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

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mamamia
post Jan 23 2016, 08:56 AM

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If ur co didn't apply tax file for u, how can a fresh graduates open a new tax file number for himself?
SUSsupersound
post Jan 23 2016, 02:09 PM

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QUOTE(audy @ Jan 22 2016, 08:16 PM)
I did a check on the PCB 2016 table for the tax deduction on my salary range and noticed that the amount is actually higher than my income tax amt for 2015. The difference is about RM100. How is this possible? I thought the tax amt is supposed to reduce with the Budget 2016.

FYI, every year I get tax refund from IRB so it is definitely not because my company under deduct the monthly tax.

Anyone know a possible explanation?
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PCB are just an estimated figures, the actual you still need to fill in the e-filling with all of your possible claims then only will come out the end results.
SUSsupersound
post Jan 23 2016, 02:10 PM

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QUOTE(mamamia @ Jan 23 2016, 08:56 AM)
If ur co didn't apply tax file for u, how can a fresh graduates open a new tax file number for himself?
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You can open the account your own, in fact IRB and companies prefer this way thumbup.gif
LNYC
post Jan 23 2016, 02:28 PM

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QUOTE(Silverdust @ Jan 22 2016, 06:40 PM)
Wow, thanks that provide some insight, though.

Another question is it an obligation for companies to help to deduct your salary and "pay on behalf of you" for your income tax?
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http://www.hasil.gov.my/goindex.php?kump=3...&unit=3&sequ=1#

Hi, u may refer to above link for some Q&A....hope it helps you.
Errmm...regarding your questions, I m not sure..perhaps HR people mayb able to help you. But, i f i m not wrong, the HR "need" to do it...
LNYC
post Jan 23 2016, 02:30 PM

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QUOTE(audy @ Jan 22 2016, 08:16 PM)
I did a check on the PCB 2016 table for the tax deduction on my salary range and noticed that the amount is actually higher than my income tax amt for 2015. The difference is about RM100. How is this possible? I thought the tax amt is supposed to reduce with the Budget 2016.

FYI, every year I get tax refund from IRB so it is definitely not because my company under deduct the monthly tax.

Anyone know a possible explanation?
*
Could be due to some exempted category now finished? E.G, the broadband tax?
rapple
post Jan 23 2016, 02:49 PM

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QUOTE(LNYC @ Jan 23 2016, 02:28 PM)
http://www.hasil.gov.my/goindex.php?kump=3...&unit=3&sequ=1#

Hi, u may refer to above link for some Q&A....hope it helps you.
Errmm...regarding your questions, I m not sure..perhaps HR people mayb able to help you. But, i f i m not wrong, the HR "need" to do it...
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Yes it's compulsory to deduct and pay on behalf of employees if they are liable to PCB.

Company will get fined for not deducting/paying PCB.
rapple
post Jan 23 2016, 02:51 PM

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QUOTE(audy @ Jan 22 2016, 08:16 PM)
I did a check on the PCB 2016 table for the tax deduction on my salary range and noticed that the amount is actually higher than my income tax amt for 2015. The difference is about RM100. How is this possible? I thought the tax amt is supposed to reduce with the Budget 2016.

FYI, every year I get tax refund from IRB so it is definitely not because my company under deduct the monthly tax.

Anyone know a possible explanation?
*
Do you have extra income during that month like bonus/allowances?

The PCB difference should not be that huge unless you have a huge increase in your pay.
mamamia
post Jan 23 2016, 03:15 PM

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QUOTE(supersound @ Jan 23 2016, 02:10 PM)
You can open the account your own, in fact IRB and companies prefer this way thumbup.gif
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Can apply online or need to walk in to irb branch?
SUSsupersound
post Jan 23 2016, 05:00 PM

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QUOTE(mamamia @ Jan 23 2016, 03:15 PM)
Can apply online or need to walk in to irb branch?
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I think now can already.
audy
post Jan 25 2016, 12:56 AM

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QUOTE(rapple @ Jan 23 2016, 02:51 PM)
Do you have extra income during that month like bonus/allowances?

The PCB difference should not be that huge unless you have a huge increase in your pay.
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If got bonus definitely there's an increase in tax deduction what I'm curious is the rate in the 2016 PCB table is higher than my normal salary monthly tax deduction. I thought would be lower as stated in Budget 2015 & 2016. Im very sure my company didnt under deduct 😄 since I do get tax refund. Anyway no big deal. Was just asking.
Belphegor
post Jan 26 2016, 12:21 PM

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Hi, would like to know what's the minimum annual salary that will get income tax? And does that inclusive of bonus as well?

Bonus can get tax and deduction of EPF & socso too?

Checked website but there are many versions. Need someone who are experienced to clarify this to me.

