May 31 2024, 05:12 PM
QUOTE(sixguyz_jayhan @ May 14 2024, 03:01 PM)
1. If we make money through stock market trading (SMT), do we still have to pay income tax? Not so clear in the Financial Budget for 2024...
2. I've heard that the "frequency of trading" is the point. However, I'm having trouble finding its specific rules. How do we assess? (Assume that I buy and sell in a span of two days, one week, sometimes longer than a month.)
3. Can we include other costs like water and electricity bills, computer maintenance, hardware purchases, and so on? I didnt registeringmy in SSM, but under my own name only.
4. Should I use the Borang B or BE when e-filing? (Because I make my own money)
Determining the existence of trade - page 13 Appendix2. I've heard that the "frequency of trading" is the point. However, I'm having trouble finding its specific rules. How do we assess? (Assume that I buy and sell in a span of two days, one week, sometimes longer than a month.)
3. Can we include other costs like water and electricity bills, computer maintenance, hardware purchases, and so on? I didnt registeringmy in SSM, but under my own name only.
4. Should I use the Borang B or BE when e-filing? (Because I make my own money)
s33(1) ... by deducting ... all outgoings and expenses wholly and exclusively incurred ... in the production of gross income
wholly and exclusive means 100% for business, good luck with apportionment basis
BE: individual - not carrying on business
B: individual - carrying on business
QUOTE(Singh_Kalan @ May 15 2024, 09:51 AM)
Because its a personal taxation, losses can't bring forward to next year.
not sure what do u mean by personal taxation4(a) business losses can be carried forward regardless of your identity
QUOTE(sixguyz_jayhan @ May 15 2024, 01:02 PM)
As long as we EARN profit on any legal channel ("gains or profits not falling under any of the foregoing classes"), we have to pay tax.
not quite right, because illegal gains will still be subjected to income taxQUOTE(newbie99 @ May 22 2024, 12:00 PM)
If you buy and sell properties frequently, even if u have held it for more than 5 years (to get zero RPGT), they can still consider the capital return as taxable income.
when u transact frequently with other factors which suggest that u r carrying on a business, the gain shall be subjected to income tax instead of real property gain tax, so 0% RPGT rate would be irrelevantit is a question of fact - capital gain vs trade income
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