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 Personal relief Income tax, legally, reduce income tax

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de.crystal
post Mar 10 2011, 07:38 PM

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1. has anyone here done the draft statement?
http://ekl.hasil.gov.my/pcbcalc/pcb_calc_2...&curr_year=2011

When i put RM6k under
Accumulated EPF and Other Approved Funds [not exceeding RM6000 per year] , the error msg appears

2. what is the CURRENT MONTH’S REMUNERATION under the draft form?

3. is it that we are entitled up to 7k rebate under kwsp and insurance?

4. what are the items which we should watch out under relief since the announcement of budget 2010?

This post has been edited by de.crystal: Mar 10 2011, 07:40 PM
SUSDavid83
post Mar 10 2011, 07:40 PM

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QUOTE(de.crystal @ Mar 10 2011, 07:38 PM)
1.  has anyone here done the draft statement?
http://ekl.hasil.gov.my/pcbcalc/pcb_calc_2...&curr_year=2011

When i put RM6k under
Accumulated EPF and Other Approved Funds [not exceeding RM6000 per year] , the error msg appears

2.  what is the CURRENT MONTH’S REMUNERATION under the draft form?

3. is it that we are entitled up to 7k rebate under kwsp and insurance?

4.  what are the items which we should watch out under relief since the announcement of budget 2010?
*
RM 6k max and another RM 1k as annuity:

Insurans nyawa dan KWSP | Terhad | a
Life insurance and provident fund | Restricted to 6,0000


Anuiti tertunda ('Deferred annuity') | b
Deferred Annuity

Jumlah a + b | Terhad
Total a + b | Restricted to 7,000

This post has been edited by David83: Mar 10 2011, 07:44 PM
de.crystal
post Mar 10 2011, 07:50 PM

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QUOTE(David83 @ Mar 10 2011, 07:40 PM)
RM 6k max and another RM 1k as annuity:

Insurans nyawa dan KWSP | Terhad | a
Life insurance and provident fund | Restricted to 6,0000 
Anuiti tertunda ('Deferred annuity') | b
Deferred Annuity   

Jumlah a + b | Terhad
Total a + b  | Restricted to 7,000
*
what is annuity?
why when i put only 6k it says error even put 5.9 oso cant
SUSDavid83
post Mar 10 2011, 07:53 PM

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QUOTE(de.crystal @ Mar 10 2011, 07:50 PM)
what is annuity?
why when i put only 6k it says error even put 5.9 oso cant
*
I'm not sure what system/software you used to key in that figure but e-BE has not error for putting that.

https://e.hasil.gov.my/
de.crystal
post Mar 10 2011, 10:21 PM

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QUOTE(David83 @ Mar 10 2011, 07:53 PM)
I'm not sure what system/software you used to key in that figure but e-BE has not error for putting that.

https://e.hasil.gov.my/
*
i used this link
http://ekl.hasil.gov.my/pcbcalc/pcb_calc_2...&curr_year=2011

what is anuity? how does it work

this is the definition that i got
but i stil dont know how does it work

3. What is a deferred annuity?

A deferred annuity is one in which the annuity payments will commence only at the end of a specified period of years.

The specified period of years is known as the deferred period. The purchase price may be paid either by premiums during the deferred period or by a single lump sum payment at the start.

Premiums are usually refundable with or without interest if the annuitant dies during the deferred period. In addition, there will be surrender values available during the deferred period.

Like immediate annuity, depending on period of payments, a deferred annuity may also be classified as life, guaranteed or period certain annuity.



This post has been edited by de.crystal: Mar 10 2011, 10:28 PM
SUSDavid83
post Mar 10 2011, 10:23 PM

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QUOTE(de.crystal @ Mar 10 2011, 10:21 PM)
i used this link
http://ekl.hasil.gov.my/pcbcalc/pcb_calc_2...&curr_year=2011

what is anuity? how does it work
*
QUOTE
Skim anuiti baru atau tambahan jumlah anuiti sedia ada dan bayaran di buat mulai 01/01/2010 (apa-apa lebihan daripada premium anuiti baru atau tambahan melebihi RM1,000 boleh dituntut dan diambil kira bersama-sama jumlah premium insurans nyawa)


URL: http://www.hasil.gov.my/goindex.php?kump=5...3&unit=1&sequ=1
de.crystal
post Mar 11 2011, 10:34 AM

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QUOTE(David83 @ Mar 10 2011, 10:23 PM)
does that mean if life premium is RM4k but KWSP is RM3k
under life+KWSP, we can only claim for RM6k
then the extra from life premium can be claimed under annuity?
nemo2
post Mar 12 2011, 09:01 PM

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QUOTE(de.crystal @ Mar 11 2011, 10:34 AM)
does that mean if life premium is RM4k but KWSP is RM3k
under life+KWSP, we can only claim for RM6k
then the extra from life premium can be claimed under annuity?
*
Not sure whether i'm answering your question but just to share my understanding on this paragraph...

"Premium on new annuity scheme or additional premium paid on existing annuity scheme commencing payment from 01/01/2010 (amount exceeding RM1,000 can be claimed together with life insurance premium)"

Since EPF & Life is limited to RM6,000 and annuity is limited to RM1,000.
If you have annuity premium of RM3,000 and your EPF & life is RM5,000, you can claim EPF & life RM5,000 and annuity premium RM2,000, that gives you total deduction of RM7,000.

