Hi, may i know what can be put under "Skim persaraan swasta dan anuiti tertangguh" tax relief ?

thanks

If I bought my phone in 2018 but I forgot to put in for tax reflief in income tax 2018
Can I save the receipt and put in under income tax 2019?
Or

phone buy in 2018 only allow to put in income tax 2018

Answer is the latter.

I guess laptop same right?
But laptop only every three years

Same goes to laptop or tablet (iPad category).
The 3 years ruling has long gone.
The Lifestyle Tax Relief has replaced the laptop tax relief.

Ah I see, Which mean we can claim it every year if I buy laptop every year.
Thanks for the info!

Recently I was filing my own income tax for 2018, and I begin to realise the negative effects the progressive income tax has on myself.
As my gross income increased over the years, I got taxed much more that I am basically taking home about the same amount between and after an increase in my salary. It appears that the current tax regime demotivates Malaysians to earn more for a better living. It doesn't help when the costs of living is getting higher day by day.

I understand that there are people who, after an increase in their income, continue drawing a similar amount of salary from the company, and by a separate agreement invoice their employer using a company registered under the employee's name, so the additional income would go into the company. In this way the employee's personal income will remain at a lower bracket, while the company, as the income is low, will get taxed less. Understandably with a registered Sdn Bhd, you ought to pay a certain amount to maintain the company's registration, accounts, returns, etc.

So here my question is:
1. At what gross income range it is sensible to create such a vehicle company, and
2. How much the costs (per year) are we looking at compliance costs, to maintain such a company legally, like secretary, accountant, returns, etc.?
3. What are the typical daily expenses we can take advantage of by using the company, like buying a car under company name, eating out, etc etc to maximise the use of the company for tax optimisation purpose?

I am asking on the basis that one is being employed full time and all income are derived from the employment only.

Since the personal income tax for taxable income ranging RM70k+ above will get 21%-28%, while company tax starts at 18% for first RM500k, it seems going Sdn Bhd for tax accounting purposes is sensible when we make more than say ~RM100k or so per year?

Yes, using a Sdn Bhd to receive income in excess of RM250k  pa, would save you about at least RM30k+/- tax a year
If you have enough people as directors in your own created Sdn Bhd to "distribute income" in directors fees , tax saving can be even more.

is like you have income eg RM300k, you only want to pay tax on 120k, remainder 180k you distribute to others to pay tax individually at lower brackets.
And quite alot of things can claim with Sdn Bhd.

Start a Sdn Bhd is easy, cost around RM2-3k, can buy from the shelf also.
Maintain it may cost RM3-5k, depending on how active is the accounts

But to close a Sdn Bhd is not easy, can cost you upto RM5k or more.

wonder for statutory amount from employment - we have to fill in only gaji kasar or with bonus?

Just a question on the bolded part, by "Distributing Income" in directors fees, I'm assuming you would not be able to get it back ?

And the question by 2387581, how much employment income is feasible to consider using a Sdn. Bhd. for tax planing ? Can 2 or more people form a Sdn. Bhd. and channel the income or is it only suitable for personal use.

May if allowance is deduct able in income tax?

Do i just minus the allowance amount from my total amount in the EA form?

What your EA form said?
Under Section B or Section G?

It's stated under 1 C

Hello,

Done some freelance design work over the internet with a foreign client and received payment via PayPal (I'm in Malaysia). Does the income need to be declared? I'm assuming yes, but some said no because of this line in the tax guide:

"With effect from the year of assessment 2004, income derived from outside Malaysia and received in Malaysia by a resident individual is exempted from tax."

Thanks

PSA:

e-Permohonan Pindaan BE for YA2018 is now available!