How about I pad 2, consider as computer?

There are different opinions given on ipad2; even irb did not state clearly n kinda vague in their explanation

Have 2 question to ask, not sure if someone else asked b4.. did a quick search and found no answer to my question:
If a person buy personal computer in a single but without keyboard, mouse and speaker (only monitor and cpu alone - processor,motherboard, hard disk, memory, dvd writer, casing, power supply), does it consider as computer purchase to be claimed for tax relief?

Multiple receipts can be accepted right?

Thanks.

This post has been edited by CalvinCLK: Jul 24 2011, 09:39 AM

Hi, let's say I am given travelling allowance of RM500/month, do i need to provide receipts to prove that I incurred that amount for work purpose? (RM6k exempted for travelling allowance for work purpose)

in your EA form, your employer has to state under Part G (or H - i forget the alphabet there) that it is not taxable amount; and receipts are not needed

This post has been edited by leongal: Jul 25 2011, 08:14 AM

For sole proprietor salary is not allow from business but how about the EPE that we contribution.Need to add back also?

From IRB Q&A discussion:

With WiFi only - can claim as computer.

With WiFi and 3G - no.

Some others may have confliction info.

Got this from Prundetial Assurance. Is this policy good for returns as I want to take advantage of the ANNUITY TAX RELIEF.

"You now have the option to claim up to RM1,000 for your PRUretirement reward plan under the newly introduced annuity income tax relief. This is in addition to the RM6,000 personal insurance tax relief provided for other life insurance plans you may have"

Hi all, wana ask a question personal income tax with big premium policy.

If let say I buy a RM 40k saving policy, would I need to declare or ?

Whats the taxation rate on retirement gratuity?
Lets say company gives 1 month pay per year of service
Say the total is Rm 750k

Thanks

When come to insurance policy, only include into your personal tax when you can claim as personal relief (a deduction from your taxable income). It is not because of your saving policy of RM40K then you need to declare this as an "income".

The tax rate depends on your total income. There is no specific rate of tax for gratuity.

If you are asking whether your gratuity is tax free, that will depend on:-

- why did you retire? (ill health, compulsory age, etc)
- how long did you serve with the company
- what age did you retire at

Just read this. My company paid up is 500K. I own 30%, father own 35% & mon 35%.. no Bumi involved here

i thought certain retirement gratuity was tax free?

Lets say compulsory at 56 years old
Served for 25 years

Therefore at 1 month pay @30k per year of service gratuity,

= 30 x 25 = 750K

Hows the taxation like?

Thanks

Schedule 6 (income exempted from tax) - para 25(1)(b) Income tax Act 1967:

25. (1) Sums received by way of gratuity on retirement
from an employment-
(a) if the Director General is satisfied that the
retirement was due to ill-health; or
(b) if the retirement takes place on or after reaching
the age of 55, or on reaching the compulsory age of
retirement from employment specified under any
written law and in either case from an employment
which has lasted ten years with the same employer
or with companies in the same group; or
© if the retirement takes place on reaching the
compulsory age of retirement pursuant to a contract
of employment or collective agreement at the age of
50 but before 55 and that employment has lasted for
ten years with the same employer or with
companies in the same group:

This post has been edited by penangmee: Sep 16 2011, 01:21 AM

Looks like its exempted........thanks very much for your kind feedback.

Hi all, being a recent graduate who just got out of college and started working, I have some questions about tax.

I came across this website (http://www.malaysia-kini.com/blog/income-tax/tax-relief/). It states all the tax relief for resident individual, which I suppose is for Malaysian citizen. I have some questions about some of the items.

#1 states RM 9000 for self and dependent. I am not married and have no children. My parents declared bankruptcy some years ago, do they count as my dependents?

#8 states RM 1000 (limited) for purchase of books, journals, magazines, and publications. What does that "limited" mean? I assume I get tax relief for my purchases of books and newspapers? I buy eBooks from Amazon, do they count? How about my Wall Street Journal subscription?

#9 states RM 3000 (limited) for purchase of personal computer. I think it works the same way as #8, right? I heard it's only claimable once every 3 years, correct?

#12 states RM 500 (limited) for subscription fees for broadband. Can I use it for my Maxis broadband?

Assuming that my annual income is RM 30000 and all the above items can be deducted from my annual income, my taxable income will only be RM 16500. Is that right?

Thank you for helping me out!

#1 - You automatically get the 9k relief regardless of whether you have dependents or not.

#8 - As per the Form BE guidebook; "An amount limited to a maximum of RM1,000 is deductible in respect of the purchase of books, magazines, journals or other similar publications (in form of hardcopy or electronic but exclude newspapers or banned reading materials) for enhancing the knowledge of the individual, husband/wife or child." But what's most important is that you have the receipts to support your claims. Limited means that you can claim up till RM 1k only (even if you have spent more than that).

#9 - Limited to RM 3k is the same as the above and 3 yrs must have passed from your first claim in order to qualify for another claim.

#12 - If the broadband account is registered under your name, yes. Do keep the bills to support your claims.

You have other deductions available as well besides the above (e.g. EPF/Life Insurance, Medical & Education Insurance). There's also the tax rebates for individuals of RM 400 if your chargeable income does not exceed RM 35k.

This post has been edited by Dias: Oct 29 2011, 07:46 PM

just wondring does it cover phone with data plan?

Thanks! This is very helpful!