What Is Tax Rebate?

The example in the previous chapter shows a tax amount of more than RM4,000 – that’s quite a big sum. But this may not be your final tax yet. The last step you can make to reduce your tax is through tax rebate.

Most people confuse income tax rebate with income tax relief. The difference between the two is: a tax relief is deduction from the total income to derive your chargeable income, whereas tax rebate is deducted from the actual taxed amount.

Tax Rates For Year Of Assessment 2016 (Tax Filed In 2017)

Now that you understand how to derive your chargeable income to file for your 2016 income tax, we can calculate how much tax you will be paying for last year’s assessment.

What Is A Tax Exemption?

Fortunately, taxpayers in Malaysia are not taxed on our total income, as certain portions of our income are tax exempted. For income tax filed in Malaysia, we are entitled for certain tax exemptions that can reduce our overall chargeable income.

Tax exemptions either reduce or entirely eliminate your obligation to pay tax. Most taxpayers are entitled to an exemption on their tax return that reduces your tax bill in the same way a deduction does.

The following tax exemptions will not be included in the taxpayer’s EA Form:

The above tax exemptions are subject to approval, and conditions set by LHDN.

Read on to understand more about the above tax exemptions:

Tax Reliefs For Year Of Assessment 2016 (Tax Filed In 2017)

What is a income tax relief? Tax reliefs are set by LHDN, where a taxpayer is able to deduct a certain amount for money expended in that assessment year, from the total annual income. These are for certain activities or behaviours that the government encourages or even necessities or burdens to lighten our financial loads.

For income tax Malaysia, tax reliefs can help reduce your chargeable income, and thus your taxes. If planned properly, you can save a significant amount of taxes.

In our example, a taxpayer would have been taxed about 10% of his total chargeable income of RM84,300 if he had claimed no tax reliefs at all.

However, with the self & dependent tax relief of RM9,000, life insurance & EPF relief at RM6,000, his total chargeable income is now RM69,300, hence, he would only be taxed about 8% of his chargeable income.

This Ipoh man has been selling records for 40 years

Chen’s modest store houses a treasure trove of goodies, including vinyl LPs, cassettes, hi-fi knick knacks and erhus.

When the sound of the erhu emanates from a particular stretch of Pasar Besar Ipoh, Perak’s central market, that simply means Cheng Ah Lek is at his record store for a day’s work. The proprietor of Perniagaan Nanyang has been selling vinyl LPs for more than 40 years, having opened his first shop on Osborne Street (now Jalan Dato Tahwil Azhar) in 1974.

“I opened another shop in Yau Tet Shin market in 1984, but closed it two years later when I fell ill,” said the gregarious 74-year-old. Ultimately, the original Osborne Street store is what lasted longest, and Cheng was there until the turn of the millennium, when the owner of the lot eventually sold it.

This writer recalls visiting that store in the late 1990s and leaving with cartfuls of records on a number of occasions. With Chen having sold records for so long, he had an amazing inventory then.

According to him, he had tens of thousands of titles, though in the last 16 years, that volume has decreased tremendously. Good titles can still be had, from the likes of Jimi Hendrix, Bad Company, Deep Purple and BB King.

What’s great about Chen’s collection is the condition of his records … they are largely NOS (new old stock titles), effectively meaning, they are unplayed records. And there’s been a copy of 10cc’s Deceptive Bends sitting there for months now, just waiting for the right music lover to claim it.

Cara Mudah Dikabulkan Doa

Ahli sufi dan ulama terkenal, Abu Ishak Ibrahim al-Hurawi pernah berpesan, jika seseorang ingin doanya mudah diterima oleh Allah SWT supaya berjanji kepada diri sendiri untuk melaksanakan lima perkara berikut:

• Mengawal makan dengan memakan sekadar perlu sahaja.
• Memakai pakaian yang perlu sahaja dan tidak berlebihan.
• Mengawal tidur, dengan tidak tidur secara berlebihan.
• Mengawal percakapan dengan perkara yang baik-baik sahaja.
• Selalu merendah diri, menjaga dan memelihara hawa nafsu, pancaindera dan anggota badan daripada terjerumus kepada perbuatan dosa.

15 Buku Untuk Cabar Pemikiran Anda

Seperti mana ada yang sukakan aktiviti cabaran fizikal seperti rock climbing, water rafting, para-gliding dan lain lain, pastinya ada diantara kita yang sukakan bacaan yang mencabar pemikiran, yang bertentangan dengan pendapat peribadi sendiri atau norma masyarakat. Terminologi thought provokingselalu digunakan untuk menggambarkan buku buku sebegini.

