Hi experts out there, if you own a website that you charge ppl when they advertise at your website then this kind of income taxable mar? Let's said for example website like cari or lowyat. Any help? 10s.

All income are taxable unless stated otherwise. But if your total annual income doesn't exceed the taxable income then no tax, but still it is treated as your taxable income, just fall short of tax requirement.

ic, how much is "doesn't exceed the taxable income"?

what's the tax different if the web owned by me OR owned by a company i registered(and i pay portion of profit to patner)? 10s Cherroy, 10s.

Normal sole proprietorship or partnership company, all income/profit are belonged to individual one.

But for Sdn. Bhd case then it is different, sdn. bhd. income is company income, not related to individual. There is the distinct difference.

So if the website owned by you, all the profit made under your sole-proprietorship company or partnership company are classified as your income.

But for a sdn bhd one, all profit made is charged under corporate tax level and profit belonged to the company not individual. Unless company declare it as dividend to pay you as a shareholders then only you will be getting the money made.

I am not profession in tax or company tax system, please bare with me if anything wrong about the information.

This post has been edited by cherroy: Mar 27 2008, 04:47 PM

if after all calculated , still get nil at the end then no nid to pay tax lo

How to compute your income tax

FOR illustration purpose, appended below are the computations showing the tax position of a taxpayer under two scenarios, i.e, under separate and joint assessment:

1. For business and rental income, these income should be reported net of expenses wholly and exclusively incurred in the production of the said income.
Lee Voon Siong

2. If entertainment expenses are incurred with the company's business, a claim for deduction can be made.

However, details such as persons entertained, purpose, matters discussed and the receipts must be available to support the claim when requested.

The amount deductible is restricted to the amount of entertainment allowance received.

3. Taxable dividend is normally received by taxpayer net of tax but for tax reporting, gross dividend must be declared.

The original dividend voucher must be retained to support the tax credit claim. If a loan is used to purchase the shares, the loan interest can be deducted against the gross dividend income.

4. Only donations to approved institutions are allowable. The approval is normally indicated on the donation receipts, which must be kept for verification.

5. For EPF and life insurance claim, a husband and wife can claim up to a maximum of RM6,000 each if they are separately assessed.

Under a joint assessment, the maximum allowed is RM6,000.

6. If a husband and wife are separately assessed, they are allowed to claim up to a maximum of RM5,000 each on medical expenses incurred on their parents.

The maximum amount claimable is restricted to RM5,000 under a joint assessment.

7. A tax rebate is given if the taxpayer's chargeable income does not exceed RM35,000.

If the tax rebate exceeds the actual tax payable, the amount of tax rebate deductible is restricted to the actual tax charged.

8. From the above tax computations, it can be noted that the total tax payable is substantially lower under a separate assessment.

However, depending on their circumstances, married couples are advised to do their computations before deciding whether it is more beneficial to be separately or jointly assessed.

In view of the deadline April 30 for non-business cases and June 30 for business cases, taxpayers are advised to submit their tax returns early to avoid the last minute rush.

Penalties will be imposed for late submission of tax returns.

http://biz.thestar.com.my/news/story.asp?f...76&sec=business

this one is today Star paper 1 right?
saw at the bsn section there...
by LEE VOON SIONG

Any idea if there are tax enquiry counters in shopping malls yet?

I've seen one in Summit USJ ground floor, last sunday. Otherwise, just go to LHDN office in Kelana Jaya, Menara LG tower 1

This post has been edited by happy4ever: Apr 1 2008, 06:05 PM

Is income derived from foreign investment taxable?

Bro if I am not mistaken, refer to 1st post it is not taxable.

Ah, I see. Thanks, that helps a lot!

foreign income received from outside scope of Malaysia is non taxable le..
like u earn money in SG then bring to johor..
tak boleh kena tax under Malaysia..
but mayb tax under Sg

Does that means irrespective source of income?

suppose though..
but forex is dif thing..

if forex.. how about tax??.. different method or no tax?

Why is it different? It is also investment ma.

forex dif le..
i ask tax agent bfore , they say taxable wor..

Like that no meaning la. I want to make forex my main source of income.
How to avoid paying tax if like that?

I work as engineer in Malaysia. I'm Malaysian but my company is in UK and have no presence in Malaysia. No EPF or SOCSO. Do i need to pay tax?