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

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rapple
post Oct 17 2017, 02:35 PM

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QUOTE(wjleong15 @ Oct 17 2017, 02:31 PM)
if A is retired person and in the past 5 years has no any source of income except this rental
and the rental is less than 20k per year
so he does not need to pay income tax as well
btw, he did not declare income tax anymore since retired
then what should C do?
rclxub.gif
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C declare the rental income and pay additional tax.

rapple
post Oct 19 2017, 09:20 AM

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QUOTE(sidqi @ Oct 19 2017, 12:26 AM)
anybody have claim rebat for phone/ lifestyle?
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It's not a rebate. It's a tax relief.

Starting YA 2017, lifestyle relief consolidated with the following:-
• purchase of books, journals, magazines, printed newspaper and other similar publications for the purpose of enhancing knowledge
• purchase of personal computer, smartphone or tablet
• purchase of sports equipment and gymmemberships, and
• internet subscription

Maximum relief RM2,500.
rapple
post Oct 24 2017, 09:35 AM

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QUOTE(chinti @ Oct 24 2017, 09:11 AM)
hi guys, just wanna ask. usually how long it takes to collect the e-filling pin number?
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Usually very fast.

rapple
post Oct 25 2017, 02:23 PM

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QUOTE(BboyDora @ Oct 25 2017, 12:46 PM)
Hi all,
I just register in SSM recently 20th October 2017 and start the biz.  before this, I just makan gaji.

So, for 2017 income tax submission on year 2018, should I submit ada punca perniagaan? If yes, my submission for income should be very low cz 20th Oct - 31 Dec (just 2 month +)

or I need to mention in Borang B that i got gaji before this? a

And should I need to go LHDN to change my account no? cz I think the number is diff between ada punca perniagaan and tiada punca perniagaan.

Thanks
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e-B, can file both your employment and business income together.

Next year when you do filing instead of selecting e-BE, choose e-B for the filing. IRB will inform you once they change you from SG to OG after you submitted the e-B.

Doesn't matter how much profit, you should put in as your business income for YA 2017.

rapple
post Oct 25 2017, 09:59 PM

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QUOTE(iwubpreve @ Oct 25 2017, 09:51 PM)
got la mine 1. they wanna check specific year. mine is donation to NGO that entitle for tax relief 1. so i need get those documents. just that they mention tahun taksiran 2015 mean they wanna see 2014 donation?
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Tahun Taksiran 2015 equal to year 2015. So provide them with 2015 receipts.
rapple
post Nov 8 2017, 03:10 PM

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QUOTE(veron208 @ Nov 8 2017, 11:10 AM)
Good time to deposit for SSPN for 6k relief .. any one know how to do the withdrawal next year ?
I could not find the withdrawal form
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Withdrawal form need to get from PTPTN office.

QUOTE(chicaman @ Nov 8 2017, 11:12 AM)
Number 19 & 21, it says INCLUDING not through salary deduction, means? Including those PCB and not in PCB?

19. Life insurance dan EPF INCLUDING not through salary deduction

21. Insurance premium for education or medical benefit INCLUDING not through salary deduction

Source: http://www.hasil.gov.my/bt_goindex.php?bt_...sequ=1&bt_lgv=2
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Insurance deduct through salary it's not entitle for tax relief.
rapple
post Nov 9 2017, 10:03 AM

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QUOTE(syieramilia @ Nov 9 2017, 09:52 AM)
Are postpaid mobile data & Unifi can be claimed?
And what if both are registered under my parents name, but I'm the one who helps to pay.
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Anything that you want to claim tax relief must be under your name.
rapple
post Nov 23 2017, 03:55 PM

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QUOTE(mushigen @ Nov 23 2017, 02:22 PM)
Dear All, appreciate your advice here.
Registered a partnership for online business say, on 15 April this year, with no other employment income.

For tax filing, how should I include the income earned by this online business from Jan to April 14th this year (before I registered the business with SSM)? I do have my own P&L calculation sheet for Jan to April 14th.
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1 Jan - 15th Apr - Other Income OR Business Income if you did register a Sole Prop with ROB.
rapple
post Nov 30 2017, 09:38 AM

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QUOTE(steveday @ Nov 30 2017, 09:08 AM)
Dear Sifu,

I have few question to ask your advice:

1. ) If i setup a small enterprise company ( not GST registered ) and buy Software/Services ( virtual product ) from oversea suppliers to sell to local customer, Do i need to pay any GST/input tax?

2. ) If i don't pay tax for these software and services, can i claims this expenses as Cost of Production in Personal income tax declaration.

Many thanks in advance!
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If you are not GST registered, GST INPUT/OUTPUT tax does not affects you.

Any cost/expense that is exclusively for the business can be claim.
rapple
post Nov 30 2017, 12:21 PM

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QUOTE(mushigen @ Nov 30 2017, 12:13 PM)
Dear all,
For a partnership P&L preparation, do we have to get a Chartered Accountant to do it or can we let someone, say, an accounts clerk do it?
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Any accounts person can do it for you.

QUOTE(steveday @ Nov 30 2017, 11:33 AM)
Thank you rapple.

Do you know about the Royalty payment? I just got a reply from INLAND REVENUE BOARD OF MALAYSIA rclxub.gif  :
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Sorry I'm not familiar with royalties.

So far I've only done withholding tax for non-resident payment.

This post has been edited by rapple: Nov 30 2017, 12:25 PM
rapple
post Nov 30 2017, 12:50 PM

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QUOTE(mushigen @ Nov 30 2017, 12:35 PM)
Thank you for your answer. My concern is the requirement when I need to submit the balance sheet and P&L account to LHDN and banks when I apply for housing loan in future. Will they require the documents to be attested by a Chartered Accountant?
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Partner salary, profit sharing, balance sheet & profit & loss is through Form P where each partner will be given CP30.

