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

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SUSyklooi
post Nov 1 2016, 06:11 PM

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QUOTE(spreeeee @ Nov 1 2016, 05:59 PM)
how does the new "lifestyle" tax relief rm2500 worth? how many % of the tax? wonder should wait till nxt year only get new gadget.. or just get it now biggrin.gif
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read this a few days ago.
hope it helps...
Lifestyle Tax Relief: The Good, The Bad & The Ugly
https://www.imoney.my/articles/lifestyle-ta...he-bad-the-ugly
SUSyklooi
post Oct 25 2017, 09:58 PM

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QUOTE(iwubpreve @ Oct 25 2017, 09:51 PM)
got la mine 1. they wanna check specific year. mine is donation to NGO that entitle for tax relief 1. so i need get those documents. just that they mention tahun taksiran 2015 mean they wanna see 2014 donation?
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assessment year 2015 form is you submit in year (April) 2016
thus should be donations given throughout year 2015
SUSyklooi
post Jan 18 2018, 04:07 PM

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QUOTE(David83 @ Jan 18 2018, 03:55 PM)
Income not derived from Malaysia is not taxable under Malaysian law.
Capital gain from Malaysian equity trading is not subjected to tax.
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hmm.gif
read post 11, 12 and onwards.......
investment return taxable?
https://forum.lowyat.net/topic/4436982
SUSyklooi
post Jan 18 2018, 04:54 PM

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QUOTE(David83 @ Jan 18 2018, 04:43 PM)
Additional capital gains tax (CGT) issues and exceptions

Are there additional capital gains tax (CGT) issues in Malaysia? If so, please discuss?

Other than real property gains tax, there is no other CGT.

Are there capital gains tax exceptions in Malaysia? If so, please discuss?

Not applicable.

URL: https://forum.lowyat.net/topic/4436982

I'm referring to capital gain from equity market trading!

Property is not under equity market.
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That link does not talk about property gain tax only....did it?
SUSyklooi
post Jan 21 2018, 09:54 AM

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QUOTE(jiaen0509 @ Jan 21 2018, 12:06 AM)
Education Fees (Self)
(i) Other than a degree at Masters or Doctorate level-for acquiring law, accounting, Islamic financing, technical, vocational, industrial, scientific or technological skills or qualifications;

Mean if I take accounting in Bachelor’s degree course cannot deduct? Have to follow how much you paid izzit? Or can direct tolak 7000?

Payment of monthly bill for internet subscription —- Include mobile bill? Digi
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education fees...
http://lampiran2.hasil.gov.my/pdf/pdfam/7_BROCHURE_2016.pdf

internet bill
approximate similar question....see post# 2894

This post has been edited by yklooi: Jan 21 2018, 10:22 AM
SUSyklooi
post Feb 6 2018, 11:16 AM

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QUOTE(klthor @ Feb 6 2018, 11:11 AM)
i like your patient, every year, same few questions.... capital gain, derived from overseas, FOREX smile.gif
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wondering if these can be kind of posted in the post 1 (or somewhere)....under FAQs?
SUSyklooi
post Mar 6 2018, 04:24 PM

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QUOTE(earl-ku @ Mar 6 2018, 04:03 PM)
i have a question for all tax experthere - under rumusan cukai - the portion or section on the taxable income - has reduced significantly for me this year - last year it was first 100k then subsequesnt amount at 24%

but this year it became first 70k then next subsequent amount at 21%

any reason for this amount to be lowered?
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different ??
one is 100K and the other is 70k?

SUSyklooi
post Mar 6 2018, 04:41 PM

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QUOTE(earl-ku @ Mar 6 2018, 04:03 PM)
i have a question for all tax experthere - under rumusan cukai - the portion or section on the taxable income - has reduced significantly for me this year - last year it was first 100k then subsequesnt amount at 24%

but this year it became first 70k then next subsequent amount at 21%

any reason for this amount to be lowered?
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attached is
A=1st 100k subsequent 24%
B=1st 70k subsequent 21%

same as your post....

or do you mean your income and tax relief is the same but the tax payable is lesser by 3%?


Attached thumbnail(s)
Attached Image
SUSyklooi
post Mar 6 2018, 04:44 PM

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QUOTE(earl-ku @ Mar 6 2018, 04:42 PM)
yeap income and relief same as previous year
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then you mean you will be paying 3% less taxes?
SUSyklooi
post Mar 6 2018, 04:46 PM

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QUOTE(earl-ku @ Mar 6 2018, 04:44 PM)
guess so
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found this....
hope it explains why....
https://www.3ecpa.com.my/resources/malaysia...ncome-tax-rate/
SUSyklooi
post Mar 23 2018, 09:46 AM

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QUOTE(HMMaster @ Mar 23 2018, 09:39 AM)
So it is based on the payment? So if I made a payment on Jan 2017 for the Dec 2016 bill, is it counted for 2017 tax relief?
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not sure about telco...but just weeks ago, I went to AIA insurance company to print my tax relief statement....
there was 1 statement they did not print for me.....
she said for that policy, my policy renewal date was Nov 2017, but I paid on 4 Jan 2018,....thus cannot print for tax relief statement 2017....
SUSyklooi
post Mar 23 2018, 11:01 AM

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QUOTE(cherroy @ Mar 23 2018, 09:59 AM)
Yes, annual statement will be always based on policy + payment made.
As policy only valid with payment made.

