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

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MUM
post Mar 7 2023, 01:14 PM

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QUOTE(stormaker @ Mar 7 2023, 01:11 PM)
Anywhere we can download the Unifi receipt for the whole year ?
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while waiting for value added responses,
maybe you can try this

https://home.unifi.com.my/sites/default/fil.../e-Bill_FAQ.pdf

How can I get my e-Bill?
contestchris
post Mar 7 2023, 01:15 PM

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QUOTE(Ramjade @ Mar 7 2023, 12:57 PM)
The 2500+2500 was because of covid. Expect them to end it soon.
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YA2023 no more already...it's been confirmed.
Xitox
post Mar 7 2023, 01:17 PM

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QUOTE(stormaker @ Mar 7 2023, 01:11 PM)
Anywhere we can download the Unifi receipt for the whole year ?
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You can email help@tm.com.my ask for annual statement. Provide your account no, name, and ic no.
Bonjitettei
post Mar 7 2023, 01:17 PM

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If I got income from forex trading, do i need to include in my filing also?
MUM
post Mar 7 2023, 01:19 PM

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QUOTE(Bonjitettei @ Mar 7 2023, 01:17 PM)
If I got income from forex trading, do i need to include in my filing also?
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how often do you trades your holdings?
Xitox
post Mar 7 2023, 01:21 PM

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Hello guys, my wife's former employer has refused to provide an EA form and EPF contributions were only made during the last 2 months of her employment. What is the appropriate way for my wife to declare her income?
stormaker
post Mar 7 2023, 01:22 PM

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QUOTE(MUM @ Mar 7 2023, 01:14 PM)
while waiting for value added responses,
maybe you can try this

https://home.unifi.com.my/sites/default/fil.../e-Bill_FAQ.pdf

How can I get my e-Bill?
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Thanks, but I need the payment receipt not bill.

QUOTE(Xitox @ Mar 7 2023, 01:17 PM)
You can email help@tm.com.my ask for annual statement. Provide your account no, name, and ic no.
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Thanks, will try to e-mail them.
Ramjade
post Mar 7 2023, 01:24 PM

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QUOTE(Bonjitettei @ Mar 7 2023, 01:17 PM)
If I got income from forex trading, do i need to include in my filing also?
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If you got main job, don't bother with Forex trading declaratuon. If your main income is from trading Forex then no choice need to declare lo.
MUM
post Mar 7 2023, 01:25 PM

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QUOTE(Xitox @ Mar 7 2023, 01:21 PM)
Hello guys, my wife's former employer has refused to provide an EA form and EPF contributions were only made during the last 2 months of her employment. What is the appropriate way for my wife to declare her income?
*
A quick Google search, however, seems to bring up old threads (such as this or this) with complaints about ex employers who aren’t sending EA forms to former employees.
Your first recourse should be to reach out to the organisation’s HR department, as it is legally mandatory to prepare the EA form for all employees by the end of February, under the Income Tax Act 1967 in Malaysia.

If you somehow can’t get your hands on the EA form from your previous employers, you can still file your taxes for income (and other relevant contributions) received during your previous job.
You’ll need to manually combine all details via salary slips and other statements (EPF, SOCSO, MTD) to complete the full year’s assessment — pay close attention to avoid miscalculations.

How to File Your Taxes in Malaysia if You Changed Jobs Last Year
https://althr.my/resources/how-to-file-taxe...-year-2021-2022

Bonjitettei
post Mar 7 2023, 01:32 PM

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QUOTE(Ramjade @ Mar 7 2023, 01:24 PM)
If you got main job, don't bother with Forex trading declaratuon. If your main income is from trading Forex then no choice need to declare lo.
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Yes, I do have main job. If I total up my yearly P&L from my trading, it's around 30-40% from my yearly salary.

E.g.; if my yearly salary is RM100k, my trading income ~30 - 40k

Since my main job salary is more than trading income, no need to declare right.
Ramjade
post Mar 7 2023, 01:35 PM

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QUOTE(Bonjitettei @ Mar 7 2023, 01:32 PM)
Yes, I do have main job. If I total up my yearly P&L from my trading, it's around 30-40% from my yearly salary.

E.g.; if my yearly salary is RM100k, my trading income ~30 - 40k

Since my main job salary is more than trading income, no need to declare right.
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For me, I won't declare. I only declare my active income + my part time job. That's all. This is because capital gain tax and dividends are not tax.

This post has been edited by Ramjade: Mar 7 2023, 01:35 PM
MUM
post Mar 7 2023, 02:07 PM

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QUOTE(Bonjitettei @ Mar 7 2023, 01:32 PM)
Yes, I do have main job. If I total up my yearly P&L from my trading, it's around 30-40% from my yearly salary.

E.g.; if my yearly salary is RM100k, my trading income ~30 - 40k

Since my main job salary is more than trading income, no need to declare right.
*
perhaps you could read more about "Badges of Trade" terms and scenario...
then perhaps you could get better understanding about it...
ronnie
post Mar 7 2023, 02:14 PM

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QUOTE(Bonjitettei @ Mar 7 2023, 01:32 PM)
Yes, I do have main job. If I total up my yearly P&L from my trading, it's around 30-40% from my yearly salary.

