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

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LNYC
post Feb 2 2016, 04:03 PM

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QUOTE(mystvearn @ Jan 30 2016, 04:49 PM)
Hi,

Would like some advice on tax relief. I am a government servant. Currently still on EPF until they start to offer me the pension scheme. I had bought a desktop once, so that is RM3000 deducted. I personally do not like to bring lots of receipts to claim because:
1. Claim too much (max in each category), even though legal will result in officers being sent to scrutinise your dealings. Had few friends like that. Not nice ordeal, even though cleared.
2. Receipts fade away, even though you can scan, try telling that to the officers at that time, might not be so lucky.
3. I am not that good at maitaining tons of receipts for a 5 year period.

I will claim an odd item here and there, (like another pc or book subscription) though I would rather just they see my paycheck, and know that I'm deducting stuff monthly to get the tax rebate. Currently for tax rebate, I have:
1. Deposit monthly to Zakat (I figure I might as well give something locally rather than the gomen). About 60% of the rate of the PCB rate. Zakat is not-refundable, unlike income tax. That is why deposit is about 60%.
2. I have a wife and child (few months old) so I should get extra tax rebate.

What other methods of passive tax rebates which I could do so that when come to e-filling time, I don't spend too much time on stuff?

I am planning to open a SSPN-i account for my child, so I guess that is RM6k extra/year. I have a ASB account, though I am not sure if this is tax deductable.

Second, as my wife is also working, she has yet to setup any kind of tax rebate. What is best for her?

Thank you all for the advice.
*
sports equipment, parents medical relief. some of the tax relief is on yearly basis that u need to check with lhdn for the latest updates.
Secruoser
post Feb 2 2016, 04:07 PM

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QUOTE(rapple @ Feb 2 2016, 02:46 PM)
Yes you can register online and fax your I/C over to IRB.
Due date 30th Apr.

Employer should give you the EA Form before 31st Mac.

You can call back your previous company to get the EA Form.
*
Meaning only have 1 month to file it? Also, I know there are many complicated claims and things to fill up, but my life is not that complicated and nothing to claim. Can I skip everything and which are the compulsory parts I need to fill up? I just want to pay the tax without the stress of calculating this and that.
rapple
post Feb 2 2016, 04:13 PM

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QUOTE(Secruoser @ Feb 2 2016, 04:07 PM)
Meaning only have 1 month to file it? Also, I know there are many complicated claims and things to fill up, but my life is not that complicated and nothing to claim. Can I skip everything and which are the compulsory parts I need to fill up? I just want to pay the tax without the stress of calculating this and that.
*
IRB will not "fine" you for paying more than what you are supposed to pay, but if you purposely pay less and you got caught then be prepared for the high fine from them.

So yes, you can just declare and not claim any relief that you are eligible.

But why you wanna pay more? lol. It's not like they really use the money wisely.
LNYC
post Feb 2 2016, 04:18 PM

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QUOTE(Secruoser @ Feb 2 2016, 04:07 PM)
Meaning only have 1 month to file it? Also, I know there are many complicated claims and things to fill up, but my life is not that complicated and nothing to claim. Can I skip everything and which are the compulsory parts I need to fill up? I just want to pay the tax without the stress of calculating this and that.
*
is this first time you do the tax filling?

actually is very easy..just follow the form and key in the your data..everything is auto calculated. you need not to take out your calculator pun nod.gif
Secruoser
post Feb 2 2016, 05:47 PM

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QUOTE(LNYC @ Feb 2 2016, 04:18 PM)
is this first time you do the tax filling?

actually is very easy..just follow the form and key in the your data..everything is auto calculated. you need not to take out your calculator pun nod.gif
*
I see. Thanks. Yes it's first time.
LNYC
post Feb 2 2016, 07:36 PM

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QUOTE(Secruoser @ Feb 2 2016, 05:47 PM)
I see. Thanks. Yes it's first time.
*
rclxms.gif welcome to the world of income tax

just remember to keep all of your receipt either electronically or hard copy..fotostat them if the ink fade away
mrhaw
post Feb 2 2016, 11:43 PM

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Hello guys I have a question.

I'm planning to start a small online business while still studying in uni.
I'm thinking of using platforms such as FB, Insta, LY and maybe Zalora.

I do know that I have to register with SSM as a Sole proprietor.

My question is that whether do i need to register for income tax? If so, what are the steps?

Thank you, any informative answers will be appreciated smile.gif
theberry
post Feb 3 2016, 09:24 AM

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any tax expert can tell me if i buy computer from sg.
can i use it for deduction?


#once every 3 years


inb4 ayam lazybugass

lucifah
lucifah
post Feb 3 2016, 10:29 AM

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QUOTE(theberry @ Feb 3 2016, 09:24 AM)
any tax expert can tell me if i buy computer from sg.
can i use it for deduction?
#once every 3 years
inb4 ayam lazybugass

lucifah
*
ah, a grey area

but usually on grey area, we would err more to NO rather than YES

maybe give LHDN a call
theberry
post Feb 3 2016, 11:43 AM

OK!
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QUOTE(mrhaw @ Feb 2 2016, 11:43 PM)
Hello guys I have a question.

