Sunday, April 12, 2009

help, income tax month, e-filing? LHDN?!

oh yeah, this is the month of tax tax tax tax tax... i cant find the right word. perhaps, to declare and report your taxable income? Whatever. For those whose salary is lower than RM2500, don't worry.. you're exempted from this ordeal. To those with higher salary - sorry.. face the penalty of TAXATION!! (oops, is there such a word?) Whatever.

Gee.. guess i'm falling into the attitude of "Whatever". which really annoys myself too. Whatever.

So I've found a very good info ffrom a superb website by my fantastico radio station - MIX.FM!!!
yahoo.. they never fail me! I'm sharing some of the info from their website. Use it. Use it. Use it. Relieve yourselves from the torment of TAXATION! (yes, i just checked the dictionary - this word does exist. yahoooo.. i'm correct! )

DEDUCTION, RELIEF AND TAX REBATES FOR INDIVIDUAL

TYPE OF RELIEF
LIMIT
Individual
RM8,000
Disabled Individual (Additional0
RM6,000
Wife/Husband
RM3,000
Disabled Wife/Husband
RM3,500
Medical Expenses for own parents certified by medical practitioner
RM5,000
Cost of basic supporting equipment for disabled self, spouse, child or parent
RM5,000
Medical expenses for serious diseases (and full medical examination up to RM500) for self, wife and child
RM5,000
Fees expanded at a recognized institutions of higher learning
RM5,000
Purchase of books, journals or magazines and other similar publications (excluding newspapers and any prohibited publication)
RM1,000
Purchase of personal computer for Individual (once in 3 years allowed)
RM3,000
Net deposit in Skim Simpanan Pendidikan Nasional for children
RM3,000
Purchase of sports equipment for any sports activity
RM300
Deduction for Children

Under 18 years
RM1,000
18 years/above and receiving full-time education at

School
RM1,000
Higher Educational Institute in Malaysia and outside Malaysia
RM4,000
Disabled Child
RM5,000
Disabled Child pursuing full-time education at Higher Educational Institute in Malaysia and outside Malaysia
RM9,000
EPF Contribution and life insurance premium
RM6,000
Education and Medical insurance premium
RM3,000

TYPE OF DEDUCTION
LIMIT
Gift of money to Government / Local Authority
NONE
Cash donation paid to approved institutions or organizations
Not exceed 7% of the Aggregate Income
Gift of money or cost of contribution for the approved sport activity or sports body
Gift of money or cost of contribution for any project of national interest approved by the Minister of Finance
Gifts of artifacts, manuscripts or paintings to the Government
NONE
Cash donation to public libraries and libraries of schools and institutions of higher education
RM20,000
Gift of money or in-kind for the provision of facilities in public places for the benefit of disabled persons
NONE
Cash contribution or medical equipments to any healthcare facility approved by the Ministry of Health
RM20,000
Gift of painting to the National Art Gallery or any state art gallery
NONE

TAX REBATE
LIMIT
CONDITION FOR REBATE
SELF
RM350
If Taxable Income does not exceed RM35,000
WIFE/HUSBAND
RM350
If Taxable Income does not exceed RM35,000 and husband/wife has no income/no total income
ZAKAT/FITRAH
NONE
Limit to amount of Total Tax Charged
FEES/LEVY
NONE
Paid by a holder of an Employment Pass, Visit Pass (Temporary Employment) or Work Pass