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

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SUSMNet
post Jan 2 2016, 01:02 PM

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QUOTE(gsem984 @ Jan 2 2016, 09:25 AM)
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?
*
Where u download?
aegis6503
post Jan 2 2016, 01:20 PM

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for me still the same amount, only those with child is reduced only but not for single
nexona88
post Jan 2 2016, 01:23 PM

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yes. that's should be correct.

Jibby did reduce income tax rate for 2016
cherroy
post Jan 2 2016, 01:46 PM

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QUOTE(gsem984 @ Jan 2 2016, 09:25 AM)
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?
*
Yes, tax rate is lowered step by step since 2009.
wil-i-am
post Jan 2 2016, 02:11 PM

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Among the new personal reliefs in YA 2016 is additional 1k per child (<18yo), 2k per child (> 18yo), parental care 1.5k for fa & ma each n 250 for contribution to socso
nexona88
post Jan 2 2016, 02:13 PM

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income tax rate reduce but cost of living way higher vmad.gif mad.gif
peeyaw
post Jan 5 2016, 09:43 PM

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Guys.. Need advise..

I've filed my tax return for year 2014 and necessary refunds have been given to me..

Today, I received a letter from them saying that I have Rm1k+ tax unpaid for year 2014..

How is this possible when I've already filed my tax in time and I get refunded for excess tax paid.. And now they telling me I still have unpaid tax for that year
mamamia
post Jan 5 2016, 09:51 PM

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QUOTE(peeyaw @ Jan 5 2016, 09:43 PM)
Guys.. Need advise..

I've filed my tax return for year 2014 and necessary refunds have been given to me..

Today, I received a letter from them saying that I have Rm1k+ tax unpaid for year 2014..

How is this possible when I've already filed my tax in time and I get refunded for excess tax paid.. And now they telling me I still have unpaid tax for that year
*
Maybe there is some amount or relief which u over claimed.. There should have given the details in the letter on how they get the unpaid tax computation. Else u may call to IRB to check
nexona88
post Jan 5 2016, 10:02 PM

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QUOTE(peeyaw @ Jan 5 2016, 09:43 PM)
Guys.. Need advise..

I've filed my tax return for year 2014 and necessary refunds have been given to me..

Today, I received a letter from them saying that I have Rm1k+ tax unpaid for year 2014..

How is this possible when I've already filed my tax in time and I get refunded for excess tax paid.. And now they telling me I still have unpaid tax for that year
*
that's weird blink.gif guess they "found something fishy". so now u needed to pay up hmm.gif
peeyaw
post Jan 6 2016, 09:07 AM

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QUOTE(mamamia @ Jan 5 2016, 09:51 PM)
Maybe there is some amount or relief which u over claimed.. There should have given the details in the letter on how they get the unpaid tax computation. Else u may call to IRB to check
*
QUOTE(nexona88 @ Jan 5 2016, 10:02 PM)
that's weird  blink.gif guess they "found something fishy". so now u needed to pay up  hmm.gif
*
NOPE no details given.. They just state the amount I need to pay that's all..

I've called them N they just tell me it's cukai tambahan.. Can I know what does it mean? If it's fishy they can just ask me to produce documents to prove it but they didn't

wil-i-am
post Jan 6 2016, 02:53 PM

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QUOTE(peeyaw @ Jan 6 2016, 09:07 AM)
NOPE no details given.. They just state the amount I need to pay that's all..

I've called them N they just tell me it's cukai tambahan.. Can I know what does it mean? If it's fishy they can just ask me to produce documents to prove it but they didn't
*
I wud advise u visit their ofiz to seek clarification face-to-face
nexona88
post Jan 6 2016, 10:33 PM

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QUOTE(peeyaw @ Jan 6 2016, 09:07 AM)
NOPE no details given.. They just state the amount I need to pay that's all..

I've called them N they just tell me it's cukai tambahan.. Can I know what does it mean? If it's fishy they can just ask me to produce documents to prove it but they didn't
*
lol cukai tambahan? seriously shakehead.gif

they simply put new figure ah doh.gif
stoppy
post Jan 10 2016, 12:52 AM

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Hi,

I am employed in Singapore (of course I am taxable in Singapore). Due to my flexibility of work, I have more than 165 days in Malaysia. I am tax resident in Malaysia YA 2014 and preceding years.

