I've decided to declare rental income for the first time when I file my taxes this year. But is LHDN going to be suspicious and ask me if I had earned rental income in the previous years (which I have)? Should I be honest and come clean this year, with the risks of having my past years income audited?

-say tenant run away and can not collect rental and suffer loss as have to pay the utilities bills (LHDN will ask for the utilities bill if u say it is empty and not rented out)

- if bank statement show rental bank in every month that particular year (tenant not run away) then u better go find many repair bills to claim that your tenant always complain during stay eg aircon problem, leaking, door etc. end up no more income.. please remember to deduct rental with bank interest, cukai pintu, management fee, quit rent, insurance, ad, agent fee, transportation to chase/collect rental, inspection, repair etc

- first year tenancy (which ready for tenanted)-- ad, agent fee, reno fee, furniture cant deduct as expense. subsequent years r ok

About to do my tax filing when I stumble this thread. Can we offset bank interest from rental income?

To my knowledge, I didn't know we can do so.

first yr tenancy definitely cannot deduct agent fee..2nd year onwards can..

I checked with LHDN if the bank interest is more than than our tenant rental then no need to declare

U mean on monthly basis?

And LHDN reply is in black & white?

i went to LHDN office last week to check...
because my rental income is around RM1200, and my bank interest (not installment) every month is around RM1200 also....
so he said no need to declared, just keep our the statement if in case LHDN ask for it...

Great, thanks for the info..

if u r smart, pls rent to fren immediate after VP, then ask your fren to write tenancy cancellation (must keep for LHDN incase check) after 2 -3 months blah blah ... so u have only 2-3 months rentals the most, then next tenancy (real one) can deduct agent fee d.

keep some renovation bil (later dates ) said this is repair request for the 2nd tenancy, repair bill can be as expenses.

oh it's works like that..

thanks for the info..

marvelous, thanks!

Thanks for the info.

What about previous year's rental, before 2016? Do you think LHDN would want to audit my previous years now that I have declared rental income?

i think it is all depend if your bank statement show any rental income? every month same amounts? is the online bank/atm transfer recorded your tenant name or just cash bank in? cheque will also record payee.

If u have tenancy agreements and if they are stamped......lhdn already knows u have rental income... so depends on ur luck lo if they decide to audit.

some don't declare the rental income at all.. I mean for fully paid properties

how about them?

can we report & get some rewards

anyone can verified the above the true, because to me, ldhn does not care what is your installment as long as you rent you must be taxed but expenses on renting is another thing, expenses you could deduct

korek

the new candy started 2 years ago and if your combined rental income is rm2000 or below per month (do check actual figure, I could be wrong with 2k per month), then you don't need to declare,

Some rental income more than installment & maintenance cost also don't care to declare...

Thanks to previous regime lack of enforcement...
Now same thing happening...

although a few tried to answer but i've yet to get a solid answer, sorry ha

i go LHDN they ask me go home sleep and dont entertain me at all. ask why i kepo go declare. ask me wait get letter then only come declare