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Income Tax Issues v4, Scope: e-BE and eB only
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rapple
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 Jan 18 2017, 08:01 AM
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QUOTE(droll @ Jan 18 2017, 06:21 AM) Quick question. I am owner and director of my own sdn bhd company. Am i allowed to make claims for optical (my own) and medical (for direct family member e.g. Child, that i pay bills for) against the sdn bhd? So the claim is reimbursed to me and reduces taxable income of the sdn bhd. No, unless you declare it as part of your income as well. If you didn't declare in your personal income tax and still put it in your S/B, most likely your tax agent will add back this to the profit. QUOTE
If the employee has control over his employer, the allowances / perquisites / gifts / benefits received by him is taken to be part of his employment income and subject to tax.
‘Control over his employer’ means:
(a) for a company, the power of the employee to secure, by means of the holding of shares or the possession of voting power in or in relation to that or any other company, or by virtue of powers conferred by the articles of association or other document regulating that or any other company, that the affairs of the first mentioned company are conducted in accordance with the wish of the employee;
(b) for a partnership, the employee is a partner of the employer; or
© for a sole proprietor, the employee and the employer is the same person. source: http://lampiran.hasil.gov.my/pdf/pdfam/Exp...tes_E2016_2.pdf |
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rapple
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Jan 18 2017, 08:39 AM
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QUOTE(droll @ Jan 18 2017, 08:29 AM) Tq so much. So if let's say my wife is also an employee of the company (but holds no shares and is not director) then she can claim? Because she has no cobtrol over thr company. Yes. |
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rapple
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Jan 18 2017, 05:40 PM
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QUOTE(spreeeee @ Jan 18 2017, 03:16 PM) open a sspn account for kid last year Nov2016, pumped in 6K - so that coming income tax declaration can relief another 6k. question, when is the best time in between Jan-April to withdraw out all 6k, so that it is still eligible/qualified? After 31st Dec 2016 you can withdraw anytime and still eligible for the 6k tax relief for YA2016. |
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rapple
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Jan 18 2017, 05:48 PM
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QUOTE(spreeeee @ Jan 18 2017, 05:45 PM) sure? coz the ptptn officer said better wait till at least month april only withdraw.. but i may need to use the cash anytime now..  It make no sense for them to show a 2017 withdrawal on a 2016 Tax Relief Statement.. I have already withdraw mine and even get the tax relief statement.. But now SSPN account doesn't show the option to print the tax relief statement.. |
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rapple
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Jan 19 2017, 11:19 AM
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QUOTE(donhay @ Jan 19 2017, 10:07 AM) Me and wife recently rented out our second condo for 3 months, the condo is under both of our name, and still in mortgage with the bank. May I know how we gonna filed our income tax? Both of us must file right? shared the profit/loss with your wife. |
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rapple
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Jan 23 2017, 01:16 PM
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The "Maklumat Pelepasan Diri" is updated in LHDN system. 
Lifestyle Relief, Breastfeeding equipment relief and pre-school relief. |
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rapple
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Jan 23 2017, 06:11 PM
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QUOTE(Hansel @ Jan 23 2017, 06:10 PM) Frankly,... do tax authorities really count day-by-day to gauge if you've really stayed for 183 Days OR MORE in a particular country ? Eg,... for Msia, does the LHDN really do this meticulously ? Think they can always counter check with the records of immigration department.. |
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rapple
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Jan 30 2017, 12:07 PM
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QUOTE(MiNoRiT @ Jan 30 2017, 10:28 AM) Hi all, may I know when would I be able to submit my 2016 tax filing? Doesn't seem to be able to file it as I just login and there's no 2016 filing button to click on. Should be able to do it in March. QUOTE(MiNoRiT @ Jan 30 2017, 10:37 AM) What's the requirement (in term of period) on having the 6k in the savings of SSPN? Would I be eligible even if I put it in on (let say 29 Dec) and take it out in Jan (the following year) and still enjoy the tax relief? For yourself no tax relief is given. For your child then yes. Its better to put in earlier rather than on the last few days of the year. You never know how long it takes to process. |
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rapple