May I know my tax status in Malaysia being resident or non resident for YA 2015? Thanks
ConquerorX
post Jan 10 2016, 03:36 PM

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Hi All,

I plan to register a company name to start off with some online freelancing services. It will be a sole proprietary ownership and I'll issue invoices for the services.

May I know in terms of bookeeping, especially the income tax, what would be the best approach? I'm not worried about the GST because obviously, the income would not be as high as the requirements.

Any suggestion, ideas of approach are much appreciated notworthy.gif
Alex.Jy
post Jan 11 2016, 08:45 PM

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Hello all sifus, I'm currently in the midst of learning how to do business with my family. And to be frank my family business is quite a mess especially when come to filing and taxation stuff. There's a lot of questions about income tax for me as I'm totally confused right now.

Scenario
COMPANY A (partnership enterprise) 50/50
Profit 50,000 in a year
Salary payout
- toll reimbursement 600 (November & December only)
- petrol reimbursement 600 (November & December only)
- food allowance 300 (November & December only)
- basic 1500 (September to December)

COMPANY B (Employee)
- salary 2,500 (EPF 325+275) (1year)
- reimbursement 600 (1year)

COMPANY C (sdn Bhd) 49% shares
- Loss of 10,000
Salary payout
- toll reimbursement 600 (September to December)
- petrol reimbursement 600 (September to December)
- food allowance 300 (September to December)
- basic 1500 (September to December)

How do I calculate? Company sdn Bhd declare income tax and I personally need to declare as well?
rapple
post Jan 12 2016, 10:25 AM

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QUOTE(Alex.Jy @ Jan 11 2016, 08:45 PM)
Hello all sifus, I'm currently in the midst of learning how to do business with my family. And to be frank my family business is quite a mess especially when come to filing and taxation stuff. There's a lot of questions about income tax for me as I'm totally confused right now.

Scenario
COMPANY A (partnership enterprise) 50/50
Profit 50,000 in a year
Salary  payout
- toll reimbursement 600 (November & December only)
- petrol reimbursement 600 (November & December only)
- food allowance 300 (November & December only)
- basic 1500 (September  to December)

COMPANY B (Employee)
- salary 2,500 (EPF 325+275) (1year)
- reimbursement 600 (1year)

COMPANY C (sdn Bhd) 49% shares
- Loss of 10,000
Salary  payout
- toll reimbursement 600 (September to December)
- petrol reimbursement 600 (September to December)
- food allowance 300 (September to December)
- basic 1500 (September  to December)

How do I calculate? Company sdn Bhd declare income tax and I personally need to declare as well?
*
For Sdn Bhd, there is a separate tax assessment depending on the financial year end.

Yes you need to declare in your personal tax.
polaloboy
post Jan 13 2016, 12:45 AM

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Hi guys, I'm an internet marketer and my incomes are from blogs and e-commerce sites. I usually got my income via PayPal or cheque in USD. This is my first time paying income tax and I was doing quite well last year, so I'm thinking of finding a tax advisor/accountant to advice/calculate my income tax.

Anyone can intro tax advisor/accountant who is experienced with dealing with clients similar to me (internet marketer)? Thanks in advance smile.gif
kweil
post Jan 13 2016, 10:33 AM

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Hello..

May I know what is the kod bayaran for penalti payment?? is it 084???

Thank you..
wil-i-am
post Jan 13 2016, 10:21 PM

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QUOTE(kweil @ Jan 13 2016, 10:33 AM)
Hello..

May I know what is the kod bayaran for penalti payment??  is it 084???

Thank you..
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084 is Bayaran Ansuran Cukai Individu
There r a few kod for penalty

kweil
post Jan 14 2016, 04:24 PM

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QUOTE(wil-i-am @ Jan 13 2016, 10:21 PM)
084 is Bayaran Ansuran Cukai Individu
There r a few kod for penalty
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Called LHDN and they replied can use 084..

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