Bloomberg Markets | Currencies

Yen Carry Trade That Rattled Markets Shows Signs of a Comeback

Wide yield gaps and low volatility are driving the carry trade
Bearish wagers on the yen rose to $13.5 billion in November

https://www.bloomberg.com/news/articles/202...d=homepage-asia

Unker think u have a working crystal ball.

Everyone should ALL in follow your footsteps.

Unker continue to top up EPF for 5-6% dividend.

usd dumped back into channel... lol... this week should be decisive moment for the short/intermediate term... approaching 2 supports/confluence points... got chance to buy cheaper usd soon i think...

how does the rate cut affect usd/myr... ?

what should we do now? or too late?

Continue converting out. No need to change anything.

Erhmm, so that means? USD.MYR will go up? 

clive841202 SGD use CIMB SG transfer back to CIMB MY. if USD, are you willing to use cryptocurrencies? Hata allows you to receive USDT already (malaysians can get Hata Global + Malaysia)

Got meh? They only ask you if you got overseas account.

Confusing, right, guys ??

Look again at all the things I've been saying earlier,...

That's why - DO NOT REMIT back starting from 2021 ! Or remit back ONLY if necessary !

So, gentlemen,... since, by their single-tier taxation system, IRAS does not tax further on stock and REIT dividends, do these dividends fall under the bolded part of section 5.2.2.1 above ?

If the answer is a YES - then we can remit back as much as we wanted to and show the source of these funds, being dividends.

BUT,.... if the answer is a NO - then do not remit back anymore and then no need to declare any remittances.

Bro prophetjul,... I think you have a good knowledge abt this. Can you kindly educate us ?

Thanks for the quotation and sos.

Looks like the diff is the BE vs B form, and lack of confirmation of whether the income is received in malaysia.

2036 and keeping 14 years of records. Good luck to LHDN.
Those with normal BE form filling can just ignore till closer to 2036... And let those with biz income spearhead the discovery with LHDN officers. Hah.

so you remitted the income back to Malaysia? 

I found this in the LHDN document.
Example 11
Foreign income received in Malaysia is not taxable due to the taxation’s system in the country of origin.

Amansyah, a Malaysian resident, worked as a petroleum welder with a company based in Brunei starting from 2020. He receives employment income from Brunei. Based on Brunei's taxation system, employment income received is not subjected to tax. In 2022, Amansyah plans to bring back his income to Malaysia. Income received from employment in Brunei is not subject to tax in Brunei. Therefore, the employment income brought into Malaysia by Amansyah is exempted from tax in Malaysia as the conditions under P.U. (A) 234/2022 and this Guideline has been fulfilled.

Since dividend is considered income based on the definition in our income tax agreement, I supposed if REIT dividend is tax exampted in the country that you (as a foreigner) invested, it should continue to be tax exampted when you remit it back to Malaysia?

I never see it when I fill taxes this year. Maybe ikan bilis level. Do you happen to have link for it?

As per the eg by Fantasia earlier, since the REIT div is NOT taxable in the country of origin, then SG REIT divs rec’d in Msia are non-taxable too (going strictly by the eg). Where is the tax note, bro ?

If we believed our dividend is post-tax, then we do not need to declare this anymore, and say we have zero income from overseas ?
Thank you, bro…

Bro… wanted to express my gratitude first for all ur inputs here.
SG REITs are exempted in the hands of individuals & joint-acct investors. But certain portions of the dividend payout is taxable in the hands of partnerships and companies.

I know in Msia, REITs are taxed at 10% across the board.

Hence…. Per the eg earlier… logically, all SG REIT dividends remitted back shld be tax-exempted and shld not follow Msian REIT system. Hence, there is no need to declare this amt being remitted back and we can put in zero in the ‘amt remitted back’ section of the B\BE Form.

I stand corrected in the above paragraph. I sincerely invite helpful rebuttals if there are conflicting opinions from other forummers or from LHDN-related readers here.

Many SG equity investors based in Msia will read this information. Let us be clear in this forum.

I assume no prejuduce in writing the above !
Edited by adding this : The REIT tax notes section in the company website and in SG filings do not mention anything abt REIT dividends remitted out from SG.