUSMNet
post Aug 30 2016, 08:06 PM

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How about the percentage of tax relief for donation?
I find it very hard to understand the tax jargon.
wil-i-am
post Aug 31 2016, 07:49 AM

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QUOTE(MNet @ Aug 30 2016, 08:06 PM)
How about the percentage of tax relief for donation?
I find it very hard to understand the tax jargon.
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Perhaps u may consider to hire a qualified Tax Agents to assist u
SUSMNet
post Aug 31 2016, 08:30 AM

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no thx
nexona88
post Aug 31 2016, 12:14 PM

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QUOTE(MNet @ Aug 30 2016, 08:06 PM)
How about the percentage of tax relief for donation?
I find it very hard to understand the tax jargon.
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What u don't understand..
Maybe Lyn members can help...
klthor
post Sep 1 2016, 02:40 PM

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QUOTE(MNet @ Aug 30 2016, 08:06 PM)
How about the percentage of tax relief for donation?
I find it very hard to understand the tax jargon.
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Gift of money to Approved Institutions or Organisations.
(Amount is limited to 7% of aggregate income)

aggregate income = total income = employment + other income (rental etc) + business income 1 + business income 2 .......

example

your employment income this year = RM 120k
rental income = RM12k
business income = Rm240k

120 + 12 +240 = 372 k x 7%
=26k

meaning your donation can not exceed RM26k, if you donate to jibby (assumed is an approved donation) Rm50k this year you can only claim RM26k.
klthor
post Sep 1 2016, 02:45 PM

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http://www.hasil.gov.my/bt_goindex.php?bt_...nit=1&bt_sequ=1

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