Amount from CP30 will be declared in your Form B.

Bank will look at bank statement, Form B, Form P and your payment receipt for tax payment.


rapple
post Dec 6 2017, 01:49 PM

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QUOTE(BboyDora @ Dec 6 2017, 12:46 PM)
Thanks cherroy
For my case, im sole prop and my biz is registered using my name also in SSM. The car also my name. So can or not like this?
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To be safe, you should claim 50% of the petrol expense only.

Commercial vehicle is easier to justify than a passenger car but still depends on your nature of business.
rapple
post Dec 27 2017, 08:56 AM

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QUOTE(mushigen @ Dec 26 2017, 11:18 PM)
Dear all, my first year of business (partnership).

Q: for expenses incurred in December (say, supplier and freight forwarding fees), can I pay them in January if there is a credit term of one month or must I follow the invoice date which is in Dec?
Reasons for asking are:
1. I expect our revenue to increase next year, hence this will lower next year's profit and hence tax.
2. I want to pay more tax this year so that my financial situation looks good (in case I want to apply housing loan).

Thank yo.
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Whether you pay your supplier in Jan 2018 or March 2018 it does not matter, cost/expenses must follow the invoice date and recognized as cost for that year.

I.e - invoice dated 31/12/2017 is cost for 2017.



rapple
post Mar 9 2018, 01:19 PM

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QUOTE(stephankaan @ Mar 8 2018, 11:35 PM)
still could not get any reference for this:

is mobile internet like maxis one, celcom etc considered internet for the tax relief?
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Maxis One plan is sold by Maxis as a POSTPAID plan not a BROADBAND plan therefore you can't claim it under the relief you mention.
rapple
post Mar 9 2018, 03:11 PM

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QUOTE(kino318 @ Mar 9 2018, 02:50 PM)
hi, just notice the e-filing under rumusan, the lifestyle portion didnot added under the total deductable.
Not sure anyone of u hv this problem?

Thks
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Doesn't seem to have any problem with mine.

Maybe log out and log in again.

QUOTE(stephankaan @ Mar 9 2018, 02:52 PM)
but LHDN use the term "langganan internet/internet subscription"...doesn't specifically say broadband..

i read some other forums saying can claim...
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If you think postpaid plan can be categorized as internet/broadband plan then go ahead and claim it.

It's self assessment you can claim whatever you think you are eligible. icon_rolleyes.gif



rapple
post Mar 10 2018, 02:55 PM

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QUOTE(MNet @ Mar 10 2018, 02:09 PM)
Anyone use maybank FC barcelona card to pay for the income tax?

will get the 2% rebate?
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Not sure but i remember they have 1.5% charges+gst if use credit card to make the tax payment.

It’s better to wait for May if you plan to use credit card to pay. In May you will get 10% cash back instead of the normal 2%
rapple
post Mar 13 2018, 11:49 AM

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QUOTE(yahiko @ Mar 13 2018, 11:21 AM)
this is what i get.. cant find in the 2017.. anyone login and finish can confirm?
damn.. i miss this last year in the tax relief.. cannot do anything anymore

http://www.hasil.gov.my/bt_goindex.php?bt_...equ=1&bt_lgv=1#
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Faedah pembelian rumah. Potongan cukai terhad kepada RM10,000 setiap tahun asas bagi 3 tahun taksiran berturut-turut bermula dari tarikh faedah mula dibayar.

S&P dated from 2009 to 2010. By YA 2013 it will be the last year you can claim this tax relief. By YA 2014 onwards you shouldn't be claiming this tax relief anymore.



rapple
post Mar 14 2018, 07:42 AM

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QUOTE(coolguy99 @ Mar 13 2018, 10:28 PM)
is there any way to amend if i have already submitted?
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Last year I called them up to inquire on amendments.

Any amendments you have to write a letter and attach the supporting document and send into LHDN. They will review accordingly and then will inform you the result of the amendments.
rapple
post Mar 17 2018, 07:34 AM

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QUOTE(CasualMax @ Mar 17 2018, 12:34 AM)
Guys, I was playing around using iMoney 2016 Income Tax Calculator and input my 2016 annual income which is RM 20,000. The total tax I should pay from the calculator is RM 38.

But I didn't file that cause I heard from many people that if your annual income is less than RM 36,000, then you are not obligated to file your tax.

Is the calculator wrong or there's something that I have missed out?
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There's still a tax rebate of RM400 (chargeable income less than RM35,000) is not included in your calculation.
rapple
post Mar 17 2018, 07:42 AM

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QUOTE(StaiN^ @ Mar 16 2018, 09:16 PM)
Can someone explain how the hell did LHDN come up with this figure RM-978.15 and what does it mean?

Scenario: I just did E-Filing to file taxes for period 2013, 2014, 2015, 2016 and 2017. 2013-2016 I used EA form as was working in a proper job, 2017 I used form B as was a Uber driver.

In E-Filing it said tax payable / overpaid to me is as follows:-

2013 - 0.00
2014 - overpaid 0.03
2015 - overpaid 200.00
2016 - overpaid 1020.00
2017 - 0.00

Is this amount of RM978.15 inclusive of penalty for late payment and are they going to pay me that amount?

TQ
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Look at the first column on your right, that's how the balance derived.

Unless you write in, they will not refund the money to you.

That's why in 2017 you never get the refund so don't expect them to refund to you this year as well.

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