QUOTE(vin_ann @ Jan 1 2009, 10:53 AM)
im also quite blur with the exemption no.2.
is it meaning my streamyx bill can get exemption? but what kind of exemption since it's part of my expenses.
yes its good that streamyx bill can claim for exemption..
by having exemption, of course it is your expenses, but that expenses will not be taxed, which means if total income RM2.5K/month = RM30K/year, only exemption if 11% KWSP and RM8K yearly expenses, your total tax would be RM86.00
but if streamyx bill is allowed for exemption, using same example as above and streamyx bill RM100/month = RM1.2K/year, your total tax would only be RM50.00; that's quite a difference right, especially when it helps to lower your tax bracket.
Added on January 1, 2009, 2:17 pmQUOTE(htt @ Jan 1 2009, 01:09 PM)
I mean first RM24,907 is not taxable. Amount after that is taxable.
But that's based on an individual with taxable income of less than RM35,000. No kid, not married and have no other relief. Each individual might have different figure, that's just some rough indication only.
Last time we use to have trouble to open that account with IRB, maybe they had improved over the years. Or maybe those officers think we will never pay anything towards building of our nation.

hehe sorry again, i still dont get u...

total income per year of more than RM2500 (after deductions) is taxable, in this case only 1% = RM25. but with rebate RM350, it may seem that it is not taxable. but this rebate might be increased,reduced or taken away by the government so it doesn't mean that the income is not taxable. u have to declare your income if you have monthly salary.
and again based on my previous example, after minus rebate and deductions, a person having salary of at least RM2300/month = RM27,600 would have to pay tax..lower than that is covered by the personal rebate.
if yearly salary is RM24,907 don't have to pay any tax as it is covered by the rebate. please correct me if i'm wrong.
p/s: ok i done a bit more of calculations, if your salary is RM2233.33/month = RM26,800 / year, kwsp 11% and RM8K relief, your income tax would be RM0.59
This post has been edited by attahun: Jan 1 2009, 02:18 PM