There may be some not paying the renewal premium, which resulted policy become lapse.
So it is right for insurance company to print out based on the payment date.

While for internet subscription bill, generally there is print out of payment being made for the last bill.
If not showing the payment being made, there is a need to keep the payment receipt.
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for my case....
I paid my Nov 2017 insurance renewal in Jan 2018
if I happens to paid Nov 2018 renewal on time ...Dec 2018.......then in March 2019 i will beable to print my Tax relief statement for 2018 with 2 transactions (One in jan 2018 and the other Dec 2018)?
if can, then can i or should i claim both amount for income tax relief 2018?

i did not claim tax relief for 2017 bcos i did not have the statement...

SUSyklooi
post Apr 3 2018, 08:32 PM

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QUOTE(jiaen0509 @ Apr 3 2018, 08:27 PM)
Self-contribute for EPF can deduct? Should be can but my consultant said self-contribute cannot deduce?

Any advice?
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hmm.gif then what is the incentives to self contribute EPF?

but who am i to argue with your consultant... blush.gif

SUSyklooi
post Apr 7 2018, 11:35 AM

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QUOTE(Ramjade @ Apr 7 2018, 11:31 AM)
Can topup prepaid on Lazada be use as internet under the RM2500 relief?
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do you meant the RM2500 for this category....
Lifestyle....
https://www.imoney.my/articles/lifestyle-ta...he-bad-the-ugly
SUSyklooi
post Apr 7 2018, 12:02 PM

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QUOTE(Ramjade @ Apr 7 2018, 11:31 AM)
Can topup prepaid on Lazada be use as internet under the RM2500 relief?
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QUOTE(yklooi @ Apr 7 2018, 11:35 AM)
do you meant the RM2500 for this category....
Lifestyle....
https://www.imoney.my/articles/lifestyle-ta...he-bad-the-ugly
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QUOTE(Ramjade @ Apr 7 2018, 11:50 AM)
Yes.
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then i guess "topup prepaid on Lazada cannot be use as internet under the RM2500 relief", as LAzada is not an internet provider....
SUSyklooi
post Apr 7 2018, 12:23 PM

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QUOTE(Ramjade @ Apr 7 2018, 12:15 PM)
But I use it to topup like digi,  Maxis.
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is there any proof, linkage, statement saying that the prepaid for DIGI, Maxis is for internet plan? and the lazada top up that you paid are for that DIGI, Maxis internet line?

a top up card can be purchased online but used for another person too....

KPMG NOTE
Taxpayers are reminded to retain documentary evidence to support the claim of tax reliefs in the event of a tax audit. If a taxpayer is audited, the absence of documentary evidence could attract penalties of up to 100 percent of the tax under-charged (i.e., the additional tax that will arise from the disallowance of the claim).
https://home.kpmg.com/xx/en/home/insights/2...t-2016-132.html
SUSyklooi
post Apr 16 2018, 07:20 PM

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QUOTE(smartly @ Apr 16 2018, 06:59 PM)
may i know what is the payment code for a lump sum settlement of income tax ?
196 ?
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I used 095 once for my BE income tax settlement

http://www.hasil.gov.my/bt_goindex.php?bt_...=5000&bt_sequ=7


This post has been edited by yklooi: Apr 16 2018, 07:32 PM
SUSyklooi
post Apr 16 2018, 09:10 PM

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QUOTE(popice2u @ Apr 16 2018, 08:36 PM)
i donated to WORLD WIDE FUND FOR NATURE MALAYSIA, where to fill in?
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I think .....
for BE form,...it would be after Particulars of Husband/wife
on the section...Statutory income and total income
just before section Non-employment income of preceding years n declared

just beware of this 7% thing??
http://www.hasil.gov.my/bt_goindex.php?bt_...nit=1&bt_sequ=1


This post has been edited by yklooi: Apr 16 2018, 09:18 PM
SUSyklooi
post May 1 2018, 02:37 PM

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QUOTE(Joey-kun @ May 1 2018, 02:29 PM)
Question: I got a penangguhan letter. Should i go to the income tax office to check or wait and eventually the tax return will clear?

Read a few cases. Am confused. Some say that its audit. One poster said that if its audit, it will be a different letter. Any pointers? It's been a month and i still havent gotten any calls from them or anything yet.
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there was once (my 1st time),...I waited for 6 months....
then I decided that I will have to face them sooner or later....I go visit them....bringing along required documents and 'proof"...
SUSyklooi
post Jun 8 2018, 09:10 AM

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QUOTE(skyvisionz @ Jun 4 2018, 09:05 PM)
Guys want to ask if I already file BE form before deadline through online and there was tax payable. The tax till now not yet pay to hasil, will get penalty and how to pay the amount without going the counter?
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QUOTE(MUM @ Jun 4 2018, 09:44 PM)
googled and found this....
hope it can provide you with some info while you wait for responses.....
http://www.hasil.gov.my/bt_goindex.php?bt_...=5000&bt_sequ=7
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QUOTE(skyvisionz @ Jun 8 2018, 07:47 AM)
Any1 have answer?  Thanks
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MUM had provided you a link,...if is not useful or informative enough to tell how to pay the amount without going to the counter?

here is another one, hope it can be of use too (eventhough the information are almost similar) .....while you wait for more responses

https://www.imoney.my/articles/income-tax-g...-pay-income-tax

This post has been edited by yklooi: Jun 8 2018, 09:16 AM

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