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.

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 ?

drillz?

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.

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.

i do exactly what you do, i handle house calls and what i usually do is i’ll get my patients to pay me on a monthly basis, and they directly transfer to my acc , but its not much, about 800-1k + , and those not so frequent ones i’ll just keep it in my wallet

RM 4990.00. Alternate days.

BNM gets notified then only LDHN. The algorithm only detects abnormal or normal daily transactions over the limit.

4990 is not true.. Just do random numbers and also alternate days randomly.

my post kena reported.

some of these guys really clueless as to how difficult it is to kena audit. my dad company kena audit and they force you to pay the next year punya taxes for this year and say you can claim from immigration next year if not tally.

people doing business will know what I'm talking about. some of these middle income groups don't know shit and will never understand

ever since i got a full time job i cut down on my housecalls, otherwise yes, kena audit is a b**** , i know people who had to pay 2.7+ something or kena action taken if didnt pay up , i never had to worry as i wasnt making as much as you are, on good months 3k+ only, even that will be spent on necessities and when it hits the bank, its half that ammount

it kinda sucks seeing all the hard work you put in on a daily basis and the government gets the cut out of it