Rugi money just to reduce income tax? You have to be sole proprietor or in perkongsian to do that. Register and keep record will be a bit troublesome, and I don't see point of rugi 100% just to get 20+% back, and it will be illegal to massage the account.

Nope, it is all taxable. Everything come into your pocket is taxable unless stated otherwise, by right, if one collected RM1,000 at the roadside, it is still considered taxable under the law as it is your income. 

Even if your company buy you a phone or give the company to drive around or your personal usage instead give you higher salary, it is still taxable under benefit in kind.

Once one has the full tax relief, then pay the tax lor. Actually one should be glad one is paying more tax, as it just means you are making more money.

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Added on February 8, 2009, 2:59 pm
All including Adun, menteri or PM also need to pay tax.

Please don't treat the finance section as ranting place or kopitiam talk. Occassion making fun in between seems no harm done, but constantly doing it will be seen as spamming.

a) Yes. However, since your home is also your office, you have to apportion such utilities expenses to "personal usage" and "business usage". To do this, perhaps you may want to seek help from Tax Agents. Personal usage are not tax deductible.

b) Yes. If you can list out which airfare/accomodation is related to which sales/client.

Remember, the rule of IRB is really simple. If the expenses is wholly and exclusively for generation of income, that expenses is deductible. So that means that if your bought air ticket to your to-be-client office, BUT you somehow fail to secure a contract from them, that airfare is not tax deductible.

If you need more help, I suppose you should approach a tax agent to assist you. I believe spending the money to the professionals is worth it, especially this kinda tax stuff. 

if follow what ronnie said, then for swimmer a bit disadvantages....many things can't claim...even goggles also can't claim it. i still can swim without it what~

company means Sdn Bhd?

rental can be assessed in either Section 4A or 4D, we must know how many properties are there for rent

the expenses available for deduction would be slightly different between 4A and 4D

generally the expenses deductible are

upkeep of premises(does not include renovation)
management fees
quit rent
assessment
fire insurance or other types
loan interest for the purchase of this property
renewal of rental agreement
etc....

Rental Income can be assessed in 2 ways, either as business income(4A) or other income(4D).  That's my daily job, how can i get confused with that?

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Added on May 10, 2009, 11:12 am
deadline is same as your filing date.  you are already late now, pay immediately and you may suffer less penalty

maybe 10% of your outstanding tax balance, 5% extra if after 60 days.  if i'm not mistaken

but some lucky fellas may run away with that

just the bracket problem... do you need to emphasized on that?  i don't expect her to understand the sections, it's just a simple explanation

since you are not helping then better gtfo, don't try to come here just to increase post counts, the clever as whole

one more thing, i have seen some employment income tax payers ran away from late payment penalties due to they don't have business income, as prescribe by IRB officer.  even so, i also don't advise people to take this kind of risk
IBA is applicable to manufacturing factory/warehouse only.  generally, the expenses incurred can be charged on either side, both is tax deductible provided the factory/warehouse is being used(means not vacant).  it is better to have a rental agreement and the rental charge should be a fair value/market rate to avoid any transfer pricing discrepancy

what u mentioned juz now normally is direct expenses.
for Investment Holding Company there's still got some expenses allow for deduction up to 25% of "permitted expenses". for yr info permitted expenses is under section 60F / 60H