QUOTE(ExHellSing @ Jan 11 2014, 03:11 AM)
CanFurnish equivalent amt in RM
Personal relief Income tax, legally, reduce income tax
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Jan 11 2014, 08:20 PM
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Senior Member
10,001 posts Joined: May 2013 |
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Mar 8 2014, 01:49 AM
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Senior Member
2,499 posts Joined: Apr 2005 From: Tyneside |
I signed S&P on Nov 2011, am i eligible to apply for the house interest loan rebate of RM10k? It says only applicable for S&P signed from 2k9 to 2k10
Been paying interests since June last year and been paying full since October. |
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Mar 8 2014, 08:10 AM
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All Stars
52,874 posts Joined: Jan 2003 |
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Mar 8 2014, 11:30 AM
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Senior Member
2,499 posts Joined: Apr 2005 From: Tyneside |
Any chance i can claim it maybe next year or something?
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Mar 8 2014, 02:48 PM
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633 posts Joined: Jan 2006 |
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Mar 8 2014, 05:27 PM
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All Stars
52,874 posts Joined: Jan 2003 |
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Mar 12 2014, 12:29 PM
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Senior Member
2,499 posts Joined: Apr 2005 From: Tyneside |
Aw, so meaning is even for next year it is only applicable for S&P signed on 2k9 to 2k10
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Mar 12 2014, 01:05 PM
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8,188 posts Joined: Apr 2013 |
QUOTE(Notoriez @ Mar 12 2014, 12:29 PM) latest available criteria is "YES" to yr question.BUT you will have to keep a constant look out for latest changes to its criteria. as to when it might happens...your guess is as good as mine. |
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Mar 13 2014, 10:23 AM
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96 posts Joined: May 2005 |
Has anyone noticed that 1 item has been taken away from this year BE Form (online version)?
Broadband (was limited RM500) Look like government has done it purposely. For item 1, refer to http://www.thestar.com.my/Opinion/Le...cription.aspx/ This post has been edited by whyme: Mar 13 2014, 12:25 PM |
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Mar 22 2014, 04:23 PM
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238 posts Joined: Nov 2008 From: Kedah, Pg (Island), Kelantan |
buying medication (diabetes, hypertension for parents) from pharmacy claimable?
any clause mention specifically? thank you guys. |
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Mar 22 2014, 08:54 PM
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10,001 posts Joined: May 2013 |
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Mar 23 2014, 01:34 PM
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3,705 posts Joined: Jan 2003 From: Planet Earth |
how to do a family employee "trick"??
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Mar 23 2014, 04:15 PM
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All Stars
52,874 posts Joined: Jan 2003 |
QUOTE(whyme @ Mar 13 2014, 10:23 AM) Has anyone noticed that 1 item has been taken away from this year BE Form (online version)? It has expired on YA2012. Not a surprised. Broadband (was limited RM500) Look like government has done it purposely. For item 1, refer to http://www.thestar.com.my/Opinion/Le...cription.aspx/ I believe it was started back in Budget 2010/. |
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Mar 23 2014, 09:21 PM
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9,206 posts Joined: Jun 2006 |
QUOTE(lucifah @ Nov 22 2006, 03:25 PM) OK. this thread is not for the faint at heart. how is it coming along for 2014? This thread serves the purpose to help those with an annual income exceeding RM70,000 or businessess where you can't alter your profit or loss the question: How do I reduce my income tax? Of course, some of my ways would be: 1. Increase expenditure 2. Buy lots of assetts - vehicles h&p, building s&p, etc 3. Pay high salary to "family employees" 4. pay zakat 5. computer - rm 3,500 insta-rebate (sadly, every 3 yrs only) any of you got any more ideas? i do hope LYN hs some real accountants / editors who can share their thoughts on how to reduce the taxes without breaking any law |
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Mar 23 2014, 10:06 PM
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Staff
7,948 posts Joined: Jan 2005 From: Soviet Sarawak |
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Mar 24 2014, 08:29 AM
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All Stars
52,874 posts Joined: Jan 2003 |
QUOTE(lucifah @ Mar 23 2014, 10:06 PM) wow... this thread is still alive? It'll back to alive around this period each year. last yr overpaid. didn't even bother to claim for any reliefs (book purchases, broadband, sports equip). only claim for zakat (which caused me to overpay) and some |
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Mar 24 2014, 03:42 PM
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Junior Member
198 posts Joined: Nov 2011 |
Anyone already received tax paid in excess from them yet?
