Question to ask LHDN

Since cannot claim or deduct car loan repayment, does the car qualify as capital asset that to be claim capital allowance, like company?

Lel....not fair

can I say, I create a company where the company own the car, I sewa the car, back to back to the car loan. Then, ask Grab to instead of pay me, pay to the company. Then, I can claim capital allowance for the car lor, plus whatever expenses associated with Grabbing charge into the company. Then, the company pay me salary/ fees or whatever u want to call it lah, after deducting all the expenses. Then, from there, I also got my personal allowance.

Can or not?

Use back your example

TOTAL REVENUE COLLECTED = RM30k
TOTAL COMMISSION PAID TO GRAB = RM6k

GROSS PROFIT = RM30k - RM6k = RM24K

PETROL = 9K
MAINTENANCE = 5K
INTEREST ON CAR LOAN = 1K
CAR INSURANCE = 1K
CAPITAL ALLOWANCE = 20K

NET LOSS = [SALARY (for part timer drivers that have a job) + GROSS PROFIT] - TOTAL EXPENDITURE = (RM0 + RM24k) - RM16K - 20K = RM12K aka No tax

That's ok, just some free time, nothing better else to do thoughts, trying to reduce or minimised income tax payable, legally

anyway, I am not Grab driver oso and for your good info