Nope, it is all taxable. Everything come into your pocket is taxable unless stated otherwise, by right, if one collected RM1,000 at the roadside, it is still considered taxable under the law as it is your income. 

Even if your company buy you a phone or give the company to drive around or your personal usage instead give you higher salary, it is still taxable under benefit in kind.

Once one has the full tax relief, then pay the tax lor. Actually one should be glad one is paying more tax, as it just means you are making more money.

---

Added on February 8, 2009, 2:59 pm
All including Adun, menteri or PM also need to pay tax.

Please don't treat the finance section as ranting place or kopitiam talk. Occassion making fun in between seems no harm done, but constantly doing it will be seen as spamming.

Cheeroy, who said I was spamming. This is the fact. Please refer to Schedule 6 of the Income Tax Act 1967.

Regarding my Note No. 1 can find in Sch 6 ITA.
Note 2 : Its an income tax exemption order which is also part of the internal circulations. I dont think you will be able to find this.

You think I like to spam in here?

Cheeroy, who said I was spamming. This is the fact. Please refer to Schedule 6 of the Income Tax Act 1967.

Regarding my Note No. 1 can find in Sch 6 ITA.
Note 2 : Its an income tax exemption order which is also part of the internal circulations. I dont think you will be able to find this.

You think I like to spam in here?

Kekekeke.........Income tax submission againnnnnnnnn

Wah! Salute le. But option 1 is almost impossible la, give me oso dun want.
Just curious, for your Note 2, if someone become ADUN for 1 term only, the tax-exemption is still effective for whole life after he/she step-down? (hopefully not considered as spam)

cherroy : For 2009, there are few more items add-on for the tax relief. This was announced in the 2009 Budget. e.g. relief up to Rm 2400 for transport allowance. Mean if your company pay you transport allowance, u can at get tax-exemption for the RM 2400, the remaining will be taxable as normal.

Those dividend statements i got in 2008 still show income tax at 26% deducted from the dividend.
As I understand, we can no longer claim dividend deduction under section 110 now right?

Those dividend statements i got in 2008 still show income tax at 26% deducted from the dividend.
As I understand, we can no longer claim dividend deduction under section 110 now right?

Cheeroy, who said I was spamming. This is the fact. Please refer to Schedule 6 of the Income Tax Act 1967.

Regarding my Note No. 1 can find in Sch 6 ITA.
Note 2 : Its an income tax exemption order which is also part of the internal circulations. I dont think you will be able to find this.

You think I like to spam in here?

Nope, it is all taxable. Everything come into your pocket is taxable unless stated otherwise, by right, if one collected RM1,000 at the roadside, it is still considered taxable under the law as it is your income. 

Even if your company buy you a phone or give the company to drive around or your personal usage instead give you higher salary, it is still taxable under benefit in kind.

Once one has the full tax relief, then pay the tax lor. Actually one should be glad one is paying more tax, as it just means you are making more money.

---

Added on February 8, 2009, 2:59 pm
All including Adun, menteri or PM also need to pay tax.

Please don't treat the finance section as ranting place or kopitiam talk. Occassion making fun in between seems no harm done, but constantly doing it will be seen as spamming.

just a question , do Bank interest consider taxable income as well ?

Argh,

I just realized that having big bonus also bumps up your payable tax by a huge amount. My monthly deductions in 08 were like $140 a month only, but after taking my bonus into account & all the deductions, seems like I'm going to have to pay an extra 3.5k to IRB ... =_=;;

/sigh

Argh,

I just realized that having big bonus also bumps up your payable tax by a huge amount. My monthly deductions in 08 were like $140 a month only, but after taking my bonus into account & all the deductions, seems like I'm going to have to pay an extra 3.5k to IRB ... =_=;;

/sigh

Any website can recommend in filling the forms? First job, work for alrdy 1 year, no idea in filling the form....

woww must be a big bonus there...   learn to maximize on exemptions to minimize the tax u have to pay.. btw, an EXTRA 3.5K?? thats a lot..

Of course I could have miscalculated (hopefully), I just did some quick 2-min calculation only. But yea my bonus was about half of my entire year's salary.

Anyway while going through my last year's submission, I suddenly realized that my deduction for life insurance and EPF contributions was left blank! omg! That means I paid too much tax, zzzz. Any idea if I can still go back to income tax office to amend last year's submission?

just a question , do Bank interest consider taxable income as well ?

Of course I could have miscalculated (hopefully), I just did some quick 2-min calculation only. But yea my bonus was about half of my entire year's salary.

Anyway while going through my last year's submission, I suddenly realized that my deduction for life insurance and EPF contributions was left blank! omg! That means I paid too much tax, zzzz. Any idea if I can still go back to income tax office to amend last year's submission?

7 years to be exact. but unlikely that LHDN will look for you when you are not a bigshot earning millions a year. because even though you claim RM1000 (max), the deduction does not make a very big difference in your payable tax.

um, is it okay we discuss this here?

For Malaysia  it is considered tax at source (final tax) so do not declare in the Form BE/B.
Yes you can still make an appeal. Appeal have to be made in writing together with your EA form(for the EPF) and annual life insurance statements/receipts. Your audit officer may also ask for the receipts for anything else you have claimed.