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April 19, 2016

Amazing Income Tax Tips You Need to Know

The deadline for the ever-dreaded income tax filing period is fast approaching, so for those who haven’t done it yet, it’s time to hustle! The amount of tax you pay is based on your chargeable income, which is the amount derived from subtracting tax exemptions and tax reliefs from your taxable income. But did you know that your chargeable income can be further reduced by several factors besides the expenses you’ve incurred?

The Reason You Buy Property

Why do you buy property? Is it to gain a source of passive income via rentals, or to flip it for profit? Something as innocuous as your intention behind your purchases can actually either save you a nifty sum [...]

 
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April 5, 2016

The Path to a Painless Income Tax Filing

For those who despise paperwork, end of April – or end of June, if you own a company – is probably the worst time of the year. That’s when your dreaded income tax filing is due. Figuring it out is a tedious process, and if you’re not familiar with how you should fill out your forms, or how tax rebates and reliefs work, you’re in for a frustrating ride. Income tax filing may never be fun for you, but thankfully, there are ways for you to make the experience less of an ordeal.

Update Your Tax File

You can open a tax file either at a Malaysian Inland Revenue Board branch (Lembaga Hasil Dalam Negeri, LHDN)  or online through their website. Once [...]

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