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 tax for oversea trading /dividend, its become more complicated

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ozak
post Nov 16 2021, 07:20 PM

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I have a foreign debit Visa card and if I take cash from ATM here, do I need to declare? or buy something here.
ozak
post Nov 19 2021, 10:01 AM

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QUOTE(wotvr @ Nov 19 2021, 09:46 AM)
I think shouldn't be an issue. I don't think they are able to enforce anything on foreign banks. I don't think we are able to trace the from the numerous foreign bank card ATM withdrawals here in Malaysia.
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Sure bo? drool.gif

Like that I can bring back hundred k back. tongue.gif
ozak
post Nov 19 2021, 11:01 AM

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QUOTE(wotvr @ Nov 19 2021, 10:10 AM)
Not very sure for large amts like that. You may consider to check with a tax consultant. The foreign bank like those in SG might report your behavior to authorities in SG and MY.
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Over hundred k withdrawal is pretty small amount in US banks. Not worry at all.

Of course, I can't get hundred K in ATM at 1 shot. It is over a yrs withdrawal.
ozak
post Dec 30 2021, 09:24 PM

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QUOTE(TOS @ Dec 30 2021, 08:30 PM)
https://www.sinchew.com.my/20211230/%e6%b5%...b9%b4%e5%ba%95/

Thanks for updates. Exemption till 2026, but after 2026, who knows if the country's finances would get even worse. tongue.gif
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2026?

before that, you were already a millionaire la. Who cares about 2026.
ozak
post Dec 31 2021, 01:38 PM

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QUOTE(TOS @ Dec 30 2021, 09:28 PM)
lol my capital is still very small. Unless compounding for decades to come, a million is impossible.
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Yes. it is possible.

Same as you, I always think it is impossible. After doing some calculations and executing the plan, it proves to be possible.

1st target at 3 figure. After success, 4 figure. next 5 figure, 6....


QUOTE(Wedchar2912 @ Dec 31 2021, 12:43 PM)
Does any of us really think we need to take this seriously? Basically this is kicking the can down the road and a different government composition.
but who knows... Mahathir maybe back again. lol
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When it disrupts your plan of financing, we need to think seriously.

The uncertain policy, U turn and changing rule each yrs is annoying. That is also the reason why I have to not put everything in 1 basket.
ozak
post Dec 31 2021, 07:30 PM

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QUOTE(TOS @ Dec 31 2021, 05:13 PM)
Simple finance calculations. 1 million in 2026, assume compounding rate of 6% p.a., shall we. PV*(1.06)^5 = 1 million, PV = 747,258 (about 750k).

6% ? That is too low for oversea invest.
ozak
post Dec 31 2021, 08:54 PM

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QUOTE(TOS @ Dec 31 2021, 08:14 PM)

Even if you choose 7-10%, the discounted present value is still way above my current assets. 6.5% p.a. is about my current IRR, though I am  aiming for 7-8% in the long run. 

It's total return here, not just dividends. Capital gain + current income = total return
If 6%, I would just buy maybank or EPF. Don’t need go oversea.

But I don’t invest in dividend or etf. All in US stock.

Looking at this yrs return, not bad. smile.gif
ozak
post Dec 31 2021, 09:29 PM

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QUOTE(TOS @ Dec 31 2021, 09:08 PM)
Suggest you to diversify. "All" in US isn't very healthy. Plus post-2026, if tax on foreign income for individuals resume, and no MY-US tax treaty, then dividend income will be taxed heavily.
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By 2026, I goyang telor already.

Probably in US or any country chasing my retire dream. No worry at all.

It is because of sudden change of taxing foreign income that cause me to look for solution. But it is a good learn and aware about this tax and able to learn how to find a solution.

Why not healthy? US is the world market. Much much more healthy then any country.




ozak
post Mar 14 2022, 10:10 AM

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So the foreign income tax is still jalan?

Never cancel at all.

 

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