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Mar 24 2014, 06:54 PM
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13 posts Joined: May 2009 |
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Mar 24 2014, 08:28 PM
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620 posts Joined: Jan 2014 |
QUOTE(lucifah @ Nov 22 2006, 03:25 PM) OK. this thread is not for the faint at heart. Did u ever think in the end you are spending more unnecessary than paying the tax? As far as I know it is only deduct your taxable income which is about few percent up to 20+%. This thread serves the purpose to help those with an annual income exceeding RM70,000 or businessess where you can't alter your profit or loss the question: How do I reduce my income tax? Of course, some of my ways would be: 1. Increase expenditure 2. Buy lots of assetts - vehicles h&p, building s&p, etc 3. Pay high salary to "family employees" 4. pay zakat 5. computer - rm 3,500 insta-rebate (sadly, every 3 yrs only) any of you got any more ideas? i do hope LYN hs some real accountants / editors who can share their thoughts on how to reduce the taxes without breaking any law I mean for example if you dont need the stuff but buy to reduce tax u might be spending more than giving the tax to gommen. FOr example u spend rm1000 to reduce the tax then reduce until pay rm0 for tax. But if u not spend then just pay tax, u might only need pay rm300. In the end u net gain rm700. COrrect? QUOTE(dreamer101 @ Nov 23 2006, 10:33 AM) Lucifah, Is the pay famly members hgih salary in business thing only applicable to sdn bhd? Is it able to do for sole proprietor?1) There is a difference. A director can still be working for someone else. Let say your son is working for company XYZ now. You can appoint your son to be director of your company while he is working for company XYZ. He cannot be a worker for both your company and XYZ company at the same time. 2) Unless you are a bumi, if your paid-up capital is 250K or higher, you have to give 30% of your company to a bumi. NEP applies. 3) What you need is a good accountant. Dreamer QUOTE(??!! @ Nov 23 2006, 02:44 PM) Make sure the "family employees" tax rate is lower than that of your co. How can free expenses paid? U still need pay for the holiday but only reduce the taxable income.1 often used technique. Time your holidays during some conference/seminar related to your business. Fly first class, stay in the most expensive hotel money can get you ( all this as stated in the invoice. Where you eventually stay or exchange your 1st class tkt to economy class for 2 pax, well,... ... Charge it all to the Co...all expenses paid holiday! |
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Mar 24 2014, 08:41 PM
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Staff
7,948 posts Joined: Jan 2005 From: Soviet Sarawak |
QUOTE(Sammich! @ Mar 24 2014, 08:28 PM) Did u ever think in the end you are spending more unnecessary than paying the tax? As far as I know it is only deduct your taxable income which is about few percent up to 20+%. that was like 8 yrs ago and u replied today... I mean for example if you dont need the stuff but buy to reduce tax u might be spending more than giving the tax to gommen. FOr example u spend rm1000 to reduce the tax then reduce until pay rm0 for tax. But if u not spend then just pay tax, u might only need pay rm300. In the end u net gain rm700. COrrect? Is the pay famly members hgih salary in business thing only applicable to sdn bhd? Is it able to do for sole proprietor? How can free expenses paid? U still need pay for the holiday but only reduce the taxable income. anyway, think of the expenditures like a 26% discount if it is tax deductible, you get 26% discount for example: buying books. if u spend RM 500 on the books that u like, u get RM 130 discount by NOT having to pay the taxes for it (assuming you are at the 26-percentile bracket) same goes to the holiday expenses. u get 26% discount |
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