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

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HCTH
post Mar 5 2016, 11:42 PM

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Hi may i know does body checkup for parents can be a tax relief ?
MUM
post Mar 5 2016, 11:44 PM

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QUOTE(fairyboy @ Mar 5 2016, 11:24 PM)
But actually after finish my internship period, I'm going to find a permanent job/start a business. So, still hope can know more about the income tax thing.
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while waiting for responses...may I suggest you try read info and links form this site....to "know more about the income tax thing"
http://www.hasil.gov.my/bt_goindex.php?bt_...=5000&bt_sequ=1
MUM
post Mar 5 2016, 11:52 PM

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QUOTE(HCTH @ Mar 5 2016, 11:42 PM)
Hi may i know does body checkup for parents can be a tax relief ?
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hmm.gif from BE2010 guidebook...hope it explains it
http://www.hasil.gov.my/pdf/pdfam/BE2010_Guidebook_2.pdf


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benson92
post Mar 6 2016, 08:02 AM

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Hi sifus,

1. If I have some tax relief for books just fill in the amount I paid accordingly will do? And keep the receipt for 7 years?

2. For insurance under medical/life category, medical is only eligible for tax relief of 60% and life is 100% of the amount paid. Correct? Do i need to submit any statement to lhdn ? Or just keep them for 7 years will do?
T231H
post Mar 6 2016, 09:11 AM

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QUOTE(benson92 @ Mar 6 2016, 08:02 AM)
Hi sifus,

1. If I have some tax relief for books just fill in the amount I paid accordingly will do? And keep the receipt for 7 years?

2. For insurance under medical/life category, medical is only eligible for tax relief of 60% and life is 100% of the amount paid. Correct? Do i need to submit any statement to lhdn ? Or just keep them for 7 years will do?
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hmm.gif based on BE 2010 guidebook
for Q# 1, read item D8, page 11 (not just any books or amount)
for Q# 2, read item D17, page 15 & 16 (medical insurance??)
http://www.hasil.gov.my/pdf/pdfam/BE2010_Guidebook_2.pdf

record keeping duration.....
saw it here.
http://www.financesentral.com/2011/10/inco...t-how-long.html
http://www.nbc.com.my/blog/if-you-claim-ta...ts-for-7-years/

This post has been edited by T231H: Mar 6 2016, 09:14 AM
benson92
post Mar 6 2016, 09:37 AM

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QUOTE(T231H @ Mar 6 2016, 09:11 AM)
hmm.gif based on BE 2010 guidebook
for Q# 1, read item D8, page 11 (not just any books or amount)
for Q# 2, read item D17, page 15 & 16 (medical insurance??)
http://www.hasil.gov.my/pdf/pdfam/BE2010_Guidebook_2.pdf

record keeping duration.....
saw it here.
http://www.financesentral.com/2011/10/inco...t-how-long.html
http://www.nbc.com.my/blog/if-you-claim-ta...ts-for-7-years/
*
Yea medical insurance, normal how u guys fill in Har? Newbie here
T231H
post Mar 6 2016, 09:42 AM

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QUOTE(benson92 @ Mar 6 2016, 09:37 AM)
Yea medical insurance, normal how u guys fill in Har?  Newbie here
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hmm.gif see item D19, page 16 of the BE2010 guide book.
see HK 14, working sheet page 22 too

This post has been edited by T231H: Mar 6 2016, 09:49 AM
helob
post Mar 6 2016, 05:43 PM

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Try to do my e-filling for 2015.
Section on claim with regard to tax on dividends is without HK3 item/forms which has been included in the past years.
How to claim for overpaid tax on dividends for 2015 e-filling?
Any help would be much appreciated.
Thank you

This post has been edited by helob: Mar 6 2016, 05:47 PM
T231H
post Mar 6 2016, 07:21 PM

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QUOTE(helob @ Mar 6 2016, 05:43 PM)
Try to do my e-filling for 2015.
Section on claim with regard to tax on dividends is without HK3 item/forms which has been included in the past years.
How to claim for overpaid tax on dividends for 2015 e-filling?
Any help would be much appreciated.
Thank you
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I think it got to do with the "single tier tax system"
read out that topic for details....I found some on google....(more in google)

