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 Personal relief Income tax, legally, reduce income tax

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MUM
post Sep 20 2016, 09:29 AM

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QUOTE(aaron4d @ Sep 20 2016, 08:50 AM)
Ok, so does this mean I can go ahead and buy the car first, and then declare taxes for the following year? Btw planning to put d/p around 25% for an 85k car. Will this raise flags?

I also forgot to mention that I was overseas for 6 months previously while working in this job. Will this factor in to amount of income tax payable?
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you needed abt 60K car loan,...
hmm.gif without proof of stable income like EPF, income taxes.....

MUM
post Mar 18 2018, 08:27 PM

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QUOTE(blibala @ Mar 18 2018, 08:17 PM)
Some told me can't. So dont know which one is correct answer.
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googled and found this...

b) Must the medical expenses be incurred at, or paid to, a government hospital or clinic?
Can treatment at a private hospital or traditional Chinese treatment/medical hall qualify for deduction?
https://www.facebook.com/LHDNM/posts/471449089590711


MUM
post Mar 25 2018, 12:15 AM

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QUOTE(TeeKanne @ Mar 24 2018, 09:52 PM)
Medical expenses for serious diseases for self, spouse or child

http://www.hasil.gov.my/bt_goindex.php?bt_...sequ=1&bt_lgv=2

What kind of serious diseases? Is there a list?
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while waiting for responses....I googled and found this.
hope it is still relevant and can provide some info while you wait...
http://lampiran2.hasil.gov.my/pdf/pdfam/BE...Guidebook_2.pdf
MUM
post Apr 10 2018, 07:08 AM

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maybe he/she meant this?





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MUM
post Apr 23 2018, 09:48 PM

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QUOTE(iamnew @ Apr 23 2018, 09:38 PM)
Help guys! If i am an employee for a company and i do part-time business (registered as sole-proprieter) , should i do e-filing for part time business and if yes which borang? Borang e-be (tiada punca perniagaan) or borang be (ada punca perniagaan)?

I tried borang be but it says:  ""Anda telah menukar jenis borang dari e-BE kepada e-B. Semua maklumat pendapatan dan HK-6 (sekiranya ada) akan dihapuskan.
  Sila klik OK untuk teruskan atau klik BATAL untuk membuat pilihan e-borang yang lain.""

HELPPP ...
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while waiting for responses, I googled and found this....
hope it is clear and valid.
"If you have your own business, you should register as ‘Individual with business income‘ even if you’re still employed – ideally you should have your business registration information and certificate ready. See #2."
https://ringgitohringgit.com/tax-guide-onli...ss-in-malaysia/

Type of form definition...
http://lampiran1.hasil.gov.my/pdf/pdfam/Sc...ion_of_ITRF.pdf
MUM
post Jul 18 2019, 08:29 PM

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QUOTE(simplesmile @ Jul 18 2019, 08:15 PM)
1. Parents relief.
What to ask, if my parents have income, then can I still claim the RM3k parent relief?

2. What is a "full medical check up"?
I Googled. The hospitals provide so many types of health check packages. Which one is considered "full" check-up?
3. Education. This one is weird.
Education Fees (Self)
(i) Other than a degree at Masters or Doctorate level-for acquiring law, accounting, Islamic financing, technical, vocational, industrial, scientific or technological skills or qualifications;
(ii) Degree at Masters or Doctorate level-for acquiring any skills or qualification

Wouldn't (ii) overried (i)?
(i) says law.. accounting, cannot claim.
(ii) says everything can claim.
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1. Parents relief.
What to ask, if my parents have income, then can I still claim the RM3k parent relief?
c) Monthly income that does not exceed RM2,000 or yearly income that does not exceed RM24,000 for the father or mother means any income that is obtained from salary, business gains, pensions, interest (including interest from fixed deposit) and etc.
Read more at https://www.thestar.com.my/opinion/letters/...YpawltFPwQi2.99

2. What is a "full medical check up"?
> What are the tests we need to do to be considered for tax relief under “full medical check-up”?
A complete medical examination or full medical check-up is defined by the Malaysian Medical Council (MMC) as:
1. Physical examination: checking weight, blood pressure, eyes, ears, nose and throat, examining your neck for the size of the thyroid gland and any enlarged lymph nodes, listening to your chest and heart as well as breast and abdominal examination;
2. Laboratory tests: blood tests, urine analysis and pap smear. Blood test checking on your cholesterol level, thyroid hormones, complete blood count; and/or
3. Consultation by attending doctor

Read more at https://www.thestar.com.my/news/nation/2012...GYU8pT6hHsDt.99

Education Fees (Self)
i) is not a degree....undergraduates diplomas of other field?
ii) is Degree....
https://ringgitplus.com/en/blog/Personal-Fi...ly-Are-Not.html

MUM
post Dec 9 2019, 11:07 PM

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QUOTE(fastreader @ Dec 9 2019, 11:03 PM)
What is meant by takaful insurance? isit different from Life insurance? or takaful insurance also has elements of life insurance in it? Thanks
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What Is Takaful And How Is It Different vs Conventional Life Insurance?
https://www.comparehero.my/insurance/articl...-life-insurance

https://www.takaful-malaysia.com.my/sme/faq.pdf

https://www.google.com/search?source=hp&ei=...131.v8MDV6AqDfc
MUM
post Dec 22 2019, 08:56 AM

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QUOTE(w3sley @ Dec 22 2019, 02:09 AM)
Hi guys, where to find further details on tax waiver? For eg. I rmb last time for entertainment, can only claim once per 2 year or smth like that. Can please share the link? Thanks!
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Will you be submitting form B, Be or?
MUM
post Dec 22 2019, 11:34 AM