This post has been edited by nemo2: Mar 12 2011, 09:02 PM
simplesmile
post Mar 12 2011, 09:35 PM

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Oh well, it's that time of the year again when we have to file our tax returns.
This is a good thread. The broadband is something new for this year.
Want to ask, medical fee for parents can claim as relief right? Went to a private clinic, paid RM37. Can claim? The receipt is under my mother's name.

Also, I pay for my mom's medical insurance premium. Can claim this as relief as well under medical expenses for parents?

This post has been edited by simplesmile: Mar 13 2011, 05:04 AM
cloud2000
post Mar 13 2011, 12:19 AM

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.

This post has been edited by cloud2000: Mar 13 2011, 06:05 PM
onesky
post Mar 13 2011, 05:54 PM

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Hi all, I have a few questions here. Hope anyone here can help.

i) According to the 'BE form Nota Penerangan', exemptions for travel/petrol allowances are given as follows:
* RM2,400 for home/office travel
* RM6,000 for business travel


So let's say section B in EA form
1. Gaji kasar: 50000
2. Nilai kereta dan petrol: 2400
...
Jumlah: 52400

Do we just put 50k as the income?

ii) For 'nilai manfaat electrik, air dan telefon', how do we deduct it? According to Nota Penerangan, it says terhad kepada 1 asset/talian. Does it mean I can also ignore this?
If income tax department wants me to prove, I just request it from Account department, right?

iii) Where do I deduct amount in section G of EA form into e-filing?

Thanks in advance.
DM3
post Mar 17 2011, 05:17 PM

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combine spouse income/join assement got 3k rebate still ?
deodorant
post Mar 17 2011, 10:07 PM

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ARGH

I switched jobs in Oct 2010, and the new company didn't deduct my PCB for the 3 months (they started deducting Jan 2011 onwards). Dapat gaji that time didn't notice, now only notice. So end up I need to pay LHDN like almost 2k for this year's filing cry.gif

Also I pay broadband but the bill/acct in my dad's name ... so he gets the rebate (aha).

Also I bought a computer last year to relief, but after looking back at my previous year's submissions sh*t i miscalculate, actually I only eligible to claim in 2011 cos I last claimed in 2008 ... sad.gif
SUSDavid83
post Mar 17 2011, 10:09 PM

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QUOTE(deodorant @ Mar 17 2011, 10:07 PM)
ARGH

I switched jobs in Oct 2010, and the new company didn't deduct my PCB for the 3 months (they started deducting Jan 2011 onwards). Dapat gaji that time didn't notice, now only notice. So end up I need to pay LHDN like almost 2k for this year's filing cry.gif

Also I pay broadband but the bill/acct in my dad's name ... so he gets the rebate (aha).

Also I bought a computer last year to relief, but after looking back at my previous year's submissions sh*t i miscalculate, actually I only eligible to claim in 2011 cos I last claimed in 2008 ... sad.gif
*
You meant that you're planning to claim for last year (2010) computer purchase relief in YA2011? Possible?

This post has been edited by David83: Mar 17 2011, 10:09 PM
deodorant
post Mar 17 2011, 10:16 PM

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QUOTE(David83 @ Mar 17 2011, 10:09 PM)
You meant that you're planning to claim for last year (2010) computer purchase relief in YA2011? Possible?

Nah, what I meant is that if I had checked properly, I would have bought my comp in 2011 instead of 2010 sad.gif
ronnie
post Mar 17 2011, 11:15 PM

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QUOTE(deodorant @ Mar 17 2011, 10:16 PM)
Nah, what I meant is that if I had checked properly, I would have bought my comp in 2011 instead of 2010 sad.gif
*
You can still buy another computer in Year 2011.... the new MBP looks yummy drool.gif
nemo2
post Mar 18 2011, 12:18 AM

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QUOTE(DM3 @ Mar 17 2011, 05:17 PM)
combine spouse income/join assement got 3k rebate still ?
*
Yes, only in combined assessment. rclxms.gif
simplesmile
post Mar 19 2011, 09:47 AM

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QUOTE(simplesmile @ Mar 12 2011, 09:35 PM)
Oh well, it's that time of the year again when we have to file our tax returns.
This is a good thread. The broadband is something new for this year.
Want to ask, medical fee for parents can claim as relief right? Went to a private clinic, paid RM37. Can claim? The receipt is under my mother's name.

Also, I pay for my mom's medical insurance premium. Can claim this as relief as well under medical expenses for parents?
*
Anybody? Please help. Plan to e-file by this weekend.
penangmee
post Mar 19 2011, 10:23 AM

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QUOTE(simplesmile @ Mar 12 2011, 09:35 PM)
Oh well, it's that time of the year again when we have to file our tax returns.
This is a good thread. The broadband is something new for this year.
Want to ask, medical fee for parents can claim as relief right? Went to a private clinic, paid RM37. Can claim? The receipt is under my mother's name.

Also, I pay for my mom's medical insurance premium. Can claim this as relief as well under medical expenses for parents?
*
Q1 - Yes, If required have to show birth cert.

Q 2 = No, medical insurance = NOT medical expenses

This post has been edited by penangmee: Mar 19 2011, 10:23 AM
prettyboy
post Mar 20 2011, 09:22 AM

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hi guys, for the relief to education fees, if i go to those external language classes can i claim for relief?

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