Aku nak beli kereta, mana lg bgus under syarikat or personal? Kenapa?

Selamat berbuka!

Personal cheaper road tax (and insurance too iianm). Then get your company secretary to write reso to bring in your personal car into company.

Comp better, all expenses put under company.

So i can put all expenses under comp?

If company making profit then sure. If not, don't bother.

Under syarikat can claim as expenses.

btw ur is ent or Sdn BHD ?

Can. But usually tax agent will disallow some of those expenses for tax computation purposes, but better than nothing.

U need to calculate depreciation, higher insurance, the car cannot take home at night, need put company name on car, cannot use during weekend n public holiday.

Y cannot take home at night, use during weekends public holiday?

A lot of my friends with family business all their cars under company name but use car like its a personal car..

what load of bullshit u talking about?

do you actually owned a company car before commenting?

Well if u do that, u need to add Benefit in Kind to ur personal income tax. Which means u pay more personal tax. Of course alot malaysian abuses this loophole, and doesnt report the BIK.

A small extract from this blog :

http://kensomuse.com/blog/2014/05/13/priva...ng-company-car/


But that’s not all. In my last job, I was given a company car and I was surprised to see an item called Benefits In Kind (BIK) registered on my EA form. Essentially, any vehicle provided by the employer for the personal use or enjoyment by the employee is considered as BIK. I argued that the company car was provided to me for sales visits and I had another vehicle at home for personal use – until I was told that if I drive the vehicle home, it’s considered as personal use. And the amount is not small. This is significant because for those who doesn’t earn that much as a sales/front line personnel, the few extra thousand in the EA could potentially push them into another income bracket with a higher taxation rate, and you don’t really have cash to show for it.

Sorry i dont own a company car.. Do u?

Is it true that u need to put Benefit in Kind in your personal income tax if u use a company car? True or false?

if u dont pls dont speak up or comment something you have no clue of.

yes i do and in fact most my cars are owned by my company.

if your company has the credibility, why not park the cars under company where is deductable under company expense and Insurance is even lower if you own several company cars under multiple car rates.

Yes my company is adn bhd

What do u mean by credibility?

just answer me first. if i use a company car , i need to add it back as Benefit in Kind in my income tax. True or false??

you are business owner, but i think you not familiar with accounting. this is not criticism, i just wanna ask whether you know about Benefit in Kind.

This post has been edited by pisces88: May 27 2018, 08:45 PM

I tot ppl buy company car to avoid taxes?

Cabut lol

puffyballzzz again, i just wanna ask you about BIK, and tax implications to person using the car. is the below true or false?

i save you the trouble of google-ing:

Motor cars provided by employers are taxable benefit in kind :
So going back to Questions (1), the benefits on the value of private use of the car and petrol provided is benefit-in-kind and taxable to the person receiving the benefit. A car which is provided to the employee is regarded to be used privately if:

It is used for travelling between the office and the employee’s home; and

It is kept at the employee’s home where the motorcar can be used by the employee or his family.

I would suggest you not arguing with someone who's a regular in the finance section. he knows his shit

hello what u compare is COMMERCIAL vehicle not Company car ..... even both under company property.

doesn't means right ....

commercial vehicle? no la bro.. its for 'consumer' vehicles / car, if you want to put it that way

please, kindly read here... Summary: This person was provide a Camry by his company

http://www.yycadvisors.com/tax-treatment-o...-employers.html


if i misunderstood the meaning, please advise me.. i really want to know, im not looking to win an argument if my facts are wrong im not saying im right, im just stating what i read and understand.

This post has been edited by pisces88: May 27 2018, 09:15 PM

When you are given a company car, it is considered a perk. Any perk(s) has monetary value and it is taxable income.

There are many ways to formulate this and scenarios. I am not your company’s accountant thus I am unable to give you an appropriate answer to your question.

Let me ask you back this question. As an employee with personal car, would you use your own car as mode of transport for your sales activities or use a company car that is fully paid for eg cost of car, petrol & maintenance?

