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

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familyfirst
post Apr 8 2016, 02:15 PM

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From experience, anyone received their money but called up later for queries and had to return back the $$$ before?
familyfirst
post Jul 12 2016, 05:10 PM

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QUOTE(aromachong @ Jul 12 2016, 10:34 AM)
my friend bought a house 1 million ++ with cash

when interview by LHDN - My friend show LHDN lottery ticket she won from TOTO 4D

tricky part - she bought the 0.5 million x 2 pieces cheque from TOTO 4D manager with 3% upfront charges.

Well it's for discussion... mod/admin may delete it if you feel it's deem as loopholes to avoid tax

bearbearwong for his POV
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I dont quite catch the point abt the loophole.
familyfirst
post Jul 13 2016, 04:14 PM

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QUOTE(limeuu @ Jul 13 2016, 07:15 AM)
Lottery winnings are not taxable....so one way if avoiding paying tax on undeclared income is to 'buy' a winning lottery ticket from someone....at a premium....
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QUOTE(aromachong @ Jul 13 2016, 08:10 AM)
sharp mind. there are more other ways but im not willing to share here.. stricken moderator team austere in this case
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Oh i c !!!!

Aromachong, please PM for me to teach me more options please!!
familyfirst
post Nov 11 2016, 08:40 AM

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QUOTE(mastedo @ Nov 10 2016, 05:57 PM)
Hi.

Can anyone help me?
My brother now working with my father.
Small business.
Now my brother want to buy car.
My father doesnt have filled any income tax.
My father just paid my brother salary by cash. Means no KWSP.

How can he apply the loan?

Any other why he can apply?
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Got any FD that you can pledge to the bank maybe?

Or if buy used car, can get financing from the used car dealer directly?
familyfirst
post Feb 28 2017, 09:20 AM

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QUOTE(drbone @ Feb 27 2017, 11:20 PM)
I just found out my fiancé forgot to submit her income tax claim last year , any idea what I should do to help her ? She submitted her tax claims 2 yrs ago .
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I would suggest she go personally to the IRB office and inform them. There is nothing to be afraid of. They are really nice and polite people. Perhaps will be fined for late submission thats all. Get it done asap.
familyfirst
post Feb 28 2017, 10:29 AM

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QUOTE(sbd18 @ Feb 28 2017, 09:41 AM)
Just curious. Any of you received overpaid tax from LHDN for 2016?

I have yet to do my taxes as it only goes active 1st March however LHDN banked in an amount 5 days ago and today I received an email stating for overpaid taxes.
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Wow. Windfall lor. Haha. Is the amount refunded to you the same as what you expect after your submission later on?
familyfirst
post Mar 3 2017, 09:20 AM

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There use to be a "save draft" function - is it no longer there?
familyfirst
post Mar 6 2017, 10:05 AM

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Slightly higher amount to be claimed back from LHDN this year due to some extra relief. But still wish taxes were at least another 2% lower.
familyfirst
post Mar 7 2017, 10:24 AM

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Wonder if I claim the Rm1,500 for mother/father relief, will my parent be penalised for receiving BR1M?
familyfirst
post Mar 8 2017, 09:03 AM

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im still thinking if I shd use the Rm1,500 relief for parents. Still thinking there is a reason behind this since IC no is needed. Might kena revoke BR1M of my parents later.
familyfirst
post Mar 8 2017, 10:29 AM

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QUOTE(dannyw @ Mar 8 2017, 09:23 AM)
As long we fulfil the condition should be fine, right? My parents also apply for BR1M, which haven't received yet this year.  doh.gif

But both of them no income, and above 60, so I'm eligible for this....

