9:30 Income rental incorrect info! Rental income is calculated on a net basis, which means the final rental earnings amount is derived after deducting the permitted incurred expenses.
Very informative vid👍🏼Next stop: how I wish all our utility bills, petrol and parking we paid can be filed under lifestyle charges as well, since those contribute to spending on one's improvement on living. I just don't understand y only gadgets, telco and gym are under lifestyle claims. Hopefully MOF can have LHDN allow for rakyat to claim from bills, I guess we will hv more savings 😁😁
Hi Mr Money, really good video! I have a query , let's say we have not opened a file for LHDN yet, does this mean that once we register our business we have to open our tax file (for sole proprietorship/partnership) or should we wait until the income earned from the business is considered taxable?
It would be great if you could dive in more on the 2500+2500 tech gadget relief and rental income. If I bought a RM4500 worth of gadget under the same receipt, can I combine the 2 categories to add up to the amount I spent? Also as a landlord, what are the things that are deductible from my rental income? I.e., fixing AC, cukai pintu, cukai petak, agent fee, etc.
No offense but more than 90% of Malaysians have side business as reported. I hope you can break down individual with side gig's going on. Me myself have 3 side gigs going on while working for an employer and I NEVER pay my income tax. Maybe you shud teach us, you know, roadside stalls, online businesses or even weekend cookers for delivery(etc : bakers, snacks sellers or even usb c part time seller? Xkan they dun never thought of this problem?
The problem you highlighted is kinda unique as LHDN can't really do anything about it. They say you have to declare and pay tax but there's no black and white on the issue. They cant enforce you to pay tax as there's no law overseeing the gig economy, it is mostly unregulated on an individual level (unlike working as an employee at a company which your identity had already been registered under the Ministry of Human Resource). They can however do an audit on a case by case basis (resource intensive decision btw) and scrutinize your overall finances to make you pay tax but on a national scale, this is mostly impractical. Which is why they always go for the big fishes (those Datuks and Tan Sris with biliuns to play with). Of course, as a law abiding citizen you can always declare your side gig income and pay the tax man as an act of patriotism lol. Tl;dr there's a loophole, enjoy it while it lasts
If I have a Tiger Brokers account, does that counts as having a financial account at a financial institution outside Malaysia? Because you mentioned Trading Account
Just would like to confirm the tax relief of internet such as Unifi, we just key in the monthly payment of the subscription? Or we can actually claim for 1 year? example internet is 100 per month, then 100*1year(12months) = 1200MYR per year. the claim is for 100 or 1200?🤔
dah sebulan submit.. still dlm semakan. Haritu dah call depa resetkan buat balik sama je.. sebulan lebih dah tunggu. aku nak byar je pon. knp susah sgt
Hi. Thanks for this wonderful video. Helped me a lot. Can you also tell me if the numbers on 'monthly tax deduction' and 'self installment' will appear automatically or do we need to key in based on the EC form the employer has provided us with? Thanks a lot.
Hello! I change my job last year so i fill up by combine two of the EA form. But my balance payable is 0.00 even though i try to change all to max. Isit normal or
Hi, thank you for the video. I am working as a freelancer for a foreign company outside of Malaysia. The company pays me in ringgit and direct transfer to my bank in Malaysia. Do I need to file for income tax?
Hello, During the year 2022, I undergone a MRI scan for ankle injury - is the expense applicable for tax relief ? I also bought a supporting leg for the recovery --> are these applicable for tax relief?
unfortunately we can just keep it to ourselves and if u r “lucky” enough lhdn will ask for audit and thats when you supposed to present them all the proof and receipts physically
Save room receipt in terms of paper? You know the ink on the receipt will go fade over time right? Such ancient method 😅 Government seriously need to think of better ways
Hi all, can anyone confirm if we can claim tax relief from purchases in Shopee/lazada.. sadly the specific store does not provide any official receipts.. TIA..
By far this is the best video explaining "how to file your income tax" ...great job, man.
This is a simple, clear and the most useful video if you want to file the income tax 2022 assessment. Thank you!!!
9:30 Income rental incorrect info! Rental income is calculated on a net basis, which means the final rental earnings amount is derived after deducting the permitted incurred expenses.
Thank you so much for sharing the way to fill out the LHDNM's e-Filing! Clear and easy to understand, save me a lot of time!
thank you so much. after so many years of working . this is the FIRST TIME i did it right.
So clear and useful! Thank you!!!
