Hi!,

Currently im working with monthly income RM5600, then i got side income RM2500 as advisor for my friend businesses.
Here is my question.

1) Currently im only declare tax for my full time job income. Should i do the same for my side income?
2) If i declare my side income, is there any possibilities my bank loan will increase due to my total income 5600+2500 or bank will consider 5600 as my only income?

Thank you.

1) Yes
2) No

MOF will say thank you for payming more thanks. while the banks only sees ur RM5600 and screws ur RM2500

1. Yes
2. Why would your bank loan increase? Do you mean bank loan monthly payment?

You should declare both incomes.

For bank loan, higher income can borrow more but side income the bank will take discount on calculating as your income as it is not considered stable income

How is your side income being paid to you? Cash? Got epf from that side company? Else I think no need.

Unless your side income has at least 3 months pay slip, then your loan amount ( the amount you can borrow increase). Won't increase current outstanding monthly loan payment.

quite inaccurate info.


for No.2

u need to provide these

1. the offer letter to appoint u as advisor
2. better is perma 1
3. transaction detail, u received the payment min3month
better 6 months.

i can guarantee tell you most bank would consider
some would take it 50%
some would take it 30%

depend underwriter.


rental inome
mlm parttime income
online selling income
freelancing income

all are income


bank love proper presentation.
it indicate they are dealing with professional

but if b40 mindset auto assume bank malas layan pumya.....

remember file the income lumsum in tax

practice paying ur tax.

You can don't declare. But if LHDN audit and ask you to have drink with them, you die. Penalty I think is 100% of the tax owe. They pardon you first timer offence. How do I know this? My friend got invitation from lhdn cause he never declare his part time job at all.

If you are dealing purely cash, no need. If the other side declare, you better declare.

Depends some banks take it. You will get higher bank loan if they take it in if you can prove like continuous 3 months of the extra pay.

This post has been edited by Ramjade: Jan 2 2024, 07:38 PM

IF is thru banking system - just declare and pay the amount yearly to LHDN - else u in trouble during 7 years.

Not correct.

If his friend's business is paying him the money for advisor, definitely they will report it as their expense so it is tax deductible. In order to claim so, the Co will provide the name/info in their tax filling.

Hence, TS has to declare it to match both sides.

This post has been edited by jack2: Jan 2 2024, 06:39 PM

dude, ur friend business got declare giving u advisory remuneration?

if yes, u hv to declare. else LHDN looking for u soon enough

Maaf, saya keliru.. how is that incorrect from what I said

TS: 1) Currently im only declare tax for my full time job income. Should i do the same for my side income?

My answer: 1) Yes

When I said yes, answer is.. yes declare tax. Yes.. ye.. ya..

This post has been edited by Natsukashii: Jan 2 2024, 07:12 PM

Nak lari cukai la tu. Like tuition teachers in 90s collect cash .. save.. now become millionaire.. then get LHDN/polis scam call.. easily fell for it because guilty.

I repeat.. TS income is 100% taxable and must declare.

Yes
Yes
Ppl with rental income also consider as income given that no loan on the unit la .

No. 2 should not be No.

This one correct

Yes, I also confused... Haha

If your 2500 is declare in your EA form and BE form..yes it will help you to get more loans

Ohh no 2 maybe I'm incorrect, but for tax reason my no1 is correct