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 Personal relief Income tax, legally, reduce income tax

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w3sley
post Dec 22 2019, 02:09 AM

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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!
w3sley
post Dec 22 2019, 10:50 AM

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QUOTE(MUM @ Dec 22 2019, 08:56 AM)
Will you be submitting form B, Be or?
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BE. What's the criteria to fit B other than being insurance agent? Thank you for the reply
w3sley
post Dec 22 2019, 11:27 PM

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QUOTE(MUM @ Dec 22 2019, 11:34 AM)
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
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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?

QUOTE(neverfap @ Dec 22 2019, 02:20 PM)
None too. Previously saw someone posted in Lyn I think. But not official, just random comment/post
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Yes, any idea? Anyone able to clarify? Thanks!
w3sley
post Dec 22 2019, 11:49 PM

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QUOTE(MUM @ Dec 22 2019, 11:38 PM)
Lifestyle tax relief ls every year max rm2500.. Subjected to the condition per that link
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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?
w3sley
post Dec 23 2019, 11:27 PM

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QUOTE(MUM @ Dec 22 2019, 11:56 PM)
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.
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So for lifestyle category on mobile or PC purchase can be done yearly at rm2500 limit right? Does smart watch considered as one?


w3sley
post Dec 28 2019, 01:11 AM

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QUOTE(MUM @ Dec 24 2019, 12:02 AM)
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?
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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?
w3sley
post Dec 28 2019, 10:32 PM

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QUOTE(MUM @ Dec 28 2019, 01:37 AM)
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
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This link , https://www.comparehero.my/budgets-tax/arti...come-tax-relief

Noted and Thank you for the reply!

QUOTE(lucifah @ Dec 28 2019, 10:52 AM)
tax relief = minus whatever on your CHARGEABLE amount

tax rebate = minust whatever amount on your tax

so tax rebate is more valuable than tax relief most of the time
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Thank you for the reply TS. So Tax rebate for individual rm400 and from the tax calculator, Socso also deduct on the amount after tax so total will be rm650 right? Just to verify. Thanks!

w3sley
post Dec 29 2019, 05:15 PM

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QUOTE(rapple @ Dec 29 2019, 11:37 AM)
Tax rebate is for individuals with less than 35k chargeable income.
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Thanks @rapple for the heads up!

QUOTE(wayton @ Dec 29 2019, 01:26 PM)
Socso rm250 is tax relief, not tax rebate.
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Yes but I not sure why its deducted after taxed income in The PCB calculator by lhdn.

http://calcpcb.hasil.gov.my/pcb_calc_2019....&curr_year=2019
w3sley
post Dec 31 2019, 08:51 AM

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QUOTE(yklooi @ Dec 30 2019, 10:30 PM)
jfyi, Comparehero amended the 3 years once for computer....
now it reads (annually) instead of 3 yrs once.
https://www.comparehero.my/budgets-tax/arti...come-tax-relief

wow, that correction was "fast" and someone is monitoring these chats  innocent.gif  devil.gif
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Wow, thanks for sharing! Yes, definitely there's someone here. haha

Best wishes for the last day of 2019!

 

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