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 Personal relief Income tax, legally, reduce income tax

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Playbook
post Apr 24 2008, 07:27 AM

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QUOTE(amyho3 @ Apr 10 2008, 02:06 PM)
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?
*
They are promising quick refunds within 1-3 months of filing. If you provide a bank account with your filing, they will send the refunds to that account.

But you can get an answer from the Income Tax department to confirm this, and tell you what you about their refund issuance targets & processes.

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
Playbook
post Apr 24 2008, 07:32 AM

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From the IRD website -> http://www.hasil.org.my/english/eng_NO2_1_1F.asp
Another useful table -> http://www.hasil.org.my/english/eng_NO2_1_1E.asp

If you need answers from the Income Tax department to confirm how you are filling in your form, do contact them...

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

This post has been edited by Playbook: Apr 24 2008, 07:33 AM
Trevor Keegan
post Apr 24 2008, 12:29 PM

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QUOTE(Playbook @ Apr 24 2008, 07:27 AM)
They are promising quick refunds within 1-3 months of filing.  If you provide a bank account with your filing, they will send the refunds to that account.
hi,

Just a couple of point here:
1. AFAIK, you are only promised quick refunds if you are using the e-Filing. The LHDN will try to process the manual filings quickly, but the earlier that you get them the better the chances. It also depends on whether there are any problems in the way that the form has been completed. The FREE version of TAXSAYA will help in this regard, which you can download from www.taxsaya.com
2. AFAIK, the refunds are currently not being paid directly into your bank account, this is something that they plan to apply for next year with the e-Refund. Currently the refunds are still paid out using cheques.

Regards
Trevor Keegan
www.taxsaya.com
Malaysia's First FREE Multi-Lingual Tax Computation Software
frans
post Apr 24 2008, 01:21 PM

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Hi All, Hope to share with each other my below queries...

Regarding the section: Section 46[/b]
b) (i) Medical expense for parents : RM5000(max)
(ii) Medical expense for taxpayer(you), spouse and children in respect of serious diseases : RM5000(max)*

Does it cover normal medical treatment that taxpayer that he/she and his/her parent undergo in the clinic? what i meant normal medical treatment is just like flu, eye checking, dentail treatment and so on.



And also for the Expense on a complete medical examination : RM500(max)*

How we define the complete medical examination? Does it cover blood checking?
TaxSingam
post Apr 24 2008, 02:39 PM

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QUOTE(frans @ Apr 24 2008, 01:21 PM)
Hi All, Hope to share with each other my below queries...

Regarding the section: Section 46[/b]
b)  (i) Medical expense for parents : RM5000(max)
    (ii) Medical expense for taxpayer(you), spouse and children in respect of serious diseases : RM5000(max)*

Does it cover normal medical treatment that taxpayer that he/she and his/her parent undergo in the clinic? what i meant normal medical treatment is just like flu, eye checking, dentail treatment and so on. 
And also for the Expense on a complete medical examination : RM500(max)*

How we define the complete medical examination? Does it cover blood checking?
*
1. For parents medical, even normal ailments are covered.
2. Full Medical Examination must also include a Physical Examination (read this )
TaxSingam
post Apr 24 2008, 03:12 PM

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Hi, alternatively you could just download taxsaya and see all the deduction that is applicable for you. The software would help you find out all the relief and claims that is applicable to you.
miuk
post Apr 27 2008, 04:19 PM

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guys,

I got this from YourMoney section NST newspaper dated 23 April 2008.

"Buying sports and exercise equipment can also be claimed as tax relief of up to RM300"

I tried finding it everywhere but cant seem to find this clause, anyone can enlighten me?

