You should receive an EA form from your company. That will show how much tax you paid last year. Taxation is calculated from January to December every year so your receipts should be within that year too.

Donation deductible must be under the "Seksyen 44(6), ACP 1967", which is normally stated in your donation receipt. You MUST have the receipt.

http://www.hasil.org.my/melayu/bm_NO2_1_1D.asp

---

Added on March 4, 2008, 7:02 pmlast yr = 2007, which is declare in this year (2008)

Your company must provide you EA Form, which states (important points):
1) Total income + Bonus + claims + incentive = "Penggajian", as long as it is stated in EA form
2) Total Income Tax deducted = PCB (Potongan Cukai Berjadual)
3) Total EPF paid by employee (not employer)

In BE Form (Individual Income tax without share dividend)
1) = falls under section (C1)
2) = falls under section (F2) - deduction
3) = falls under section (D12) - deduction on employee contribution only

http://www.hasil.org.my/cP/upload/Form/Nya...orangBE2007.pdf

books = section (D8) - deduction
computer = section (D8A) - deduction

Submit it as per the receipt date. i.e. this year 2008, you must declare all income/receipts dated 2007. There are exceptions though, but let's not confuse you.

Clear ? Any questions ?

---

Added on March 4, 2008, 7:09 pm
A tip to share with all, some might already know it:

If you buy those all-in-one life insurance (PA + medical + 36 illness + cr@p + etc.)

Take note on the itemised sub amounts.

e.g. total annual premium = rm1000
Life Insurance = rm700 (Under section D12 + employee EPF)
Medical Insurance = rm300 (Under section D13)

Also take note the max 6k and 3k for D12 and D13.


This post has been edited by cute_boboi: Mar 4 2008, 07:09 PM

Public counters for e-filing tax returns

KUALA LUMPUR: More than 100 public counters will be opened nationwide for members of the public to e-file their tax returns before April 30.

The public counters will be stationed at shopping complexes and workplaces.

After the launch of Service to the Taxpayer Month, Inland Revenue Board (IRB) chief executive officer Datuk Hasmah Abdullah said customer service personnel would assist taxpayers in e-filing their 2007 tax returns.

"Employers with a substantial workforce can also request the IRB station our officers for a few hours to help their employees," she said.

If taxpayers have problems filing their returns, they could also use tax agents. From this year onwards, tax agents will use their passwords to file tax returns for their clients, she said.

"In the past, each individual had his own password," she said, adding that individuals could also use any computer terminal when filing their returns.

Hasmah encouraged taxpayers to electronically file their returns because if there were any refunds to be made, e-file returns could be processed faster.

"It will take about three months to process those who file manually, but those who e-file may get it processed within a month," she said.

Last year, IRB processed 392,457 cases of refunds amounting to RM5.3 bil.

Hasmah said that 874,800 individuals electronically filed their tax returns last year.

"We are hoping that more than a million will e-file their returns this year as more people are familiar with (the process)," she said

URL: http://thestar.com.my/news/story.asp?file=...4612&sec=nation

hello sifus...

hope you guys can help me out here, tax filing return very soon, kencing in my pants d...

anyway, i am self-employed (with a registered enterprise, no sdn bhd)...my question is, should i file a personal return or company?or both oso must? very confused...

any tax agents that can help me? or any sifu here within a reasonable fee? those interested pls PM me...

thanks...

Counters to help public e-File tax returns

KUALA LUMPUR: More than 100 public counters will be opened nationwide to the public to e-File their tax returns before the end of April 30.

The public counters will be stationed at shopping complexes and employees' workplaces.

After the launch of Service to the Taxpayer Month, Inland Revenue Board's (IRB) chief executive officer Datuk Hasmah Abdullah said customer service personnel would assist taxpayers e-File their 2007 tax returns.

"Employers with a substantial workforce can also request the IRB to station our officers at their premises for a few hours to help their employees."

If taxpayers are having problems in filing their returns, she added that they could also use tax agents to e-File their returns. From this year, tax agents will use their passwords to file the tax returns for their clients.

"In the past, each individual had his own password."

Now, she said individuals could also use any computer terminal when filing their returns.

Hasmah encouraged taxpayers to e-File their returns because if there were any refunds to be made, e-File returns would be electronically processed faster.

"It will take about three months to process those who file manually, but those who e-File may get it processed within a month."

URL: http://thestar.com.my/news/story.asp?file=...6930&sec=nation

People know to reduce income tax but do ppl know on how to avoid income tax to be highly chargeable?? is there any method to do that??

personally think that 1 person do more than 1 job is a good way to avoid but make sure that the highest salary for each job should not be greater than 2.5k..

is it the good way to avoid it esp when go oversea like working at spore??