It did not stated have to be stay together. My parents at hometown.
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Wonder if this will give them a reason to stop BR1M for parents since child is earning sufficient? Just thinking a little too much but could be true.
And moreover, this relief is for 5 yrs only.
familyfirst
post Mar 10 2017, 09:22 AM

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QUOTE(fingertips @ Mar 9 2017, 06:23 PM)
I calculate myself, I don't even have PCB form.I jump ship often haha
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If you are under employment, you then have to go back to all those ships and get your EA form.
familyfirst
post Mar 10 2017, 09:32 AM

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QUOTE(fingertips @ Mar 10 2017, 09:26 AM)
Work 3 months how to get ? Why not just calculate myself? Sum up and total annual earning minus 11%?
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if you are employed, even 1 mth also the company need to prepare for you at the beginning of this year (for last years income).
familyfirst
post Mar 10 2017, 11:18 AM

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QUOTE(DinKnight @ Mar 10 2017, 11:17 AM)
Hi guys, I forgot the leadtime for tax refunds, the last time I had a tax refund credited to my bank account was in 2012.

I filed mine on 4th March and expect a tax refund credited this time. Any idea when is earliest I can expect the LHDN to credit it to my bank account?

I assume if BRIM is being paid starting 17th march the same should go for our tax refunds?
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+/- 10 days to 2 weeks.
familyfirst
post Mar 13 2017, 08:38 AM

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QUOTE(fingertips @ Mar 10 2017, 04:26 PM)
prepare like what? prepare to release PCB? I still wonder what is PCB, does it has a physical form? is it a form or what? omg..
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PCB means there has been a monthly deduction of income tax from your salary and it will be shown in your monthly salary slip. At the end of each financial year, your Company will prepare a EA form to show all deductions for the entire year or entire period you were working for them (even if less than a year). So lets say you have worked for 3 companies in 2016, then these 3 companies should individually prepare for you a EA form which you can use for your income tax submission.

This post has been edited by familyfirst: Mar 13 2017, 09:02 AM
familyfirst
post Mar 13 2017, 09:04 AM

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QUOTE(fingertips @ Mar 13 2017, 08:40 AM)
They deduct my salary?got meh?
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If salary entitled to deduct then they have to follow the law. You can check your salary slip.
familyfirst
post Mar 13 2017, 01:32 PM

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QUOTE(fingertips @ Mar 13 2017, 12:00 PM)
If salary got deduct I don't have pay anything right? Since it's deduct dy.i just have to report every year and  company pay for me, correct?
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You still need to do e-filling every year and since every individual single or married are entitled to some deductions, you may have overpaid. So once you do the e-filling, and after you key in everything, the system will immediately tell you whether you overpaid or you still need to top up. If overpaid, LHDN will process and bank into your account in abt 2 weeks. If still need to top up, then you have to pay up the access online.
familyfirst
post Mar 13 2017, 02:55 PM

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QUOTE(hong6002 @ Mar 13 2017, 01:47 PM)
Hello Senpai's,

I've just finished my degree and enrolled into a company last year ( November'16), lets say my salary is around 3k, do I need to declare my income as of 2016, although my annual income for 2016 is below the requirement?

I mean if I declare, by any means do it benefit me? Like in bank loan credibility or maybe some other aspect?

Please Advise.
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The benefit of paying income tax (when eligible) is you will not be jailed.
familyfirst
post Mar 14 2017, 08:00 AM

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Just submitted yesterday. Will track and see how fast/slow the refund is made. But usually for past years, its within 2 weeks which is commendable.
familyfirst
post Mar 20 2017, 08:27 AM

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QUOTE(Havoc Knightmare @ Mar 19 2017, 11:41 PM)
Hi guys,

A meaningful source of my income is derived from trading in the US and Singapore markets. Eventhough they may not be taxable here, do I still need to declare them? Especially since I intend to bring the cash back here later this year to purchase a car and pay down my mortgage. My profits have been in the low hundreds of thousand ringgit. Any advice would be greatly appreciated.

Thanks.
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There has been discussion on this earlier in this thread. The gist of the discussion was - it does not matter where your money comes from but it does matter where you are based while making that money (or something along these lines). Meaning, if you are based in Malaysia but trading online in SIN or USA, then the income is taxable. Would suggest you walk in to LHDN or talk to some tax agents to find out more.

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