Thanks
lostasylum
post Apr 27 2008, 07:31 PM

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QUOTE(cute_boboi @ Mar 5 2008, 03:46 PM)
For your own sole-proprietor company, have to use B form and not BE form.
http://www.hasil.org.my/cP/upload/Form/Nyata/BorangB2007.pdf

BORANG BE 2007
PEMASTAUTIN YANG TIDAK MENJALANKAN PERNIAGAAN

BORANG B 2007
PEMASTAUTIN YANG MENJALANKAN PERNIAGAAN

I am not a tax agent  tongue.gif  and I'm not in finance/accounting. Just doing a favour to everyone. You can get a copy of all the forms here.
http://www.hasil.org.my/melayu/bm_NO5_1.asp
hey there... i know this is really late.. but i've been really busy....

here's the situation i'm in... i was employed until january of this year (2008).
at the same time, i also set up a sole proprietorship in january 2008 and i've been full time with my enterprise since feb of this year.

I believe that i should be filling in the BE 2007 form right?

i just need confirmation... heheh.. thanks....
clsiluf
post Apr 27 2008, 07:47 PM

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QUOTE(miuk @ Apr 27 2008, 04:19 PM)
guys,

I got this from YourMoney section NST newspaper dated 23 April 2008.

"Buying sports and exercise equipment can also be claimed as tax relief of up to RM300"

I tried finding it everywhere but cant seem to find this clause, anyone can enlighten me?

Thanks
*
yes, is a new relief. goverment want malaysian to exercise more
pangolin88
post Apr 27 2008, 08:24 PM

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sorry for last minute question.
Insurance premium. last year pay Automatic premium loan ( quite big amt) plus principal.
Tax receipt from Great Eastern showed the total amount paid during the year.
Can I claim off all or just the principal alone.


Trevor Keegan
post Apr 28 2008, 10:10 AM

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QUOTE(lostasylum @ Apr 27 2008, 07:31 PM)
hey there... i know this is really late.. but i've been really busy....

here's the situation i'm in... i was employed until january of this year (2008).
at the same time, i also set up a sole proprietorship in january 2008 and i've been full time with my enterprise since feb of this year.

I believe that i should be filling in the BE 2007 form right?

i just need confirmation... heheh.. thanks....
*
Hi,

Yes....if you were only receiving employment income between 1st Jan 2007 -> 31st Dec 2007, then you will file a Borang BE.

You will file a Borang B for your 2008 filing.

Regards
Trevor Keegan
www.taxsaya.com
Malaysia's First FREE Multi-Lingual Tax Computation Software
Trevor Keegan
post Apr 28 2008, 10:17 AM

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QUOTE(pangolin88 @ Apr 27 2008, 08:24 PM)
sorry for last minute question.
Insurance premium. last year pay Automatic premium loan ( quite big amt)  plus principal.
Tax receipt from Great Eastern showed the total amount paid during the year.
Can I claim off all or just the principal alone.
*
Hi,

Depends what the premium was for wink.gif If you download your FREE copy of TAXSAYA, then we have listed out for you what types of insurance you can claim on

Regards
Trevor Keegan
www.taxsaya.com
Malaysia's First FREE Multi-Lingual Tax Computation Software
pangolin88
post Apr 28 2008, 11:57 AM

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[quote=Trevor Keegan,Apr 28 2008, 10:17 AM]
Hi,

Depends what the premium was for wink.gif If you download your FREE copy of TAXSAYA, then we have listed out for you what types of insurance you can claim on

Regards
Trevor Keegan

already d/l taxsaya but no answer.

Whole life insurance.. annual principal is RM626. APL plus interest paid in 2007 is RM1380.
Total paid in 2007 is RM RM2006.

So can I claim for RM626 only or RM2006.
TQ

Trevor Keegan
post Apr 28 2008, 03:48 PM

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[quote=pangolin88,Apr 28 2008, 11:57 AM]
[quote=Trevor Keegan,Apr 28 2008, 10:17 AM]
Hi,

Depends what the premium was for wink.gif If you download your FREE copy of TAXSAYA, then we have listed out for you what types of insurance you can claim on

Regards
Trevor Keegan

already d/l taxsaya but no answer.