Confused about the "Tax borne by employer" bit. What do we put for it?
it will be indicated near the top of your EA form. its almost always "No"
After saw your video, directly i fill in the e-filling and submit. Thanks for the clear explanation
Thanks for this video! It's really helpful for me as a fresh graduate and have no idea about filling income tax 😄
Very informative vid👍🏼Next stop: how I wish all our utility bills, petrol and parking we paid can be filed under lifestyle charges as well, since those contribute to spending on one's improvement on living. I just don't understand y only gadgets, telco and gym are under lifestyle claims. Hopefully MOF can have LHDN allow for rakyat to claim from bills, I guess we will hv more savings 😁😁
Hi Mr Money, really good video! I have a query , let's say we have not opened a file for LHDN yet, does this mean that once we register our business we have to open our tax file (for sole proprietorship/partnership) or should we wait until the income earned from the business is considered taxable?
Is mobile postpaid consider as Internet subscription?
Thanks for the vid. One question if your mortgage is higher than the rent you received, do u still need to fill in the full amount of rent?
Very useful... i loved this.. keep up the good work!! Kudos!!
Hi, want to ask.
How about parents care/living expenses of rm1500 each?
Falls under which category?
Great Video. Do you have a guide for filing income tax as a malaysian living and working overseas say like working, earning and living in thailand?
It would be great if you could dive in more on the 2500+2500 tech gadget relief and rental income. If I bought a RM4500 worth of gadget under the same receipt, can I combine the 2 categories to add up to the amount I spent? Also as a landlord, what are the things that are deductible from my rental income? I.e., fixing AC, cukai pintu, cukai petak, agent fee, etc.
Thanks for sharing, this such a kind video. By the way, if we do online banking to pay the excess tax, which code have to use? 084? then follow by 99?
why most videos like this do not explain about the "tax borne by employer" part?
VERYYY helpful. Thank you so much for the video
hey bro can you do one for 2024, the system and website has changed a bit..
Yang tempoh isi cukai lhdn yg dibuka skrg ni adalah pengistiharaan cukai bg tahun cukai 2021 kan??
Keep receipt for how many months? Is that for 3 mths or for a example bil of insurance how to keep the receipt is that supposed be all the mths?
This is crystal clear.. Thanks
bear in mind that he only explained for BE which is personal tax. There is one more which is B for those who have business. Its a bit tricky.
PRODUCTIVE ALLOWANCE IS INCLUDE IN STATUTORY INCOME ?
Very very informative for first timer! Thanks
thanks for prepared this guide. it is helpful.
i cant seem to log in....when i try to create it states that i already have an existing account
Just watched it, amazing video. Hope there is an eB version for self employed
2:41 what about if got etoro account? Should we put YES ?
I have done some mistakes in tax filing and i would like to do BE amendment now for 2023, how to do amendment, can please help me
this video is super helpful! thanks!!
No offense but more than 90% of Malaysians have side business as reported. I hope you can break down individual with side gig's going on. Me myself have 3 side gigs going on while working for an employer and I NEVER pay my income tax. Maybe you shud teach us, you know, roadside stalls, online businesses or even weekend cookers for delivery(etc : bakers, snacks sellers or even usb c part time seller? Xkan they dun never thought of this problem?
ikr
The problem you highlighted is kinda unique as LHDN can't really do anything about it. They say you have to declare and pay tax but there's no black and white on the issue. They cant enforce you to pay tax as there's no law overseeing the gig economy, it is mostly unregulated on an individual level (unlike working as an employee at a company which your identity had already been registered under the Ministry of Human Resource). They can however do an audit on a case by case basis (resource intensive decision btw) and scrutinize your overall finances to make you pay tax but on a national scale, this is mostly impractical. Which is why they always go for the big fishes (those Datuks and Tan Sris with biliuns to play with). Of course, as a law abiding citizen you can always declare your side gig income and pay the tax man as an act of patriotism lol.
Tl;dr there's a loophole, enjoy it while it lasts
If I have a Tiger Brokers account, does that counts as having a financial account at a financial institution outside Malaysia? Because you mentioned Trading Account
Yes it includes as a foreign account
@@MrMoneyTV thank you so much! 😊
Thanks for this video! It’s really helpful.
Just would like to confirm the tax relief of internet such as Unifi, we just key in the monthly payment of the subscription?
Or we can actually claim for 1 year? example internet is 100 per month, then 100*1year(12months) = 1200MYR per year.
the claim is for 100 or 1200?🤔
Thanks for this step by step video.
Hi..I just wanted to ask if we buy new television can claim at income tax ah
For example like internet bill, do we need to keep the whole 12 months or just one month sufficient?
Thank.
Btw can share how a Grab driver file e-filling?
I'm confused. How precisely I should write my income? And should I keep all receipts?