I'm planning to start a small online business while still studying in uni.
I'm thinking of using platforms such as FB, Insta, LY and maybe Zalora.

I do know that I have to register with SSM as a Sole proprietor.

My question is that whether do i need to register for income tax? If so, what are the steps?

Thank you, any informative answers will be appreciated smile.gif
*
U get income = tax
Go Ssm counter ask
theberry
post Feb 3 2016, 11:46 AM

OK!
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QUOTE(lucifah @ Feb 3 2016, 10:29 AM)
ah, a grey area

but usually on grey area, we would err more to NO rather than YES

maybe give LHDN a call
*
Right.
kent_lau7
post Feb 5 2016, 02:36 PM

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is the tax rate any different from last year 2015?
Attached Image


http://www.hasil.gov.my/bt_goindex.php?bt_...5000&bt_sequ=11
GameFr3ak
post Feb 5 2016, 08:31 PM

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I'm unsure if this is the place to ask, sorry if it's not. Here goes.

I got 2 mails from LDHN regarding my tax for 2012 and 2013. Turns out I need to pay additional tax of 685 and 1424 for 2012 and 2013 respectively. It's weird cause based on my tax filing, those years I got tax rebates and they paid me back a couple hundreds. How come now I need to pay back them.

I'm lost now I don't know who to call and ask. Is this the process that I need to bring receipts and paperworks of the rebates that I filed for 2012 and 2013?
mamamia
post Feb 5 2016, 09:06 PM

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QUOTE(GameFr3ak @ Feb 5 2016, 08:31 PM)
I'm unsure if this is the place to ask, sorry if it's not. Here goes.

I got 2 mails from LDHN regarding my tax for 2012 and 2013. Turns out I need to pay additional tax of 685 and 1424 for 2012 and 2013 respectively. It's weird cause based on my tax filing, those years I got tax rebates and they paid me back a couple hundreds. How come now I need to pay back them.

I'm lost now I don't know who to call and ask. Is this the process that I need to bring receipts and paperworks of the rebates that I filed for 2012 and 2013?
*
Call lhdn to get their calculation on tax payable
GameFr3ak
post Feb 5 2016, 09:21 PM

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QUOTE(mamamia @ Feb 5 2016, 09:06 PM)
Call lhdn to get their calculation on tax payable
*
RM10,000 I thnk it's the faedah pembelian rumah. I bought a house within those years and I filed rebates based on those. hmm
mamamia
post Feb 5 2016, 09:59 PM

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QUOTE(GameFr3ak @ Feb 5 2016, 09:21 PM)
RM10,000 I thnk it's the faedah pembelian rumah. I bought a house within those years and I filed rebates based on those. hmm
*
Then mean they have check out u've yet to pay installment n now they recall back the relief u claim with tax penalty
GameFr3ak
post Feb 5 2016, 10:29 PM

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QUOTE(mamamia @ Feb 5 2016, 09:59 PM)
Then mean they have check out u've yet to pay installment n now they recall back the relief u claim with tax penalty
*
Sorry, I'm trying to understand your reply.. can you elaborate further? Also the amount that I owe them is not listed under "penalty" it's listed under what's left that I need to pay which stated under the RM10000 amount.

based on their website: -

"Interest expended to finance purchase of residential property. Relief of up to RM10,000 a year for three consecutive years from the first year the interest is paid."

Which I did claimed the relief for I think 3 years.....
rapple
post Feb 5 2016, 10:32 PM

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QUOTE(GameFr3ak @ Feb 5 2016, 10:29 PM)
Sorry, I'm trying to understand your reply.. can you elaborate further? Also the amount that I owe them is not listed under "penalty" it's listed under what's left that I need to pay which stated under the RM10000 amount.

based on their website: -

"Interest expended to finance purchase of residential property. Relief of up to RM10,000 a year for three consecutive years from the first year the interest is paid."

Which I did claimed the relief for I think 3 years.....
*
You can claim the relief up to Rm10k. Now the question is how much is your actual interest for those years? Did you check with bank total interest paid for those years?

Or you just claim the rm10k relief without checking?


GameFr3ak
post Feb 5 2016, 10:47 PM

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QUOTE(rapple @ Feb 5 2016, 10:32 PM)
You can claim the relief up to Rm10k. Now the question is how much is your actual interest for those years? Did you check with bank total interest paid for those years?

Or you just claim the rm10k relief without checking?
*
Every year also over 10k interest paid... sweat.gif
rapple
post Feb 5 2016, 10:52 PM

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QUOTE(GameFr3ak @ Feb 5 2016, 10:47 PM)
Every year also over 10k interest paid... sweat.gif
*

Just make sure is interest paid not the installment amount.

Show the housing loan statement to IRB when you meet them then case solved.

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