Any tax from dividend from stock in oversea market if you used local broker ?
All the dividend will be tax once remit to Malaysia broker ?
double taxation ?

No such thing double taxation, you need to declare in your annual filing as usual, include them.

if you dont intend to bring them back...
not need to declare...unless you wanna convert back to malaysia.. and spend.. then declare..

thats my stupid logic..

please any pro here.. educate us

apology..didnt read properly... the TS say .. USE LOCAL BANK>>> so ignore my message

This post has been edited by rootbeer: Oct 30 2021, 10:50 PM

You will not be taxed on foreign income.

It is consider as capital gain henceforth not taxable as it is not income derived from abroad

What until 2022 for clarity.

It's considered overseas income. And we all know overseas income will be tax. Whether the one taxable is job or investment, we won't know until 2022. Remember now govt desperate. No money already. Need to tax everything.

Tax apply when your submit your filing. All foreign income be taxed from 1st Jan 2022, for all Tax-Resident in Malaysia.

No issue of double taxation, tax shall apply in the country you make the money thats once, and tax shall apply when you bring home - once.

This post has been edited by baby_4ever: Oct 31 2021, 07:18 AM

3 % tax on foreign earning
if use local broker , dividend will deposit to your local brokerage .
so the broker will deduct 3% from that once you receive the dividend
Or , u need to declared that part when u declared tax 2022?

Wait for the finance bill tabling next week.

What day?

https://www.parlimen.gov.my/bills-dewan-rak...uweb=dr&lang=en

According to last year's schedule, finance bill first reading will be on the Monday one week after the second reading of the supply bill (i.e. budget). Second reading will be one month after that.

Sorry I should mean one month after next week. Second reading is when the details will be known. First reading will just be title mentioned.

https://www.sinchew.com.my/20211030/%e7%99%...b5%b7%e5%a4%96/

So, tax experts say no need to worry about double taxation as those who are already taxed overseas can enjoy tax relief, and as long as the money does not flow into Malaysia then you don't need to declare tax. Just keep it in your offshore bank accounts.

That means I can look for money changer in SG to convert money into cash and bring to MY to spend when retire, as long as don't deposit large amount in bank, then LHDN won't know and no need to pay tax.

This post has been edited by TOS: Oct 31 2021, 10:30 PM

Bro, don't use SG money changer. Use the one in Midvalley. I believed they have the best rate in Malaysia. I compared with the ones in JB, JB rates are lousy vs midvalley.

No point as there’s is restriction of 10k either way anything more still need to declare so don’t think you can get away unless you crossing into Malaysia daily

just use your sg debit card lor... mastercard spot rate zero mark up... kaotim... dont need money changer

wise debit already in Japan... soon will be in sg... sg got a few local multicurrency fintech with card too...

that time you already not Malaysian tax residence... why worry

This post has been edited by dwRK: Nov 1 2021, 07:52 AM

Mastercard fees very expensive, they earn like 8% when I pay for my HK SIM top-up using Malaysia debit card. I didn't know SG works differently?

When I retire in M'sia I am a tax resident since I will stay here more than 6 months (182 days).

It's already in Singapore. Only stupid Malaydia does not have wise card.

it's your bank lah I think... not mastercard

Mastercard has that forex conversion website... the rates about same as spot forex rates... then you add in any bank markup to calc your final bill. ..

Mastercard earn from the merchant... I forgot liau how much like 1-2%... is the bank then slaughter you with markups...

last I checked it says available... but really not yet launch

https://wise.com/sg/travel-money/singapore-dollar-card

Got revolut also.