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 Taxation on Stock Market Trading, Any changes in new Budgeting?

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TSsixguyz_jayhan
post May 14 2024, 03:01 PM, updated 2y ago

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I'm not sure if posting in this section is appropriate. Please correct me if I'm wrong.

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)

Thanks in advance for the helps! biggrin.gif

TSsixguyz_jayhan
post May 15 2024, 01:02 PM

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QUOTE(Avangelice @ May 14 2024, 04:19 PM)
Since when are we taxed on Stock market trading on personnel level, I think you are confused with the January 2024 capital tax gains on companies trading shares amongst themselves. Not for individual traders.

Regards
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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.
Either individual or company.


TSsixguyz_jayhan
post May 15 2024, 01:03 PM

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QUOTE(Singh_Kalan @ May 15 2024, 09:51 AM)
Full time Active trader are require to declare.  But I doubt most will make money.  Maybe 1 year win,  2nd 3rd year loss.  Because its a personal taxation, losses can't bring forward to next year.
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You are right. It's too ambiguous, not much information after surfing online.

 

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