If i'm working as a permanent staff in company A, yet i'm also a partner in company B, which tax form should i fill in?

And in terms of partnership, all profits gain from it will not be taxable? How about profit sharing? Do i add those figure into personal income tax?

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.

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.

I've submitted a question under separate post related to tax on MLM income but didn't get much useful reply. Now I've seen this tread with all the tax experts and hope someone will help me.

Could someone enlighten me about tax submission for income derived from direct selling. Is it under business or individual? What are the deductibles? Thanks

Thanks for the quick reply. If under individual, could I deduct for fuel, makan, etc from the income derived since MLM do a lot of traveling, etc

Here's a reply I got from LHDN this year (2008), but it did not mention on forex. 

How about part-time incomes that are received in cheques? A portion of the incomes are for accommodation, meal allowance, and transportation apart from the main fee. Are they taxable since the allowances are received in a lump sum together?

so if a person wiretransfer 1 million usd profit from forex trading  into malaysia account bank.. he will not be tax for that??.. wow... seriously??i thought tax ppl want a slice of pie of it also...  

may i ask, if company provide free parking lot for u to come to work by renting a parking lot from a hotel, should the company put the amount spent (may be 1200/yr) in employee EA form as part of their income n thus employee hav to pay tax for tht 1200/yr amount?

Hi. I got this EPF Deduction from e-mail (Blue text below). May I know how this work. As we could see the EPF + Life Insurance is total of RM6000 only. My EPF is higher than this amount. Thank you.

Contributions to the employees Provident Fund (EPF) by employers are tax-exempt for the employees.

To reduce your taxable income , ask your employer to reduce your EPF monthly salary but increase your EPF contributions by the same amount.

Tax Deduction :
    The deductible amount from your taxable income is dependent on the arrangement between you and your employer.

For Mr A : Mr A agrees to takle monthly pay cut of RM 1000 for an equivalent increase in his EPF contributions by his employer.At the end of the year , he receives an additional RM 12000 in his pension fund but his taxable income is reduced by the same amount.

The tax saving that he makes is RM 2880 ( RM12000@24%)

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.

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.

Sorry I hope it's ok for me to tumpang along this question tered.

I've living overseas for a while now,  and paying tax in the foreign country instead of Malaysia.
However I have some investment in the form of unit trusts in Malaysia.

I'm wondering that when I sell off those UT, will I need to declare them for taxation in Malaysia, or is that covered under withholding tax already

Furthermore, in the country I'm in now I found that there is a 30% tax on gains from shares and UT etc.
And in the tax form they do ask whether I possess any investment overseas etc.

Thanks in advance!

Hi, I do not know if I am in the correct thread but I have some tax questions regarding a sole proprietor business.

I have a sole proprietor business. I am a private tutor. I teach students at my place & I also go to some students' houses to teach. I have registered my business in April this year.

My questions :

1. I did not keep the petrol receipts. Only recently I realized that I need those receipts for tax submission.    I only started keeping the receipts from October onwards. But I have a book where I list down my petrol expenses. Could I still use this list to do my accounts? Can I fully claim it?

2. Can I fully/partially claim water & electricity bills since I am teaching in my house?

3. Do I really need to maintain a separate bank account for my business? Currently, all my commission is paid into my personal bank account.

Would appreciate it if any experts could help me out on these. Thank you in advance! 

Thanks for the answers. However, can I know why petrol expense is not entitled for tax deduction since I need to travel to my students' houses to teach them tuition? Isn't it an expense incur to run the business?