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QUOTE(w3sley @ Dec 22 2019, 02:09 AM)
Hi guys, where to find further details on tax waiver? For eg. I rmb last time for entertainment, can only claim once per 2 year or smth like that. Can please share the link? Thanks!
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QUOTE(MUM @ Dec 22 2019, 08:56 AM)
Will you be submitting form B, Be or?
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QUOTE(w3sley @ Dec 22 2019, 10:50 AM)
BE. What's the criteria to fit B other than being insurance agent? Thank you for the reply
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for BE tax relief....
try this
start from part F, page 11
http://lampiran1.hasil.gov.my/pdf/pdfam/Ex...es_BE2018_2.pdf

I don't think there is any relief for entertainment....

on this "What's the criteria to fit B other than being insurance agent?"

Q1: Who needs to furnish Form B?
A1: Form B needs to be furnished by an individual who is resident in Malaysia and carries on a business.

examples....
housing agents, small business, private tutor, etc etc....?

http://lampiran1.hasil.gov.my/pdf/pdfam/FA..._11042011_1.pdf


MUM
post Dec 22 2019, 01:20 PM

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QUOTE(neverfap @ Dec 22 2019, 12:40 PM)
I think he meant the lifestyle expenses tax relief
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In that case.... I think there Cannot find which/what items in the lifestyles tax relief that only can claim 2 yrs once...
Do you know of any?
MUM
post Dec 22 2019, 11:38 PM

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QUOTE(w3sley @ Dec 22 2019, 11:27 PM)
Thank you for sharing the pdf, just the one I am looking for but unable to find the terms and conditions if its annually or 2year once?

Yes, any idea? Anyone able to clarify? Thanks!
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Lifestyle tax relief ls every year max rm2500.. Subjected to the condition per that link
MUM
post Dec 22 2019, 11:56 PM

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QUOTE(w3sley @ Dec 22 2019, 11:49 PM)
Hi MUM, thank you for the prompt reply.

Is there restriction like can only claim once for 2year?
Eg. Can only claim purchase of computer or phone or tablet once per 2year?

For mobile plan, can the total including call and data be considered or only the plan itself?
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Read clause F8 ...page 13 of that link
the answer is there.....

found this 2 yrs once item....
F9 Purchase of breastfeeding equipment for own use for a child aged 2 years and below
......
(d) This deduction is only allowed ONCE in every two (2) years of assessment.

This post has been edited by MUM: Dec 22 2019, 11:58 PM
MUM
post Dec 24 2019, 12:02 AM

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QUOTE(w3sley @ Dec 23 2019, 11:27 PM)
So for lifestyle category on mobile or PC purchase can be done yearly at rm2500 limit right? Does smart watch considered as one?
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This RM2500 limit, is that the limit spelled out for that category in that link?
does it also spell out smart watch in that link?

This post has been edited by MUM: Dec 24 2019, 12:53 AM
MUM
post Dec 28 2019, 01:37 AM

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QUOTE(w3sley @ Dec 28 2019, 01:11 AM)
No smartwatch but I saw Comparehero mentioned 3years once for computer.

One more question, tax rebate is deducted from gross income or the net tax amount?
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The 3 yrs once on computer is "old" tax relief... Now is under lifestyle... Check the compare hero article again for when it was written?
My wild guess is...
Tax rebate is deducted net off tax amount,
Tax relief is deducted from gross income
Now on hp cannot Google... If you want to know precisely the different... Google tax rebate n tax relief

This post has been edited by MUM: Dec 28 2019, 01:40 AM
MUM
post Dec 29 2019, 12:10 PM

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QUOTE(Smurfs @ Dec 29 2019, 12:08 PM)
According to LHDN website, the "Complete medical examination for self, spouse, child" tax relief has been removed since Year of Assessment 2018.

http://www.hasil.gov.my/bt_goindex.php?bt_...sequ=1&bt_lgv=2
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item 7 of your link?
7 Complete medical examination for ................

This post has been edited by MUM: Dec 29 2019, 12:11 PM
MUM
post Jan 13 2020, 05:56 PM

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QUOTE(sleepybaba @ Jan 13 2020, 05:06 PM)
Hi,
I'm a newbie with personal income tax relief.

There's a few question that I would like to ask:-
1. Does Life insurance bought overseas entitled for the tax relief?
2. Can travel insurance be considered as medical insurance?

Thank you in advance
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Just asking... Does the receipt or payment document of those insurance policies states the actual amount paid for life insurance and the actual amount paid for medical insurance? These amount is not the same as the premium amount paid....
MUM
post Jan 13 2020, 08:20 PM

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QUOTE(sleepybaba @ Jan 13 2020, 08:04 PM)
They didn’t state. I can only see the Premium paid. If that is the case, what would you suggest?
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what I read from past postings from forummers are
insurance companies would provides tax statement to policy holders somewhere in Mar.
in this statement it has separate amount that are allocated for Life and Medical.
(see example in the below link too)

we will use that amount to submit for tax relief for that separate tax relief clause.

if you don't have the stated amount...how are you gonna submit for tax relief?
hmm.gif thus i would suggest you check with LHDN?

btw,....regarding your travel insurance....
(g) premium for waiver benefit rider and travel and medical expenses insurance are not allowable as a tax deduction.
https://howtofinancemoney.com/malaysian-income-tax-relief

This post has been edited by MUM: Jan 13 2020, 08:26 PM

 

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