E.g.; if my yearly salary is RM100k, my trading income ~30 - 40k

Since my main job salary is more than trading income, no need to declare right.
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For me, I think you need to declare BOTH source of income.
RM100k salary
RM30k trading (if it's regular)
total income RM130k

This post has been edited by ronnie: Mar 7 2023, 02:17 PM
Xitox
post Mar 7 2023, 02:34 PM

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QUOTE(MUM @ Mar 7 2023, 01:25 PM)
A quick Google search, however, seems to bring up old threads (such as this or this) with complaints about ex employers who aren’t sending EA forms to former employees.
Your first recourse should be to reach out to the organisation’s HR department, as it is legally mandatory to prepare the EA form for all employees by the end of February, under the Income Tax Act 1967 in Malaysia.

If you somehow can’t get your hands on the EA form from your previous employers, you can still file your taxes for income (and other relevant contributions) received during your previous job.
You’ll need to manually combine all details via salary slips and other statements (EPF, SOCSO, MTD) to complete the full year’s assessment — pay close attention to avoid miscalculations.

How to File Your Taxes in Malaysia if You Changed Jobs Last Year
https://althr.my/resources/how-to-file-taxe...-year-2021-2022
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Thanks bro, noted on that thumbup.gif
1mr3tard3d
post Mar 7 2023, 03:04 PM

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QUOTE(cybpsych @ Mar 7 2023, 12:20 PM)
no idea. i assume no further requests = no further action

not like I want to keep digging lhdn for answers laugh.gif
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when they sent you a letter for audit
they will also send you a letter when it has been completed
» Click to show Spoiler - click again to hide... «


QUOTE(Jack&Guild @ Mar 7 2023, 12:40 PM)
Yep I am officer under pension scheme. For me to enjoy tax relief YA2023, maybe I should self contribute RM7k to the max limit for epf this time.
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while you may claim life insurance up to RM 7k as a pensionable officer but
EPF relief is still being restricted to RM 4,000 for voluntary contribution
» Click to show Spoiler - click again to hide... «


QUOTE(Xitox @ Mar 7 2023, 01:21 PM)
Hello guys, my wife's former employer has refused to provide an EA form and EPF contributions were only made during the last 2 months of her employment. What is the appropriate way for my wife to declare her income?
*
while i agree to MUM's proposal -
QUOTE
you can still file your taxes for income (and other relevant contributions) received during your previous job. You’ll need to manually combine all details via salary slips and other statements (EPF, SOCSO, MTD) to complete the full year’s assessment

the problem is, during LHDN audit, they will still request for EA form as supporting document
Drian
post Mar 7 2023, 03:16 PM

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just curious

for 2023(2024 tax assesment), do we still have the rm2500 lifestyle relief?

Jack&Guild
post Mar 7 2023, 03:16 PM

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QUOTE(1mr3tard3d @ Mar 7 2023, 03:04 PM)
when they sent you a letter for audit
they will also send you a letter when it has been completed
» Click to show Spoiler - click again to hide... «

while you may claim life insurance up to RM 7k as a pensionable officer but
EPF relief is still being restricted to RM 4,000 for voluntary contribution
» Click to show Spoiler - click again to hide... «

while i agree to MUM's proposal -
the problem is, during LHDN audit, they will still request for EA form as supporting document
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Correct for YA2022 max is RM4k self contribution to epf. For nx year YA2023, self contribution expanded where quota for life insurance RM3k can also include self contribution during recent bajet 2023. Anyhow this will be clearer once the explanatory note is release hopefully year end.
confusedway
post Mar 7 2023, 03:44 PM

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QUOTE(Jack&Guild @ Mar 7 2023, 03:16 PM)
Correct for YA2022 max is RM4k self contribution to epf. For nx year YA2023, self contribution expanded where quota for life insurance RM3k can also include self contribution during recent bajet 2023. Anyhow this will be clearer once the explanatory note is release hopefully year end.
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Usually malaysia tax system is let you enjoy 1st and later audit you and penalty you...

means they will only release the explanatory note for YA2023 when it is 1st Mar 2024... u can see that there is nothing really publish regarding the 2023 budget (maybe haven't pass by parliament) but so far if i remember correctly even up to 31st Dec 2022 nothing really came out for YA2022 tax information... not even the tax rate for individual (even there is nothing change for YA2021 & YA2022) but should all these information be clean and clear so that we tax payer can plan accordingly instate to guessing here and there and pray hard hard to hope that the expenses are claimable...
Jack&Guild
post Mar 7 2023, 03:51 PM

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QUOTE(confusedway @ Mar 7 2023, 03:44 PM)
Usually malaysia tax system is let you enjoy 1st and later audit you and penalty you...

means they will only release the explanatory note for YA2023 when it is 1st Mar 2024... u can see that there is nothing really publish regarding the 2023 budget (maybe haven't pass by parliament) but so far if i remember correctly even up to 31st Dec 2022 nothing really came out for YA2022 tax information... not even the tax rate for individual (even there is nothing change for YA2021 & YA2022) but should all these information be clean and clear so that we tax payer can plan accordingly instate to guessing here and there and pray hard hard to hope that the expenses are claimable...
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True they shld hv publish early of the year so that public like us know what to expect and plan accordingly. Its either we over claim relief or we under claim relief, which both create trouble. What we can do is actively asking and checking so that we won miss or make mistake.
romuluz777
post Mar 7 2023, 03:55 PM

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If its a new relief that you are claiming for the 1st time, its highly likely will kena audit or asked to submit receipts/invoices.
After that if one consistently claims the same relief, its smooth sailing.


 

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