Tax relief due to retrenchment
|
|
 Mar 14 2017, 05:42 PM, updated 8y ago
Return to original view | Post
#1
|
 
Junior Member
882 posts Joined: Nov 2004  
|
Hi, I got retrenched in March 2106 and since then I could not get a job in MY. I was told by the HR that I can file for tax relief due to retrenchment. However, I could not find this option in the BE form. May I know how to go about this? Thanks.
|
|
|
|
|
|
Mar 14 2017, 05:53 PM
Return to original view | Post
#2
|
|
Junior Member
882 posts Joined: Nov 2004
|
QUOTE(sunami @ Mar 14 2017, 05:49 PM) what kind of tax relief you are looking for? This compensation is exempted from tax If compensation received is due to ill health Compensation received in other cases: Termination before 1st July 2008 - exemption of RM6,000 for every completed year of service with the same employer or with companies in the same group Termination on or after 1st July 2008 - exemption of RM10,000 for every completed year of service with the same employer or with companies in the same group |
|
|
Mar 14 2017, 06:40 PM
Return to original view | Post
#3
|
|
Junior Member
882 posts Joined: Nov 2004
|
QUOTE(SmallPenguin @ Mar 14 2017, 05:54 PM) Did you receive any compensation or gratuity from your previous company? It's taxable but it also has exemption. I think there's no personal relief for retrenchment. Only if you have a family, your wife/husband doesn't work, then under joint assessment, you can deduct for RM4k only. First year learning tax, don't blame me if I'm wrong. Just trying to help.  QUOTE(SmallPenguin @ Mar 14 2017, 05:57 PM) Yes, compensation is a part of your gross income in Section 13 (1)(e), you can deduct for this one. Thank you so much. I'll take a look at it right now!But if you got gratuity, it goes to Section 13 (1)(a). RM1k for each completed year of service |
|
|
Mar 14 2017, 07:24 PM
Return to original view | Post
#4
|
|
Junior Member
882 posts Joined: Nov 2004
|
QUOTE(kucinggemok @ Mar 14 2017, 07:12 PM) U can just follow the amount as per ur ea form Agree. there is already an item for "5. Pampasan kerana kehilangan pekerjaan"... |
|
|
Apr 13 2018, 01:04 PM
Return to original view | IPv6 | Post
#5
|
|
Junior Member
882 posts Joined: Nov 2004
|
QUOTE(PrincZe @ Apr 8 2018, 04:04 PM) did you get tax clearance form since u have been retrenched? and if no need to pay anything, just fill up as usual as per your EA form Sendiri declare RM10K deduction. Make sure you keep the retrenchment letter.... |
|
|
Apr 13 2018, 04:08 PM
Return to original view | IPv6 | Post
#6
|
|
Junior Member
882 posts Joined: Nov 2004
|
QUOTE(PrincZe @ Apr 13 2018, 01:37 PM) Sendiri declare only if u need to pay. Or get a refund. They refunded me over 20K that year. |
| Change to: |  0.0223sec
 0.55
 7 queries
 GZIP Disabled
Time is now: 4th December 2025 - 04:41 AM |
Quote