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Income Tax Issues v4, Scope: e-BE and eB only
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Belphegor
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Jan 26 2016, 12:21 PM
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Hi, would like to know what's the minimum annual salary that will get income tax? And does that inclusive of bonus as well?
Bonus can get tax and deduction of EPF & socso too?
Checked website but there are many versions. Need someone who are experienced to clarify this to me.
Thank you in advance.
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Belphegor
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Jan 26 2016, 02:03 PM
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QUOTE(cherroy @ Jan 26 2016, 01:19 PM) Bonus surely is a taxable income and "EPF"ed as well. EPF got tax relief which can be claimed up to Rm6k combined with life insurance. Socso, currently no, next year YA 2016, then yes, up to Rm250. Thank you. What about the minimum annual salary?
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Belphegor
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Jan 26 2016, 02:20 PM
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QUOTE(cherroy @ Jan 26 2016, 02:15 PM) There is no such thing of "minimum" annual salary. Income tax got a table. You added up your total taxable income (monthly salary + bonus + BIK) as your gross taxable income, then deducted out the relief you entitled, personal, EPF, etc. then whatever left is the net chargeable income and then you find out from the table how much need to pay for such a chargeable income. If below the threshold then don't need to pay, generally about 30K+ above, it will vary as each person relief status may not the same. A good website to read upon for newbie in tax. https://ringgitplus.com/en/blog/Personal-Fi...Guide-2015.htmlmany thanks!  Allowance, incentive, commissions not considered right?
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Belphegor
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Jan 26 2016, 02:42 PM
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QUOTE(cherroy @ Jan 26 2016, 02:35 PM) The above mentioned are taxable income which must be included. Even car given by company for you to drive, you need to include it as BIK into your taxable income, there is a list of table how much BIK based on car value given, eg. 3.6k as BIK for car valued 75~100k, which will be added into your gross/chargeable income. Same with mobile phone bill, if your company pay your mobile phone bill as benefit given to employee, you need to add back into your taxable income as BIK What about phone allowance? That include as well?
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Belphegor
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Apr 26 2016, 11:27 AM
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I have my EA form missing. Do you guys know where can I reprint it?
Thank you in advance.
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Belphegor
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Apr 26 2016, 12:52 PM
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QUOTE(nexona88 @ Apr 26 2016, 12:36 PM) EA or BE ??  EA form. Got it from company but I lost it. :/
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