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Will LHDN Audit Me? Loan Not Settle, Huge Principle Deduction RM300k
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arrsoo
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 Jul 28 2017, 10:33 PM
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QUOTE(nexona88 @ Jul 28 2017, 10:29 PM) I know tax payers needed to keep record... But still LHDN got link one.. Unless they trying to achieve some KPI... So find fault on people... No wonder their collection past year breaking record...
Now also very active in "catching" people who under declare  or others.. This...I totally agree. not only due to KPI but bcos gov not enuf manee |
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nexona88
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Jul 28 2017, 11:19 PM
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QUOTE(puchongite @ Jul 28 2017, 10:32 PM) I don't know if one person shows a whole bunch of lottery receipts, what can the inland revenue officer do ? There is nothing which says a person cannot strike lottery multiple times right ?  Hahsha True also... Luck in his/her side  |
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SUSalexcky
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Jul 29 2017, 08:31 AM
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U so lucky bro
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abhipraaya
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Jul 29 2017, 11:12 AM
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720k loan ...wow
How much do you have to pay monthly ?
Even with a 5 figure salary I will be having sleepless night with such a huge outstanding loan.
So much interest gets paid to the bank and quality of life will be affected with such a heavy burden.
Not sure how you manage it.
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icemanfx
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Jul 29 2017, 12:17 PM
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QUOTE(nexona88 @ Jul 28 2017, 08:46 PM) The Toto is legal one right?? Somehow sure LHDN would have record.. Also for FD too.. So don't worry much... Can also transfer slow slow.. Small amount, if still scared... As for your question previously... Banks sure have link to BNM.. They the one will give report... QUOTE(puchongite @ Jul 28 2017, 10:14 PM) That's why toto price receipt is something very valuable. People willing to pay for the receipt. QUOTE(arrsoo @ Jul 28 2017, 10:20 PM) LHDN might hv the records if his dad really strike TOTO legally but then again onus is on the tax payers to keep records. Lhdn could obtain prize winner name, ic and prize amount.from Toto. |
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Kaka23
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Jul 29 2017, 12:20 PM
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QUOTE(abhipraaya @ Jul 29 2017, 11:12 AM) 720k loan ...wow How much do you have to pay monthly ? Even with a 5 figure salary I will be having sleepless night with such a huge outstanding loan. So much interest gets paid to the bank and quality of life will be affected with such a heavy burden. Not sure how you manage it. If with salary >20K, should be ok... |
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billyboy
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Jul 29 2017, 09:17 PM
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don't pay down the loan. interest cost about 4.5 to 5% ? its cheap money.
look for another rental property giving a yield of about 6 to 7% and buy it. take as much loan as possible.
mathematically the second property will help cross-subsidize the first property. Income tax will not query as you have actually double up your loan.
it only pays to pay down the loan if you cannot find an investment greater than your housing loan cost. in malaysia, rental property near lrt / mrt is a safe bet.
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pinotnoir
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Aug 2 2017, 10:21 PM
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Getting Started
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QUOTE(puchongite @ Jul 28 2017, 10:14 PM) That's why toto price receipt is something very valuable. People willing to pay for the receipt. Where can I get the receipt?  |
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gogocan
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Aug 2 2017, 11:41 PM
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U will be safe but your father will get the brunt..unless he can prove the source of that money..be prepare for huge additional tax.
People always keep their winning ticket for safekeeping especially involving large amount.
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arrsoo
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Aug 3 2017, 03:35 PM
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QUOTE(pinotnoir @ Aug 2 2017, 10:21 PM) Where can I get the receipt? you got to find jalan to buy it. not easy |
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