April got 31st?

normally, how much you pay for income tax if you are in rm2k-3k earner per month?

the income tax will be paid in monthly or annual ? ..

Income tax paid annually...
if ur income below RM2500.00 i think no nid pay..
u can check lhdn website

Dear all,

This is my first time filling up BE-Form. Wanna check with you all whether can I claim a deduction on personal computer if the receipt is not under my name?

Hope can get soonest reply.

Thanks!

not very likely la. if IRD allows it, it sets a bad precedent, it will be open to abuse.

The answer is NO. If you get caught/audited, you can be fined for false declaration or evading tax.

My opinion is not worth it to take that risk.

I just received my EA form but I have 1 query. I received bonus for Year 2007 in Jan 2008 and March 2008. In my EA form, only include the bonus received in Jan 2008. I asked the admin personnel and she informed that it is because the bonus that I received in March 08 will be added to 2008 EA form. I simplify it as below.

EA for Year 2007: Bonus for 2007 received in Jan 08.
EA for Year 2008: Bonus for 2007 received in Mar 08.

Do I submit my income tax for year 2007 assessment based on the EA form. (Meaning bonus for 2007 received in Mar 08 not included in 2007 assessment)


Kindly advice.

This post has been edited by NaiveLady: Apr 9 2008, 10:42 PM

I am totally lost at this one. I am just a normal employee and my car is 27K. I paid 7K down payment and loaned Rm20k for 3 years with a monthly payment of RM624.00.

How much can I claim as rebate/relief and which section of the form should I fill in?

Sorry for noob Q.

Books are not rebates, there are only a deductible expense. If you guys are still unsure, download your copy of TAXSAYA

taxsingam.blogspot.com

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Added on April 10, 2008, 9:26 amYou CANNOT claim the hire purchase against your tax if you are a salary earner. If you run a business then the capital portion (no interest) can be claimed as a capital allowance and the interest can be claimed as a business expense.

I suggest if you are a salary earner download your copy of TAXSAYA and see what can you claim.

taxsingam.blogspot.com

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Added on April 10, 2008, 9:29 am70K should be attracting a tax liability. I suggest you download your FREE copy of TAXSAYA to find out your actual tax liability.

This post has been edited by TaxSingam: Apr 10 2008, 09:29 AM

can claim newspaper subscriptions under books&magazines?

Nop. Newspaper is not eligible for tax deduction under books & mags

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Added on April 10, 2008, 11:58 amCan installment cannot claim la bro, Unless its under business then can. Salary earner no la.

This post has been edited by ekestima: Apr 10 2008, 11:58 AM

Hi, all.

May I know how long it takes for income tax refund? Coz it owes me quite a huge amount. Also, how do they refund the money ar?

This post has been edited by amyho3: Apr 10 2008, 02:10 PM

reimbursed allowances will not be taxable.. just pay the expenses ( electricity, petrol) by yourself first and then claim from your boss...
correct me if im wrong.. im still in the learning process

Hi,

If you have not received your refunds from previous years, then you should write directly to Dato' Hasmah (her email is hasmah@hasil.org.my).

At the moment, the refund is paid to via cheque, although next next year the IRB is planning to implement an e-Rufund system which will pay the refund directly into your nominated account.

Regards
Trevor Keegan
www.taxsaya.com
Malaysia's First FREE Multi-Lingual Tax Software

Hi TaxSingam,

I'm a professional who works as a contractor to a company. In my case, i'm a sole proprietor so I use B form. What ways can i use to reduce my tax payment legally? Would buying a house and a car fit the bill? If so, how many percent of the house and car worth will be accounted for? Please advice.

Thanks,
AC

Being a contractor, does entitle you to claim yourself as a business income deriving individual. As a business, you are trying to claim certain expenses against your income in order to reduce it's taxable amount.

What can you legally claim? It's all in the picture you paint... I mean if you buy a house or a car , and both were used solely for business then the expense in maintaining it would be allowable. If only a percentage was for business, you got to justify this percentage too. Most of the time, people claim 1/3 or 2/3

As to the actual cost of purchase of the house, I don't see how you can claim this. (unless you live in a factory). The car however would be allowed for claim under a mechanism called Capital Allowance. Again provided its fully for business or you apply a percentage of own use normally 1/3 or 2/3 depending on the case.

Bottom line, write a story of your earnings and if your story makes sense most likely it can be claimed. Without knowing exact specific details its difficult to comment. Read up on sec 33(1) & 39 of the Income Tax if you can. That's pretty much the ultimate law governing business individuals.

I shall try to find the time to put a more detailed write up on this matter on my blog ( taxsingam.blogspot.com )

This post has been edited by TaxSingam: Apr 23 2008, 11:35 AM

Hi there.

I need some help on supporting documents for income tax incentives.

e.g. On education fees.

What happens if I could not get hold of the official receipt? Are there any possible ways out?

Thanks. Would really appreciate some help here.

This post has been edited by bellz_princess: Apr 23 2008, 06:07 PM

No way out without official receipt.

But you can get an answer from the Income Tax department to confirm this, and tell you what you need to do.

Telephone Service
Povide your full name, tax reference no. and contact no. when contacting through phone.

Service hours: Monday to Friday 8.00 a.m - 5.30 p.m

Customer Service Counter phone no:
Toll Free line 1-300-88-3010
E-Filing Helpline 03-42893535

Email Service
e-Filing e_filing@hasil.org.my
General Enquiries callcentre@hasil.org.my

Follow your EA form. Because the authorities will be using it as well. Important to check your EA form is accurate.

But you can get an answer from the Income Tax department to confirm this, and tell you what you need to do.

Telephone Service
Povide your full name, tax reference no. and contact no. when contacting through phone.

Service hours: Monday to Friday 8.00 a.m - 5.30 p.m

Customer Service Counter phone no:
Toll Free line 1-300-88-3010
E-Filing Helpline 03-42893535

Email Service
e-Filing e_filing@hasil.org.my
General Enquiries callcentre@hasil.org.my

Nope, not eligible for deductions.

But you can get an answer from the Income Tax department to confirm this, and tell you what else you can deduct (or not deduct).

Telephone Service
Povide your full name, tax reference no. and contact no. when contacting through phone.

Service hours: Monday to Friday 8.00 a.m - 5.30 p.m

Customer Service Counter phone no:
Toll Free line 1-300-88-3010
E-Filing Helpline 03-42893535

Email Service
e-Filing e_filing@hasil.org.my
General Enquiries callcentre@hasil.org.my