Hey guys, just want to enquire a little dilemma I am facing.

I normally conduct house calls and majority of my patients have been paying me in cash so over time I have collected a sum of money in cash form which I cannot keep in my house as there have been a spite of breakins around the neighborhood.

So I have been banking all the money in batches of 5k per transaction.

Just wondering how much is too much until LHDN gets notified?

PS I am not running from taxes. I do my annual tax returns as honest as I can but I would not wish to be audited if possible.

why worry about LHDN when you also mentioned that you have been paying tax ?

don't go over 2.6b

wow.. even selling butt can make 5k..
House call FTW
owai..

inb4 20k /k member

hahahaha very sensitive number, sure LHDN will know

audit. my colleagues kena audit and somehow lhdn will do whatever it takes to get us to pay. this was circa prior to election May 9th.

we as in the clinic. my colleague tried to file a complaint saying this isn't right and he was threatened with "even you win this round, we will audit you every year if you fight this"

end up he had to just keep quiet.

PS his clinic is in KL

legit business transaction

u masukkan dalam acc company bukan acc sendiri

u follow najib izzit

This post has been edited by mousqy: Sep 18 2018, 12:12 PM

wow, sad to hear this bro

lhdn is truly the biggest thug in the country

Frequent cash bank ins is also gonna trigger AMLA warnings, I think. People were working on that 5 years ago for Malaysian banks, so I think should be in-place now.

Paying lower than tax bracket

Well my fren... crypto will be your best bet

open SG bank acc.

Depending on which bank you use. Most international banks trigger MLA warning at 5k transaction and if you have multiple large deposits, it will also trigger.

LHDN is something new to me.

put personal account then they will check ur personal account...

put business account then they audit ur business...


or, buy a super heavy n thick safety box..
the 1 used by bijan 1...
it will took the thieves to spend days to open..

If memory serves me right, TS is having partnership at clinic but TS also receive house-calls and he DOES NOT wish to let his partner to earn from this.

Technically its kinda not right, but its not wrong to have "part-time" jobs.


So what TS should do is register another company and all payment to be made under that company, and also issue receipts as proof.


But however, TS says not wish to run from taxes but wish not to be audited lel.
must be something canot see light

If you have good record keeping, it shouldn't be an issue rite ?

High transaction count isnt necessarily going to flag.. Even if it does its an amla issue. 5k is like peanuts..

Come on, everyone needs to receive and pay right..


I think only when things get excessive like you transfer few hundred k then eh eh apa ni

usually when they start audit ur company,
die die they will fine u on something...

I've been transferring above 10K/day from 1 bank to another bank acc (including company/current acc to personal savings acc) doesnt have any problem.

This post has been edited by WaCKy-Angel: Sep 18 2018, 12:30 PM

i tried 100k one shot earlier this year, no phone calls for me