Thank you in advance.
cherroy
post Jan 26 2016, 01:19 PM

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QUOTE(Belphegor @ Jan 26 2016, 12:21 PM)
Hi, would like to know what's the minimum annual salary that will get income tax? And does that inclusive of bonus as well?

Bonus can get tax and deduction of EPF & socso too?

Checked website but there are many versions. Need someone who are experienced to clarify this to me.

Thank you in advance.
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Bonus surely is a taxable income and "EPF"ed as well.

EPF got tax relief which can be claimed up to Rm6k combined with life insurance.
Socso, currently no, next year YA 2016, then yes, up to Rm250.
Belphegor
post Jan 26 2016, 02:03 PM

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QUOTE(cherroy @ Jan 26 2016, 01:19 PM)
Bonus surely is a taxable income and "EPF"ed as well.

EPF got tax relief which can be claimed up to Rm6k combined with life insurance.
Socso, currently no, next year YA 2016, then yes, up to Rm250.
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Thank you. What about the minimum annual salary?
cherroy
post Jan 26 2016, 02:15 PM

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QUOTE(Belphegor @ Jan 26 2016, 02:03 PM)
Thank you. What about the minimum annual salary?
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There is no such thing of "minimum" annual salary.

Income tax got a table.

You added up your total taxable income (monthly salary + bonus + BIK) as your gross taxable income, then deducted out the relief you entitled, personal, EPF, etc. then whatever left is the net chargeable income and then you find out from the table how much need to pay for such a chargeable income.
If below the threshold then don't need to pay, generally about 30K+ above, it will vary as each person relief status may not the same.

A good website to read upon for newbie in tax.

https://ringgitplus.com/en/blog/Personal-Fi...Guide-2015.html
Belphegor
post Jan 26 2016, 02:20 PM

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QUOTE(cherroy @ Jan 26 2016, 02:15 PM)
There is no such thing of "minimum" annual salary.

Income tax got a table.

You added up your total taxable income (monthly salary + bonus + BIK) as your gross taxable income, then deducted out the relief you entitled, personal, EPF, etc. then whatever left is the net chargeable income and then you find out from the table how much need to pay for such a chargeable income.
If below the threshold then don't need to pay, generally about 30K+ above, it will vary as each person relief status may not the same.

A good website to read upon for newbie in tax.

https://ringgitplus.com/en/blog/Personal-Fi...Guide-2015.html
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many thanks! notworthy.gif Allowance, incentive, commissions not considered right?
cherroy
post Jan 26 2016, 02:35 PM

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QUOTE(Belphegor @ Jan 26 2016, 02:20 PM)
many thanks! notworthy.gif Allowance, incentive, commissions not considered right?
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The above mentioned are taxable income which must be included.

Even car given by company for you to drive, you need to include it as BIK into your taxable income, there is a list of table how much BIK based on car value given, eg. 3.6k as BIK for car valued 75~100k, which will be added into your gross/chargeable income.

Same with mobile phone bill, if your company pay your mobile phone bill as benefit given to employee, you need to add back into your taxable income as BIK

This post has been edited by cherroy: Jan 26 2016, 02:36 PM
Belphegor
post Jan 26 2016, 02:42 PM

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QUOTE(cherroy @ Jan 26 2016, 02:35 PM)
The above mentioned are taxable income which must be included.

Even car given by company for you to drive, you need to include it as BIK into your taxable income, there is a list of table how much BIK based on car value given, eg. 3.6k as BIK for car valued 75~100k, which will be added into your gross/chargeable income.

Same with mobile phone bill, if your company pay your mobile phone bill as benefit given to employee, you need to add back into your taxable income as BIK
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What about phone allowance? That include as well?
cherroy
post Jan 26 2016, 02:51 PM

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QUOTE(Belphegor @ Jan 26 2016, 02:42 PM)
What about phone allowance? That include as well?
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Yes, mostly you receive from employment generally is taxable in nature, except those listed as exempted category like VSS, retirement gratuity, specific travelling allowance the specific needed for job scope (like receive travelling allowance due to need to perform sales outstation) etc.
Secruoser
post Jan 26 2016, 03:37 PM

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QUOTE
Walau bagaimanapun, mulai Tahun 2015 individu yang mempunyai pendapatan penggajian tahunan melebihi RM34,000 (selepas potongan KWSP) perlu mendaftar fail cukai pendapatan.


Question. 'mulai Tahun 2015' means the RM34,000 applicable for income tax year 2014 or 2015?
SUSsupersound
post Jan 26 2016, 05:18 PM

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QUOTE(Secruoser @ Jan 26 2016, 03:37 PM)
Question. 'mulai Tahun 2015' means the RM34,000 applicable for income tax year 2014 or 2015?
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Nope, even your pay are only rm27000 a year you still need to register your self, this is to prevent any problem later on especially when you are applying loan.
As banks will take this as a consideration.

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