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

klthor
post Jan 2 2019, 02:11 PM

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QUOTE(MeToo @ Jan 2 2019, 01:02 PM)
This is what I use, whatever is in the EA.

When you actually get the physical "money" is not so important
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yep, if you receive the money but its not in EA. walah, no need to declare hahah.
MeToo
post Jan 2 2019, 02:36 PM

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QUOTE(klthor @ Jan 2 2019, 02:11 PM)
yep, if you receive the money but its not in EA. walah, no need to declare hahah.
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For sure I wont declare.

I alrdy giving the govt a Toyota yearly... I dont think I'm getting back equal benefits from them
klthor
post Jan 2 2019, 02:37 PM

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QUOTE(MeToo @ Jan 2 2019, 02:36 PM)
For sure I wont declare.

I alrdy giving the govt a Toyota yearly... I dont think I'm getting back equal benefits from them
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think of it as giving back to the society smile.gif thanks for your contribution to the country kekeke....
w3sley
post Jan 2 2019, 08:01 PM

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QUOTE(klthor @ Jan 2 2019, 12:55 PM)
it depends what is written in your EA form. if your December salary paid in 3rd Jan 2019, is it YA2018 or YA2019? so it all boils down to which month payslip and what is written in EA form. Because employer has to fill up Borang E to submit to LHDN and the amount you submit to LHDN has to tally.
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QUOTE(MeToo @ Jan 2 2019, 01:02 PM)
This is what I use, whatever is in the EA.

When you actually get the physical "money" is not so important
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Thanks @klthor and @MeToo. Well noted.haha

one_cent
post Jan 9 2019, 02:06 PM

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Hi All sifus, this is my 1st time filling income tax. May i know how can i register?
Jack&Guild
post Jan 9 2019, 03:54 PM

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QUOTE(w3sley @ Dec 31 2018, 10:52 AM)
Any answers for this#? I am curious too..hmmm
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Already checked with IRB. The lady said as long as the money goes into your account after 1st jan 2019, it considers as 2019 income. Be it company bonus for 2018 or salary for 2018. So have to declare in the 2019 tax.
besiegetank
post Jan 9 2019, 06:26 PM

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QUOTE(one_cent @ Jan 9 2019, 02:06 PM)
Hi All sifus, this is my 1st time filling income tax. May i know how can i register?
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You have to register online at LHDN or go to any LHDN branches.
MillkTea93
post Jan 16 2019, 06:49 PM

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First time filling income tax, my total 2018 income need calculate after deduct from epf amount or before deduct
David83
post Jan 16 2019, 06:54 PM

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QUOTE(MillkTea93 @ Jan 16 2019, 06:49 PM)
First time filling income tax, my total 2018 income need calculate after deduct from epf amount or before deduct
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Gross income.
Do you have EA statement?
Use that to guide you.
MUM
post Jan 16 2019, 06:55 PM

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QUOTE(MillkTea93 @ Jan 16 2019, 06:49 PM)
First time filling income tax, my total 2018 income need calculate after deduct from epf amount or before deduct
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while waiting for value added responses....
I googled and found this.....

Do I Need to Pay Income Tax?
https://ringgitplus.com/en/blog/Personal-Fi...18-YA-2017.html

https://www.imoney.my/articles/income-tax-g...-filing-guide-2

https://www.google.com/search?source=hp&ei=...i10.L3tfDRyGcCE


Azurika
post Jan 18 2019, 04:44 AM

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Hey guys, is there a place or any sifu here can advice what is deductable for a sole prop ? I was told that certain things such as buying a laptop/tech hardware for work/campaign would classify under your capital, hence is not deductible in your revenue sheet when audited. What about things such as travel expenses (hotel/flight/petrol) , allowance which are part of required cost to perform my task. I know I can pay salary/contracts to workers/3rd party if I were to engage any.