I'm looking at this too
@@noorazmiyasirajunnoor8014 Nice
Helped me a lot. Thanks!
thanks, very informative.
How to know how much should be the tax return?
Great vid, thank you!
Very helpful, thank you!
SSPN record which section?
hi bro
How to know how much income tax you need to pay for you company(SSM license) ?
Do they have some amount showed every year ?
dah sebulan submit.. still dlm semakan. Haritu dah call depa resetkan buat balik sama je.. sebulan lebih dah tunggu. aku nak byar je pon. knp susah sgt
Hi , what is the angel investor tax?
can it be skip by leaving it empty if i didnt involve in that?
Hi. Thanks for this wonderful video. Helped me a lot. Can you also tell me if the numbers on 'monthly tax deduction' and 'self installment' will appear automatically or do we need to key in based on the EC form the employer has provided us with? Thanks a lot.
Hello! I change my job last year so i fill up by combine two of the EA form. But my balance payable is 0.00 even though i try to change all to max. Isit normal or
Hi, thank you for the video. I am working as a freelancer for a foreign company outside of Malaysia. The company pays me in ringgit and direct transfer to my bank in Malaysia. Do I need to file for income tax?
Regarding the foreign bank account, if I have CIMB SG bank account, do I need to declare it ?
Hello, During the year 2022, I undergone a MRI scan for ankle injury - is the expense applicable for tax relief ?
I also bought a supporting leg for the recovery --> are these applicable for tax relief?
Yes under medical expenses. Just log into the portal and try buddy.
Hi, tax exemption (retirement gratuity) no need to fill in the amount as Income right?
do we need to file income tax in malaysia if i am working in Singapore?
Love it!
How do I file lost of job compensation? It is fully exempted.
Statutory without odd amout is that okay?
Hi May I know why I can't put RM0 in [ Approved investment under angel investor tax incentive]? I am not doing any relevant investment ..
Just leave it blank if not relevant. Unless the system requires u to key in at least a number.
this is helpful. thank you
Helpful thanks
Thank you
There are expenses that allowed a deduction on Rental income right?
Statutory Income from Employment is that amount after tax or before tax ??
Decimal value is not accepted in income field?
May I know KWSP is refer to…?
Hi. Can you also do a step by step process for Expats?
Thank you for the info...
what are the age that need to start tax filing？Malaysia
Is profit received from Cash Trust taxable?
Hi bro, the video was so helpful. Thanks. May I know the closing date for this exercise?
usually for those individual tax without business is on 30th april every year. but for more detail can check lhdn website
How do we upload book receipts, internet bill and covid receipts in the system as evidence?
unfortunately we can just keep it to ourselves and if u r “lucky” enough lhdn will ask for audit and thats when you supposed to present them all the proof and receipts physically
every year for the past 11 years l had to find for these kind of video tutorials.. why l can't remember? sigh~~
The rental only if you are making a profit else no need.
If I work in Singapore but I have rent out my house in Malaysia.will I be taxable?
Technically yes
I need to summit BE form without salary income, right?
Thanks
If I purchase laptop cost me RM4000. Can I put RM2500 in one column and the rest of RM1500 in another column?
Thank you so much or the video.
Does a retiree with only dividend income of RM48k, ( and no other income) need to file Tax returns ?
Pls advise ..🙏🙏
Yes. File but u won’t need to pay. Cz dividend income already taxed
By the way, does mobile phone service provider subscription is considered as internet subscription?
I want to know this as well
@@loubloom8370
Unfortunately no one has replied
so meaning the balance RM 635.62 our side need to pay ?
Thank you for this super helpful video! Really helped me with my tax filing as a first timer :)
Can I ask if m is ok in e filling
Wait-
you have to file taxes?
Ssm tax filing Boleh ka boss for our extra Knowledge.
Thanks
Do UA-camrs in Malaysia need to pay income tax?
Thn ni berapa bulan bonus kakitangan LHDN?
Save room receipt in terms of paper? You know the ink on the receipt will go fade over time right? Such ancient method 😅 Government seriously need to think of better ways
UA-cam income need to declare?
Yes
Hi all, can anyone confirm if we can claim tax relief from purchases in Shopee/lazada.. sadly the specific store does not provide any official receipts.. TIA..
i have been audited and i used the completed purchase as proof. its acceptable
If you really want the receipts, try contacting the seller. They should be happy to help.
I have got my receipts for buying phones online.
Because I use m instead of be
tq
What is my MTC?
Are there any tax refund?
MTD ???
i have 40k 2021 and 2022 still no refund back and no taxer ever call me....
Until now I don't get my claim back hahaha
2024
Tq mrmoneytv