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 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

---

Added on March 5, 2008, 3:52 pmAn advise from my friend, a certified CPA who has worked in Australia, UK and KL for many years.

For those under employment only and no other job, no need to evade tax. There is no way you can escape, as IRB can trace easily through your EPF monthly contribution table. Or they can check through your company contribution, account. Worse, they audit you individually.

To "reduce" tax, you must setup own business.

Singapore has its own taxation system, max at 20% IINM. There is an agreement between MY-SG to avoid double taxation.

---

Added on March 5, 2008, 4:18 pm

Just to share:

http://www.kwsp.gov.my/index.php?hdl=bin&rp=65



http://www.kwsp.gov.my/index.php?ch=p2empl...&ac=439&lang=en

The third schedule shows the amount of monthly EPF contribution from Employer / Employee
e.g. if you are earning basic rm2500 per month, contribution will be:
employer = rm300
employee = rm275
total = rm575

assuming flat rm575 x 12 mths = rm6900

IRB can easily check in EA form = 275 x 12 = rm3300
or
check directly with KWSP / EPF = rm6900
or
check with your company accountant
or
check with Bank Negara Malaysia.

So, basically no escape if you have EPF contribution.



Another e.g. they found out your monthly EPF is rm1150
By refering to the 3rd schedule:
employer = 600.00
employee = 550.00
total = 1150.00

means your basic salary is :
"From 4,980.01 to 5,000.00"

How to escape if you are under employment ?? except some claims/incentive which is not included in EA form or EPF contribution, etc.


This post has been edited by cute_boboi: Mar 5 2008, 04:22 PM

My salary slip have the column for "monthly tax contribution". Wat this mean?

If there is an amount there, it means PCB (Potongan Cukai Berjadual). They have a table to calculate the value, I can't find it yet.

This is to help you to pay tax on a monthly (12x) basis, rather than a lump sump once a year, which may be a burden to some people.

That is why it is important for you to submit the B/BE/etc. forms, and based on the calculation, if there are extra, you can withdraw it out. If insufficient, you just top up a bit only, not big sum of money.

Juz wan to check wif all the Tax Gurus here...

How do you file your tax claim if you have a part-time job (without epf deduction) besides your normal day job??

Basically the part time job you are talking about , is it selling " unit trust" or still working overtime for people on hourly basis ?

All unit trust or insurance agents are deemed to be in " business " of their owns ( whether part time or full time ).

the advatanges are :

1) you can claim for capital allowances , repairs, petrol etc on your vehicle in relation to your business.
2) there are many other expenses like hand phone bills etc that you can claim for " in the production of your business ".

It could be an advantage to put your other earnings ( if significant ) under business income rather mere " other incomes" .

But you have to plan properly like keeping the proper original receipts.

just my 2sen opinion.

This post has been edited by SKY 1809: Mar 6 2008, 01:36 PM

Yup, the part-time job i'm talking here refer to my Unit Trust business....

So, even u have another job u can put it as Business setup tax claim?

Else, like wat u mentioned, put it under other income source?

TS, if you're doing a business, there are many legal tricks to avoid income tax, but if makan gaji, i guess it's harder

makan gaji still can.... collect everything like buying pc, books & mags lol....ask for receipt....

that's why i said makan gaji can only deduct less than doing business......in business, everything can be considered as an expense although for personal use

You have 2 sources of incomes :-

1) from fixed employment, allows set off personal allowances ( very limited )
2) Business incomes - derived from unit trusts, insurance, financial planning etc

For (2) You need to submit with a simple profit & loss statement together with a balance sheet ( can ask any tax agent to do for you. )

Then you can claims expenses relevant to these incomes such car expenses, cap allowance, insurance,interest, office exp, HP bills, electricity etc ( relate to the production of unit trusts business ).

without te accounts , income tax dept may tax you as other source without deducting the expenses.

More works to do but you could end up paying less tax with proper tax planning.

This post has been edited by SKY 1809: Mar 6 2008, 05:32 PM

Yes, with business income, you can reduce the tax. Please take note some deductions/depreciation must be pro-rated or split over X no. of yrs (called amortised ?)

thr are some amt thr. Only having it this month.

that mean, i need to declare tax this years?

I need to ask sifu a few questions....i paid tax almost 1k last year and now i need to claim it..

(i) I wear hearing aids...is that classify under orang kurang upaya ??the hearing aids have been paid quite some time ago by my dad.
(ii) The total income minus epf first rite? and then only deduct the rebate??correct?
(iii) i bought 2 laptops last year..one is 3k plus and another one is 2k plus...should i put the 3k plus laptop to get more claim?

Thanks...

Thanks....shall ask some more info fr my accountant fren