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Personal relief Income tax, legally, reduce income tax
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cheezels21
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 Apr 19 2009, 11:18 PM
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New Member
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QUOTE(penangmee @ Apr 19 2009, 11:35 AM) For dividends from shares either 25/26% you will have to declare it and can claim back refund if aplicable. If you are at 27% then you will have to pay the extra 2 or 1%. REmenber if did not declare and later detected at audit then penalty is at minimum 45% of tax. Is it true that all dividends have to be declared? Someone did tell me that I do not need to declare the dividends if I've no intention of claiming a refund or when dividend is taxed the same rate as my tax bracket. Can someone clarify this? Also, on sporting equpment tax relief, are racquets included? One article did say that only 'consumables', i.e. balls, shuttlecocks, etc, is claimable whereas 'long lasting' equipment such as racquet is not included. Thanks |
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cheezels21
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Apr 24 2009, 02:41 PM
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New Member
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QUOTE(ronnie @ Apr 24 2009, 09:00 AM) Insurance companies would send a yearly statement for the amount paid for Life Insurance and Medical/Education insurance for tax submission purposes. Does anyone know how should the insurance be calculated especially with things like riders? For example, in my insurance policy, certain portion is clearly stated as life, one item is for medical but there is another portion that is life/medical. It says life is 100%, medical is 60%. So, if the amount for medical/life is RM1000 - does that mean i can apply RM1000 in the tax relief under life insurance and at the same time RM600 under medical insurance? Or I need to select or choose whether to apply under life or under medical? |
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cheezels21
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Apr 24 2009, 05:01 PM
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New Member
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QUOTE(nothingz @ Apr 24 2009, 02:49 PM) you can either claim RM1000 under life insurance or RM600 in medical insurance provided it shows life/medical this is very common in the Great Eastern Insurance Statement for ING, you will see Critical Illness too, same rule applies. please refer to the back of the insurance statement ok, thanks. So I should claim in either category and not both.... |
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