If u want to put under company but use for personal can..but then that is a benefit provided to you..which in income tax is considered as benefit in kind.

If u are a entrepreneur, u can buy a personal car and put it for business usage, but then when it times to declare your tax, still need to pro rate the expenses between personal & businesa usage.

And then the is limitation to claim capital allowance for car above RM100k and RM 150k

ur question is weird.. but i will use company car.

If i use company car for sales activities, and use it to travel after working hours or going home with the car, then i need to declare BIK (personal tax). True or false?

popcorn ready !

Not a weird question after all. Anything you take from company that makes you feel good is taxable.

To answer your question, if you take the company’s car home is taxable. If you return the car to the company after work if not taxable. I have a chauffeured car and my driver is not taxed because he returns the car to the company after work and ride his bike home.

Hope my answer helps with your confusion.

Hahah ur answer actually explains why i said you cannot bring the car home and during weekends, or else will have BIK in ur personal income tax. Which u earlier said was wrong and say i bullshit..

biar. popcorn material ni

There's a difference between a company car owned by u AND a company car under company not own by u ^^

Ah i see u know ur shit too hahaha

u need to ask hapseng accountant for it ... they give i drive with their CARD.
for my personal company car, u need to ask my accountant for it (which i might able to help, but she currently in business tour in Jap) ...

but can be own by you after 4 year Depreciation (30%+30%+30%+25%) good prices to own

org datang tolong tu, say thanks sudah la

Its ok bro.. Previously decided nt gonna buy under company after all considerations of CA, disposal income, maximum claimable etc.

I may not have to further explain myself and indeed what you stated earlier is completely bullshit. Pls read the topic tittle if he should buy a car under company or personal.

Speaking of which, he is the director and buying a car under company would greatly benefit him wherelse you as an employee applies to a whole different scenario.

Boleh bawa balik la and use it whenever you like it.

ah! now i see what u are getting at!

so next will be , if the director uses a company car, does he include BIK in income tax? can it be ignored if the director is not taking a salary? genuine question.

of course from company owner point of view, it benefits the company. But as a director declaring personal income tax( after including benefit in kind), doesnt he incur more tax? up to 20+% vs 19% company tax? again genuine question.

I was given a company car to drive, I can drive it for personal usage, home, weekends etc.

and yes the car was stated in my EA form under Manfaat Berupa Barangan, I guess this was the BIK?

and also yes it raises my income bracket, means more tax I guess.

Yup that is BIK

What kind if bullshit is this, TS ask a simple question, and definitely he is the company owner. As in my case I declared it as Benefits yet the 'saving' outweigh the taxes charges, etc. As a profit making company what bullshit we want to calculate insurance, road taxes, depreciation etc

Lol! If an employer/director uses a company car meaning the car is under the conpany’s name and not under the director’s name. It has nothing to do with the director therefore why should a director be taxed??

Also, if a director is not taking a salary it is best not to look into buying a car or best just wind up the company.

Pls refrain yourself from commenting further with your level of intellectual and understand that directors are special breed of taxpayers.



This post has been edited by puffyballzzz: May 27 2018, 10:58 PM

Oh, you mean that company directors have special treatment under our tax laws? Would these include independent directors, too? Do tell.

No similar specific provision has been enacted to tax benefits such as the use of a car. Thus, a director who has been provided the use of a car might argue that this benefit is not convertible into money and he should pay no tax on it.

Hahahah okok

i think you meant non-executive directors are special breed of taxpayers.

So let me rephrase: if the executive director uses a company car which belongs to his/her own company.. he/she doesnt need to declare BIK in his/her income tax even if he/she takes a salary from the company? or need to?

This post has been edited by pisces88: May 27 2018, 11:17 PM

This.

Duno why some ppl comment cant take home yada yada.. Stupid or what?

Also most rich friends I know buys everything under company.

This post has been edited by Davez89: May 27 2018, 11:15 PM

Be thankful for the serious explanation from expert here

Since this is k/tard I expect people will laugh here

I have my reasons to laugh, but im thankful if got experts who can give input