I will be contracting 2-3 people to assist with a 6 figure campaigns that I was awarded over the spend of 12 months. Didnt want to go the sdn bhd route as this may just be a 1 off thing.
MUM
post Jan 18 2019, 07:21 AM

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QUOTE(Azurika @ Jan 18 2019, 04:44 AM)
Hey guys, is there a place or any sifu here can advice what is deductable for a sole prop ? I was told that certain things such as buying a laptop/tech hardware for work/campaign would classify under your capital, hence is not deductible in your revenue sheet when audited. What about things such as travel expenses (hotel/flight/petrol) , allowance which are part of required cost to perform my task. I know I can pay salary/contracts to workers/3rd party if I were to engage any.

I will be contracting 2-3 people to assist with a 6 figure campaigns that I was awarded over the spend of 12 months. Didnt want to go the sdn bhd route as this may just be a 1 off thing.
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while waiting for value added responses,
I googled and found this....
hope it can provide you with some info while you wait...

UNDERSTANDING TAX
https://smeinfo.com.my/managing-your-financ...derstanding-tax

i think, (just thinking only ya) after looking at that article....
your laptop/tech hardware for work maybe under Capital Allowance,
your hotel/flight/petrol if to qualified for business expenses have to qualify certain criteria

just a note of caution....one cannot be a qualified tax related personal by just reading articles or listening to comments in the forums.....it is your business, your tax related matters which would be answerable to the LHDN....thus it is best to seek qualified advises from one qualified tax accountant........

This post has been edited by MUM: Jan 18 2019, 07:25 AM
enkil
post Jan 19 2019, 02:47 PM

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Is the sspn dedectibles automatic?
David83
post Jan 19 2019, 03:17 PM

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QUOTE(enkil @ Jan 19 2019, 02:47 PM)
Is the sspn dedectibles automatic?
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What you meant by automatic?
enkil
post Jan 19 2019, 03:18 PM

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QUOTE(David83 @ Jan 19 2019, 03:17 PM)
What you meant by automatic?
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As in the calculations by IRB in the forms. Or do i have to furnish all the receipts
David83
post Jan 19 2019, 03:49 PM

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QUOTE(enkil @ Jan 19 2019, 03:18 PM)
As in the calculations by IRB in the forms. Or do i have to furnish all the receipts
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PTPTN will provide you with the annual statement.
You need to show that in case being audited.
prince_mk98
post Jan 20 2019, 09:09 AM

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QUOTE(Sunny zombie @ Jun 26 2015, 11:03 PM)
Capital allowance can claim on hire purchase amount paid during the year

Eg. 50,000 loan for 5 years, 10,000 is int, 40,000 is principal

Every year pay 10,000, only can claim ca on 8000, I.e principal portion

Next year make payment, ca claim based on payment made again
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can claim tax relief on car intrest paid to bank ???
MUM
post Jan 20 2019, 09:26 AM

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QUOTE(prince_mk98 @ Jan 20 2019, 09:09 AM)
can claim tax relief on car intrest paid to bank ???
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while waiting for value added responses....
I googled and found this.....

.....seems like this is not so direct answers....it had to fulfill certain criteria to claim ...
hope you can find the answers there....

http://www.ctim.org.my/download.asp?cat=14...%20(DKDFEE).2qs


enkil
post Jan 20 2019, 01:55 PM

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QUOTE(David83 @ Jan 19 2019, 03:49 PM)
PTPTN will provide you with the annual statement.
You need to show that in case being audited.
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Thanks thumbsup.gif
Azurika
post Jan 22 2019, 06:05 AM

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QUOTE(MUM @ Jan 18 2019, 07:21 AM)
while waiting for value added responses,
I googled and found this....
hope it can provide you with some info while you wait...

UNDERSTANDING TAX
https://smeinfo.com.my/managing-your-financ...derstanding-tax

i think, (just thinking only ya) after looking at that article....
your laptop/tech hardware for work maybe under Capital Allowance,
your hotel/flight/petrol if to qualified for business expenses have to qualify certain criteria

just a note of caution....one cannot be a qualified tax related personal by just reading articles or listening to comments in the forums.....it is your business, your tax related matters which would be answerable to the LHDN....thus it is best to seek qualified advises from one qualified tax accountant........
*
thanks for the feedback. I did check with a friend who was in tax audit. End of the day, its as you said, LHDN has the final say .. its ur justification/arguement on expenses related to the business.
Was checking how the sifu's here manage such expenses..

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