Whole life insurance.. annual principal is RM626. APL plus interest paid in 2007 is RM1380.
Total paid in 2007 is RM RM2006.

So can I claim for RM626 only or RM2006.
TQ
*

[/quote]
Hi,

Sorry about that,....we are servicing calls from both Tax Payers and Tax Agents, this is also the reason that we have set up the forum....so that we can get to address all the questions wink.gif

Based on the information that you have given here (assuming that the Whole of life is either for yourself or your spouse then) you will be able to claim the RM626.

I am sorry...I do not know what APL is

Regards
Trevor Keegan
www.taxsaya.com
Malaysia's first FREE Multi-Lingual Tax Computation Software
pangolin88
post Apr 28 2008, 04:39 PM

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[quote=Trevor Keegan,Apr 28 2008, 03:48 PM]
Hi,

Sorry about that,....we are servicing calls from both Tax Payers and Tax Agents, this is also the reason that we have set up the forum....so that we can get to address all the questions wink.gif

Based on the information that you have given here (assuming that the Whole of life is either for yourself or your spouse then) you will be able to claim the RM626.

I am sorry...I do not know what APL is

Thanks for the quick response
APL is Automatic premium loan.. I did not pay the principal last year so this year paid for two years plus accrued interest.

Trevor Keegan
post Apr 28 2008, 06:15 PM

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[quote=pangolin88,Apr 28 2008, 04:39 PM]
[quote=Trevor Keegan,Apr 28 2008, 03:48 PM]
Hi,

Sorry about that,....we are servicing calls from both Tax Payers and Tax Agents, this is also the reason that we have set up the forum....so that we can get to address all the questions wink.gif

Based on the information that you have given here (assuming that the Whole of life is either for yourself or your spouse then) you will be able to claim the RM626.

I am sorry...I do not know what APL is

Thanks for the quick response
APL is Automatic premium loan.. I did not pay the principal last year so this year paid for two years plus accrued interest.
*

[/quote]
I have to make it up to you some how wink.gif

Regards
Trevor Keegan
www.taxsaya.com
Malaysia's First FREE Multi-Lingual Tax Computation Software
ttwangsa
post Apr 30 2008, 08:02 PM

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if you work for a company say... erm.. Ford..
and you run your own business, say.. erm a workshop
and you use your salary from Ford to get the workshop
up and running
can that reduce tax?
and if this is the case, do you file B or BE or Both?


Added on April 30, 2008, 8:13 pmon top of that
if i do free lancing job
say i get 1k evertime i do it
and i can do like 3 times per month
so that's like 36k extra..
no contract and documents
how do i file it?
do i even file it?
argh
death and taxes
tax you to death


This post has been edited by ttwangsa: Apr 30 2008, 08:13 PM
Lawyer1
post May 7 2008, 07:36 AM

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Hi, I have a simple question here : is foreign income required to be put into the Borang E, or whatever borang for reporting to the Government ?

I know foreign-sourced is NOT taxable, but do we need to report ? Thank you.
Andy0625
post May 23 2008, 06:53 PM

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Hope you guys can answer my question below.

Let say my partner and i operate a business and it's not sdn bhd , can i have Company trip for vacation ?
If yes , then why the auditor say no and they said that you only can give company vacation trip for workers only.

If like that , the partner and boss no need to go ?

Hope you guys can help answer my question above.
TSlucifah
post May 23 2008, 06:57 PM

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QUOTE(Andy0625 @ May 23 2008, 06:53 PM)
Hope you guys can answer my question below.

Let say my partner and i operate a business and it's not sdn bhd , can i have Company trip for vacation ?
If yes , then why the auditor say no and they said that you only can give company vacation trip for workers only.

If like that , the partner and boss no need to go ?

Hope you guys can help answer my question above.
*
i asked my accountant and he also told me the same thing. company vacation is not business related.

but if you change it to "business trip", then it's allowable expenses

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