Shareholders dividend under the single tier tax system (STS)
http://voyager8.blogspot.my/2010/02/shareh...ingle-tier.html

http://bursastory.blogspot.my/2011/12/sing...or-bad-for.html

http://www.micpa.com.my/micpastudent/docum...e1-10112008.pdf

iwubpreve
post Mar 7 2016, 08:46 AM

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hi my fellow forummer,

wanna ask what is the limit of "approved donation, gift, contribution"?
SUSDavid83
post Mar 7 2016, 08:48 AM

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QUOTE(iwubpreve @ Mar 7 2016, 08:46 AM)
hi my fellow forummer,

wanna ask what is the limit of "approved donation, gift, contribution"?
*
Up to 7% of your aggregate annual income.
iwubpreve
post Mar 7 2016, 09:06 AM

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QUOTE(David83 @ Mar 7 2016, 08:48 AM)
Up to 7% of your aggregate annual income.
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weird. I got more than 7%. so I plug in the actual contribution figure. but seems like it no limit. still deduct more than 7% on the "taxable amount"
SUSDavid83
post Mar 7 2016, 09:11 AM

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QUOTE(iwubpreve @ Mar 7 2016, 09:06 AM)
weird. I got more than 7%. so I plug in the actual contribution figure. but seems like it no limit. still deduct more than 7% on the "taxable amount"
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7% of your aggregate income != 7% of your taxable income
iwubpreve
post Mar 7 2016, 09:19 AM

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QUOTE(David83 @ Mar 7 2016, 09:11 AM)
7% of your aggregate income != 7% of your taxable income
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ya I know.

I mean example like this, my aggregate income is 50k
my contribution is 5000

Aggregate Income: 50,000
Approved contribution: 5000
Total Income: 45,000


then go to next page

tax relief: 10,000

Total chargeable income: 35,000

For the approved contribution, I thought I just key in actual amount they will auto cap?
SUSDavid83
post Mar 7 2016, 09:26 AM

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QUOTE(iwubpreve @ Mar 7 2016, 09:19 AM)
ya I know.

I mean example like this, my aggregate income is 50k
my contribution is 5000

Aggregate Income: 50,000
Approved contribution: 5000
Total Income: 45,000
then go to next page

tax relief: 10,000

Total chargeable income: 35,000

For the approved contribution, I thought I just key in actual amount they will auto cap?
*
Guess like the system is not that smart enough and no validation rule is set for that entry.

It could be a trap set! biggrin.gif

This post has been edited by David83: Mar 7 2016, 09:26 AM
iwubpreve
post Mar 7 2016, 09:28 AM

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QUOTE(David83 @ Mar 7 2016, 09:26 AM)
Guess like the system is not that smart enough and no validation rule is set for that entry.

It could be a trap set! biggrin.gif
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mean need ownself adjust to 7%? submitted already mang sweat.gif I quickly check back 2014. same, is 7.8%. no autocap. consider violate the rule?
SUSDavid83
post Mar 7 2016, 09:40 AM

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QUOTE(iwubpreve @ Mar 7 2016, 09:28 AM)
mean need ownself adjust to 7%? submitted already mang sweat.gif I quickly check back 2014. same, is 7.8%. no autocap. consider violate the rule?
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I believe so because in e-BE, there's no caution pop up not with the "!" but you'll know this in the Nota Penerangan (PDF file).

I also tried to experiment myself just now.
fkinmeng
post Mar 7 2016, 12:13 PM

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need help in explaining this:

ANY DISPOSAL OF SHARES IN A REAL PROPERTY COMPANY AND / OR REAL PROPERTY UNDER REAL PROPERTY GAINS TAX ACT 1976

it meants reits?
deShinyDevil
post Mar 7 2016, 01:29 PM

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Hi I have a question about the tax deduction rate.
For example, given a gross earning of a month (plus annual bonus, before elf deduction) is 10k. The monthly scheduler tax deduction is about 700. How is the tax deduction being calculated?
SUSDavid83
post Mar 7 2016, 01:34 PM

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QUOTE(deShinyDevil @ Mar 7 2016, 01:29 PM)
Hi I have a question about the tax deduction rate.
For example, given a gross earning of a month (plus annual bonus, before elf deduction) is 10k. The monthly scheduler tax deduction is about 700. How is the tax deduction being calculated?
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There's a PCB table to serve as guideline.

It usually takes into consideration of EPF deduction only. It may also require info like whether you're single or marreid and also how many children you have.

But do take note that, if that particular month, you receive bonus (not allowance) that not as your usual monthly drawing salary, there's another method to recalculate the PCB deduction on that particular with taking into account the bonus.

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