FYI, Self relief only reviewed about every 10 years or so..... So....

This post has been edited by keith_hjinhoh: May 19 2008, 01:01 AM

I'm talking about "Individu dan saudara tanggungan" of RM 8k. It only relieves once every 3-5 years? Not other kinds of relief like computer purchase.

Sorry I'm new in tax.

no offend, hav u filed tax b4?

personal relief is every yr. and yess, 8K is ridiculous.

I mean reviewed..

The last time reviewed was year 1999 where the personal relief upgrade from 5000 to 8000.

It's almost 10 years.

Its time to write /contact your MP to raise the personal relief. This is a budget issue. Next budget coming soon. However a reduction in tax ratyes is more beneficial than personal relief, Start LOBBYING your MP

The year budget will be earlier right? Somewhen in August if I remembered correctly.

Hello to all full time Forex Trader,

1) If you are full time trader ( Forex), how do you buy property and buy car?
Normally banks require you to provide any statement about your financial status.

an interesting story I heard from carrefour MD saying that income tax is like robinhood in our society, it takes money from the rich and distribute to the poor ....

although not fully agree but nevertheless an interesting analogy ...

Hi all, I am hoping the tax sifus here can help with my tax situation:

I am running my own consulting business and I run the company from my own house. I recently purchased this house under a house hire purchase loan. My question is:

1. May I claim capital allowances for my house?
2. How do you compute the allowances?

Many thanks in advance!

Hi, you cant claim capital allowance for the house. The reason being are as follows:-

a) You can only claim for capital allowance on building when fulfil the following reason.
http://www.treasury.gov.my/index.php?optio...mid=200&lang=en

b) However, you can still claim your laptop, printer, and some plant and machinery which is incurred to generate your income. Your can refer to latest pwc booklet on page 20 in how to claim the capital allowance.
Rmbr: you need to fulfil the followings: a) must be the OWNER of the plant and machinery, b) USED at the end of the year and c) MUST for business purpose.
http://www.pwc.com/en_MY/my/assets/publica...b-2012-2013.pdf

Between, I also running the my business (accounting and tax service for my client), do you think we have chance to work 2gather? Hehe...

I see. Many thanks for the info, as it really helps to clarify the situation for me. I appreciate your offer for collaboration but I am certainly not big nor complex enough to outsource my tax. =)

Haha, sure thing, no problem, cheers...

hi, i need help.
anybody can answer me ?

I have pay my tax while i was working with my previous companies..
But now that I have quit and join MLM business which my incomes are commission base and has no payslip and salary...

please let me know which category am i going in for E-filing?
i cant find related forms for my category ....becaz i have no Employer and my MLM company only gave me statements that has no employer tax number on it.

so how am i going to submit my tax ? please help ..
thank you thank you thank you

maybe Q28 is applicable to you?
http://lampiran1.hasil.gov.my/pdf/pdfam/FA..._11042011_1.pdf

thank you bro for your kind response

I read from other forums, only 7% of Malaysians pay personal income tax. Fair or not 7% support 93% of the population?

Personal Income Tax should be abolished! What say you?

Seriously, are most Malaysians (93%) really poor? ( cos not taxable)?

Hope friends here can help me.

Thinking of disposing some of my foreign shares but worry about having to pay tax on them.

Saw in this thread ...

ALL revenue income derived from a source within Malaysia are subject to tax unless specifically exempted. Foreign source income remitted into Malaysia are exempted from tax.

AA

If I read that correctly, selling my foreign shares is then non taxable, right? Shares bought more than 6 years ago.

BB

Is that rule still valid today as that thread was in 2007?

Thanks.

This post has been edited by plumberly: Aug 20 2018, 02:55 PM

Profit from investment is a form capital gain.
And capital gain in Malaysia is tax exempted, so can disregard whether it is treated as foreign derived or not. Yes, the above rules still apply until today.

Whether the "foreign" share/country has witholding tax on the shares gain or not, then it is another matter. As there are foreign shares dividend are subjected to witholding tax for non-resident investors.

Conclusion :
For Malaysia part - tax exempted.
For foreign country - check with your broker/respective countries regulation.

Noted and thanks.

On withholding tax, I am already being taxed there for the dividends. If I claim for the dividend withholding taxes, will these dividends taxes be taxable for me in Msia (assuming the 2 countries have the tax agreement)? Sorry, dumb weird question.