Hi all sifu,

I am under employment & i am having a RM720k housing loan, recently my father has decided to transfer all his Fixed Deposit (around RM300k) to my loan for principle deduction in order to reduce the interest.

Q1: I heard people were saying if you settle your loan, LHDN will come and audit you. Is this true?

Q2: In this case i have not settle my loan, will LHDN still come and audit me?

Q3: As long as i can prove that the money is come from my father, i will be ok right? I am under an employment.

Q4: My father's income tax, he was a hawker and he has retired - 68yr old. He did declare tax for his business. However, the main portion of his money is come from gamble - Toto 200k, which he have NO document to prove it (didn't photocopy). So if i am to point LHDN to my father, i am just worry they will audit my father. 

In order to avoid Q4, i wish all sifu here can advice me what to do.

Thanks in advance. 

large movement of cash will trigger BNM

at 50k u would already need to fill up a declaration form

dunno what amount would trigger BNM, but heck, last i read news, 2.6b oso did not trigger anything

Thanks for all the replies 


Flexi, ya i dont have enough money to settle, just to reduce interest only. Apart from BNM, will Bank report to LHDN also?

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...

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..

Where can I get the receipt?