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Feb 4 2017, 05:07 PM
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QUOTE(MNet @ Feb 4 2017, 02:30 PM) How to declare the rental income? You can find this "Pendapatan berkanun sewa" in both Form B / BE |
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rapple
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Feb 5 2017, 09:44 AM
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QUOTE(MNet @ Feb 5 2017, 09:44 AM) The tax rate will be combined with my salary? Let say my salary is 50k per year Rental income is 10k per year so my tax bracket will be 16% ? Yes |
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rapple
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Feb 15 2017, 08:26 AM
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QUOTE(ronnie @ Feb 15 2017, 12:04 AM) For the SOCSO Tax Relief (max RM250 per year), do we multiply SOCSO Employee contribution x 12 ? Yes. QUOTE(David83 @ Feb 15 2017, 08:15 AM) Yes. The 2016 EA has the SOCSO contribution amount. |
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rapple
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Feb 15 2017, 08:31 AM
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QUOTE(Masculine @ Feb 15 2017, 08:30 AM) Hi sifus, I'm a bit confused. Do I need to declare my yearly bonus as a taxable income or not? Your employer will put it in your EA form. |
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rapple
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Feb 15 2017, 08:35 AM
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QUOTE(Masculine @ Feb 15 2017, 08:34 AM) That means it is taxable right?? Yes. |
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rapple
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Feb 17 2017, 12:50 PM
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QUOTE(Tankimher @ Feb 17 2017, 12:17 AM) Hi may I ask for sole proprietier can I just submit my tax online ( e filling ) I already got my password and OG number . For my case which want I need to click (there are so many options to choose in hasil web and I'm blur . Coz I've check for 2016 want still can't pay . Form B usually starts on 1st April |
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rapple
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Feb 23 2017, 03:10 PM
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QUOTE(Avangelice @ Feb 23 2017, 02:27 PM) [attachmentid=8518164] anyone heard of this issue with life insurance and kwsp https://ef.hasil.gov.my/eKemaskiniPP/pelepasan.aspxGo to PCB calculator and you will find every tax relief clearly stated. I think Maklumat Pelepasan is for you to key in additional tax relief that is not deducted from your salary.. think because EA would have cover the EPF and SOCSO contributions.. |
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rapple
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Feb 27 2017, 10:55 AM
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QUOTE(blurblursam @ Feb 27 2017, 09:37 AM) Hi sifus here, I want to ask my children insurance is with my husband name! Can I claim tax relief under my income tax? Nope. |
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rapple
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Feb 27 2017, 12:10 PM
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QUOTE Inland Revenue Board of Malaysia (IRBM) would like to inform that the submission of Income Tax Return Form (ITRF) for Year of Assessment 2016 via e-Filing for Forms E, BE, B, BT, P, M, MT and TF can be furnished commencing from 1 March 2017. http://www.hasil.gov.my/bt_goindex.php?bt_...t=1&bt_sequ=336 |
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rapple
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Feb 28 2017, 05:21 PM
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QUOTE(alvinfks78 @ Feb 28 2017, 04:53 PM) Hey SOCSO got tax deduction? how to find out how much total contribution for the year? Check your EA |
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rapple
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Mar 1 2017, 12:36 PM
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QUOTE(Refuzed @ Mar 1 2017, 12:10 PM) Guys, Is there any difference in income tax deduction and/or filing after we got married? Both me and my wife are working and I don't think I updated my status at LHDN as 'married' since 2015. Separate assessment no difference Joint assessment if wife is not working you have another 4K relief. |
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rapple
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Mar 3 2017, 01:31 PM
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QUOTE(bagok @ Mar 3 2017, 01:24 PM) Hi How do you calculate Pendapatan berkanun sewa under e-BE. My case : Monthly Rental = 1500 Rental Collection from August to Dec = 7500 Deposit = 3750 Total Collection = 11250 - House Maintenance + Sink Fund + Quit Rent + water & electric + Insurance = 3045 House Loan Interest for 5 Month = 7070 ( 1414 interest / month ) Pendapatan berkanun sewa i declare = 11250 - 7070 - 3045 = 1135 Correct or not ? Deposit is not an income. What kind of insurance? Only interest is deductible, principal is not. Add: You pay your tenant water & electricity bills? If is not paid by you, then it's not your expenses. This post has been edited by rapple: Mar 3 2017, 01:33 PM |
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