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Personal relief Income tax, legally, reduce income tax
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TSlucifah
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 Mar 25 2017, 12:36 PM
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St. Fu
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QUOTE(kradun @ Mar 25 2017, 12:31 PM) Where got loophole on the description? See attached sample for year 2015. All this while sspn tax relief is only applicable to the net saving amount. If they really want to audit then they just need the annual statement will do, that consist of in and out transactions, that also the straightforward way to determine the "net saving amount". some forummers made a discussion about the SSPN a few months back. i just can't recall whether it's in this thread or other thread QUOTE(rapple @ Feb 14 2017, 04:03 PM) [attachmentid=8486025] [attachmentid=8486007] 2016 [attachmentid=8486024] [attachmentid=8486008] 2017 Judge for yourself. Edit: As per PTPTN officer, the terms will be change from time to time so in future we might not be able to withdraw. Keep this in mind. |
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rapple
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Mar 25 2017, 02:10 PM
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QUOTE(lucifah @ Mar 25 2017, 12:36 PM) some forummers made a discussion about the SSPN a few months back. i just can't recall whether it's in this thread or other thread It has always been Net Savings. There's no loophole to start with. |
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MiKE7LIM
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Mar 25 2017, 02:41 PM
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QUOTE(David83 @ Mar 25 2017, 10:47 AM) They'll track using your parents NRIC. Once you login into e-BE, you will understand how you can claim it. thanks. got it.  |
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TSlucifah
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Mar 25 2017, 03:01 PM
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St. Fu
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QUOTE(rapple @ Mar 25 2017, 02:10 PM) It has always been Net Savings. There's no loophole to start with. oh, then i have misunderstood i was thinking of using your method  |
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PrincZe
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Mar 26 2017, 06:15 PM
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hello, for asb dividens, should put under what column? if not wrong is it tax exempted?
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SUSDavid83
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Mar 26 2017, 07:23 PM
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QUOTE(PrincZe @ Mar 26 2017, 06:15 PM) hello, for asb dividens, should put under what column? if not wrong is it tax exempted? Single Tier Dividend. No action required. Tax exempted and no refund is able to claim back. |
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popice2u
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Mar 27 2017, 08:01 AM
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QUOTE(David83 @ Mar 25 2017, 10:47 AM) They'll track using your parents NRIC. Once you login into e-BE, you will understand how you can claim it. if got 3 brothers, the rm1,500 is share by 3 (each rm500) or each rm1,500? |
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SUSDavid83
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Mar 27 2017, 08:02 AM
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QUOTE(popice2u @ Mar 27 2017, 08:01 AM) if got 3 brothers, the rm1,500 is share by 3 (each rm500) or each rm1,500? Of course it's shared among 3 of you guys. |
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repusez
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Mar 27 2017, 02:01 PM
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QUOTE(popice2u @ Mar 27 2017, 08:01 AM) if got 3 brothers, the rm1,500 is share by 3 (each rm500) or each rm1,500? it's up to you how you want to share the tax relief among your sibling, eg the eldest has the highest income bracket and pays the most to the parents expenses, he might claim all deduction, or he can claim 1/2 or 1/3 out of the 1500 tax relief , but the amount must be equally distributed. this is how it looks like in the e-filling page Attached thumbnail(s)
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kh_lim
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Mar 27 2017, 03:47 PM
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Getting Started
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QUOTE(lucifah @ Mar 25 2017, 10:38 AM) For YA 2016, there is also a new tax relief for your PARENTS you can claim RM 1,500 PER PARENT (RM3k for both) that you help to take care (provided that the PARENT dont earn more than rm24k annually) May I know under what condition I can claim RM1,500 per parent? Is it must come from medical expenses we spend on our parent? |
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repusez
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Mar 27 2017, 03:50 PM
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QUOTE(kh_lim @ Mar 27 2017, 03:47 PM) May I know under what condition I can claim RM1,500 per parent? Is it must come from medical expenses we spend on our parent? 
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kh_lim
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Mar 27 2017, 03:57 PM
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Getting Started
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QUOTE(repusez @ Mar 27 2017, 03:50 PM) Thanks for sharing the info  By the way, I'm confused with this clause, The parents are tax residents in Malaysia in the current year of assessment.Parents at age 60 and above still have to pay tax?  |
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rapple
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Mar 27 2017, 04:13 PM
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QUOTE(kh_lim @ Mar 27 2017, 03:57 PM) Thanks for sharing the info By the way, I'm confused with this clause, The parents are tax residents in Malaysia in the current year of assessment.Parents at age 60 and above still have to pay tax? Tax resident means your parents need to be in Malaysia for at least 182 days in that year. You have income, you pay tax. Doesn't matter how old are you. |
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tstan8_8
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Mar 27 2017, 04:29 PM
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QUOTE(kh_lim @ Mar 27 2017, 03:57 PM) Thanks for sharing the info By the way, I'm confused with this clause, The parents are tax residents in Malaysia in the current year of assessment.Parents at age 60 and above still have to pay tax? What question=.='' Many director age 60 above. |
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popice2u
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Mar 27 2017, 04:47 PM
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if a child graduated in apr 2016 still can claim full rm8k?
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ronho
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Mar 27 2017, 05:13 PM
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maybe should see the bill, would have likely paid in 2015 end, then claimed already in 2015 year... right ?
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kh_lim
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Mar 29 2017, 07:15 AM
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Getting Started
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QUOTE(tstan8_8 @ Mar 27 2017, 04:29 PM) What question=.='' Many director age 60 above. What I meant was 60 is common retirement age... For my case, my parent already retired and no income, hence not paying tax. |
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tstan8_8
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Mar 29 2017, 09:49 AM
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Edited
This post has been edited by tstan8_8: Mar 29 2017, 02:30 PM
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soulmad
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Mar 29 2017, 10:30 AM
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how u all record the rental income?
there are expenses such as maintenance fee,assesstment fee,cukai pintu,agent commission
can I keep a simple log ?
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T231H
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Mar 29 2017, 10:52 AM
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QUOTE(soulmad @ Mar 29 2017, 10:30 AM) how u all record the rental income? there are expenses such as maintenance fee,assesstment fee,cukai pintu,agent commission can I keep a simple log ? found this on google...hope it can helps... part 1 http://malaysiantaxation101.com/2013/01/my...-nst-red-today/part 2 http://malaysiantaxation101.com/2013/01/ex...-property-pt-2/ |
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