ya i know need to put in money by 31/12, but can i close after that date? basically just want to qualify for tax relief.

You can do withdrawal but not sure if close account next time your children eligible to apply ptptn or not / re-open the account..

I do the same as you, deposit just for the tax relief but i wouldn't close the account. Probably leave a few hundred inside.

Yes

Hi all,

I wonder is there any interest or penalty LHDN will charge if we choose to pay the income tax by installment?

My brother was taxed by LHDN, on top of the amount that he needs to pay, there is additional 1k plus he needs to pay as well which according to the officer, this is the penalty charge to him for choosing installment plan. This is true?

LHDN won't impose penalty if tax payer choose to pay via instalment
Scan a copy of the LHDN notice address to your brother for our reference

The payment due date / filing date is set at 30th Apr (BE) and 30th June (B).

There is already a penalty for late payment whether you pay lump sum or installment.

TP1 form is to be submitted at the start of the year... not for Year end use lah.
Your HR dept is not doing it right.

I heard personal tax will be different in year 2016 like down 1%? and there is a super-rich band 28%?

I just checked the Hasil website but couldn't find the new PCB 2016 jadual.

someone please enlighten me. thank you

Jadual PCB 2016 - (Akan dimuatnaik selepas KKCP dan Akta diwartakan pada atau sebelum 31 Disember 2015)
http://www.hasil.gov.my/goindex.php?kump=5...nit=5100&sequ=6

HR told us they will conduct quarterly for the TP1 form submission.

Every quarter we will put in current quarter's deductible expenses (relief) and the PCB deduction would be adjusted accordingly for the month that fall at quarter end.

By the way I am very new to this form thingy.

Guys, i need some help, next 2 days will be end of year 2015, recently earlier this year, i take over my family biz, and all related transfer ownership has been done. Except i haven't went to IRB to register myself for an account? should i do within 2 days or still ok to do by next month? thanks.

hi all. i need some advice as i'm quite confused after reading around. my wife is a foreigner. if she lives with me in malaysia but does some part-time work for company in HK. Is she liable to pay tax? The payment wont be much. like less than RM3-5k/month.

Yes, need to declare and file taxes in Malaysia, unless taxes already filed in HK or other country with double taxation avoidance agreement with Malaysia.

Whether liable to actually pay any tax, will depend on the final calculation after doing the filing. Sorry, I am not familiar with tax rate or tax reliefs that foreigners can get.

I opted CP38 (installment) for the overdue amount...no penalty charges.

I just don't understand why they want to penalty tax payers if tax payers are willing to pay their tax even is in the installment mode. To me, not everyone is able to folk out the money to pay at lump sum, especially when the tax amount is high.

Hi William,

Not manage to get the statement from my brother, all I can get is on the statement the penalty is due to "Kenaikan cukai sek 103 ACP" What is this sek 103 ACP mean?

Can u explain in details what happened as Sec 103 is very wide

i found this on the net,...hope it helps
http://www.hasil.gov.my/goindex.php?kump=5...it=7000&sequ=11

ACP = Akta cukai pendapatan
Akta Cukai Pendapatan 1967
http://www.hasil.gov.my/goindex.php?kump=5...3&unit=1&sequ=2
ACP section 103
http://www.hasil.gov.my/pdf/pdfam/3696.pdf




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Just downloaded the new PCB jadual. I found the PCB for the same income has drop quite a lot in 2016. Wanna confirm whether if I am missing something.

Example
In 2015. Married, wife working , 3 children, and monthly salary is RM4000 (How can survive in Malaysia? )

1) EPF is RM4000 x 0.11 = RM440
2) Taxable salary is RM4000-RM440 = RM3560
3) Income tax PCB 2009 Chart show RM3560 taxable salary need to pay RM70

But in 2016, we pay RM11.35 only??


Can someone please confirm?

In March 2010, the National Economic Advisory Council to the NEM reported that 80% of households had an average income of less than RM3,000 per month,..............

http://www.tindakmalaysia.com/showthread.p...-under-RM-3-000