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If you opt for 8%, income tax payable naik?
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zacx
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 Jan 29 2016, 03:14 PM
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New Member
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QUOTE(mohdyakup @ Jan 29 2016, 12:20 PM) Good point. Kena tanya kat kawan aku at LHDN. Thanks Seager for raising this question. I love you. u gaji /k standard doesn't make any difference la. Pelepasan Cukai for KWSP is up to RM6K/year only. So any contribution more than 6K will be taxable, for example if your annual KWSP contribution is 10K than the difference of 4K will be taxable. but for other who have average salary less than ~ 5K/mth (rough figure), they might ended up paying more tax as their "pelepasan cukai" will be even less than before due to lesser KWSP contribution which will be lower than 6K. |
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zacx
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Jan 29 2016, 04:18 PM
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New Member
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QUOTE(Nachiino Etamay @ Jan 29 2016, 03:44 PM) its not 5k. the threshold is RM6k EPF contribution EPF contribution is at least 11%+11%-12% which is 23% of base salary. to achieve RM6k per annum of EPF contribution, your base salary will be RM6k/0.23%=RM26,000 per annum. most people, with one or two month bonus, will get RM26,000 per annum. even graduates. it just rough estimation, if you earn more than 5K/mth, you probably going to contribute EPF more than 6K at the end of the year.... btw, i thot than employer contribution was not calculated in tax calculation only your personal contribution. your calculation at 26K/per annum is not even elligible for tax, i think However, i might be wrong as i haven't need to pay income tax for few years already....  |
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