Every year when around end of April, all the people will be busy to look for all the receipts of previous year. Looking for receipts for what? To declare income tax. Income tax submission is on 30 April every year. When around this day, all the LHDN (Lembaga Hasil Dalam Negeri) offices will be crowded from day to night.
Despite of old days, now we can submit the tax online, by using e-filing. After filing the tax, we can make the payment online as well, using online banking. This is really a convenient way for us. No need to take leave to go to the LHDN office. No need looking for parking. If do not want to take leave, then need to go there after work. By using e-filing, we can settle everything at home or at office. I just file my tax online, just takes me half an hour.
What do we need to prepare before doing the tax filing? The most important document is the EA form. From the EA form, you can actually key in the total salary, allowance, and your EPF contribution. Just be aware that this year is a bit different in the allowance, where some of the allowances are tax-exempted allowance, such as internet allowance, petrol card, and so forth. After that, compile all your receipts. The items can be used for tax deduction are books and magazine (max RM1000), sport item (max RM300), life insurance (max RM6000 together with EPF), medical insurance (max RM3000), computer (max RM3000 once every 3 year), parents’ medical bills (max RM5000), medical check-up fee (max RM500), and other donation to charity (max 7% of total income). So, by having all these amount, you just key in the figure online, then it will calculate your taxable income automatically as well as the tax amount that you need to pay.
Beside, you also need to key in all the dividends that you get last year, as we can claim back the exceeded tax if we are not in the 26% tax bracket. Just compile all your dividend voucher and key in all the information according to the online form, the exceeded tax will be calculated automatically.
Doubtful that if you need to declare income tax? Just take your total income last year (salary + bonus) minus the EPF contribution, if exceed RM24,000, you will need to declare tax. It is always a good practice to declare tax even you are not entitled to pay tax yet.
Going to submit but do not know how to do e-filing? Refer to the website, the guide is quite clear, https://spsd.hasil.gov.my/PKI/e/mainpage.html.
30 April 2009….another 8 days to go!!!
Despite of old days, now we can submit the tax online, by using e-filing. After filing the tax, we can make the payment online as well, using online banking. This is really a convenient way for us. No need to take leave to go to the LHDN office. No need looking for parking. If do not want to take leave, then need to go there after work. By using e-filing, we can settle everything at home or at office. I just file my tax online, just takes me half an hour.
What do we need to prepare before doing the tax filing? The most important document is the EA form. From the EA form, you can actually key in the total salary, allowance, and your EPF contribution. Just be aware that this year is a bit different in the allowance, where some of the allowances are tax-exempted allowance, such as internet allowance, petrol card, and so forth. After that, compile all your receipts. The items can be used for tax deduction are books and magazine (max RM1000), sport item (max RM300), life insurance (max RM6000 together with EPF), medical insurance (max RM3000), computer (max RM3000 once every 3 year), parents’ medical bills (max RM5000), medical check-up fee (max RM500), and other donation to charity (max 7% of total income). So, by having all these amount, you just key in the figure online, then it will calculate your taxable income automatically as well as the tax amount that you need to pay.
Beside, you also need to key in all the dividends that you get last year, as we can claim back the exceeded tax if we are not in the 26% tax bracket. Just compile all your dividend voucher and key in all the information according to the online form, the exceeded tax will be calculated automatically.
Doubtful that if you need to declare income tax? Just take your total income last year (salary + bonus) minus the EPF contribution, if exceed RM24,000, you will need to declare tax. It is always a good practice to declare tax even you are not entitled to pay tax yet.
Going to submit but do not know how to do e-filing? Refer to the website, the guide is quite clear, https://spsd.hasil.gov.my/PKI/e/mainpage.html.
30 April 2009….another 8 days to go!!!
1 comment:
If you still havn't get the e-filing PIN, faster send an email to apply. The guide is in their website. I just apply for my gf, they reply on the next day, quite fast :)
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