Selain daripada unsur unsur thought provoking, sesuatu bacaan yang mencabar ialah apabila ia sarat dengan kronologi peristiwa, fakta dan terma asing dalam subjek yang bukan bidang kepakaran kita.

Kesemua bahan bacaan yang mempunyai unsur dinyatakan di atas, jatuh dalam kategori mencabar pemikiran pembaca. Ianya baik untuk mencambahkan corak berfikir, memahami perkara atau konsep baru dan dapat berpartisipasi dalam proses berfikir yang digarap oleh penulis. Lazimnya pembaca tidak perlu setuju 100% dengan argumen yang dibawa oleh penulis. Ini kerana konten buku adalah untuk merancakkan percambahan idea tanpa obligasi untuk bersetuju sepenuhnya dengan penulis. Budaya ini adalah sangat baik untuk melatih pembaca meraikan pandangan dan sudut fikir orang lain.

Kami senaraikan 15 buah buku yang akan mencabar pemikiran anda dari segi, penerimaan & kefahaman fakta, kronologi, terma kewangan, sejarah, serta sudut pandang sosial yang berbeza atau kata lain, thought provoking.

10 Steps to Convert CDA to MP3 using the Free Windows Media Player 12

If you wish to convert CDA to MP3 then look no further. Windows Media Player 12 can do the job.

Of course you can use other tools (which are more powerful in my opinion), but you can start using Windows Media Player 12 immediately without the hassel of downloading and installing other software.

Follow the steps below:

1. Start Windows Media Player 12

2. Go to the menu at the top, select "Tools", and then "Options..."

7 Hot Springs to Visit in Malaysia

Hot springs are hidden gems in Malaysia. Tourists and locals love visiting these hot springs to soak in the health benefits from the minerals contained in the waters.

Here are seven for you to visit in Malaysia.

Acts of intimidation and harassment will not go far

Pudu jail site redevelopment to start early next year

                           

Eco World Development Group Bhd is expected to start construction of the RM8.7 billion Bukit Bintang City Centre (BBCC) project by the first quarter of next year.

Chief executive officer Datuk Chang Khim Wah said upon getting the development approval from the Kuala Lumpur City Hall, the company would prepare the pre-marketing for the launch of the project by year-end.

DAP predicts political fund meet will be axed

DAP veteran Lim Kit Siang thinks the national consultative committee on political funding will suffer the fate of the Special Task Force

DAP elder statesman Lim Kit Siang believes that Prime Minister Najib Abdul Razak’s National Consultative Committee on Political Funding was nothing but a cynical ploy to buy time for a whole year to continue to avoid and evade the principles of accountability, transparency, integrity and good governance on the twin scandals of the RM42 billion 1MDB loans and RM2.6 billion in Najib’s personal accounts. “Najib has said that there are currently no laws regulating political funding or donations and thus the public can’t pass judgment yet.” 

“This is a shocking example of Najib’s warped perceptions of what is right and what is wrong – a Prime Minister who has completely lost his moral authority and compass and ceased to distinguish between right from wrong.” 

Best Street Style Fashion Trends

Granted, James Dean and Michael Caine are cool. But if you want to be a modern style icon, you’re going to have to push the boat out a bit more.

Since absolutely everyone in the world has got a street-style blog, these days you can scarcely leave the house without running into a budding fashion photographer. It’s a tough old life. But where you might see annoyance, we see nothing but opportunity. After all, if you can’t beat them, join them.

But don’t go thinking that dressing well has anything to do with it. To ensure you’re always looking “interesting” enough to be papped, we’ve compiled a list of the looks to adopt to be sure of attracting flashbulbs at the next fashion event. What’s that? You missed Paris and Milan this time around?

Not to worry – remember, it’s always fashion week somewhere. We hear Azerbaijan’s nice this time of year.

Here are six of the best street style fashion trends and how to adpot them.

We Know What You Search For

Yep, Pornhub Insights has revealed its internal search history... and deepest darkest secrets. Take a look at the inside stats they have revelaed about your porn search history.

Fact One

Last year the site recorded 78.9 billion video views, up from 68 billion the year before.

Which VPN Services Take Your Anonymity Seriously?

VPN services have become an important tool to counter the growing threat of Internet surveillance, but unfortunately not all VPNs are as anonymous as one might hope. In fact, some VPN services log users' IP-addresses and other private info for months. To find out how anonymous VPNs really are, Absolute Misdemeanor asked the leading providers about their logging practices and other privacy sensitive policies. 

Spy

By now most Internet users are well aware of the fact that pretty much every step they take on the Internet is logged or monitored.

To prevent their IP-addresses from being visible to the rest of the Internet, millions of people have signed up to a VPN service. Using a VPN allows users to use the Internet anonymously and prevent snooping.

Unfortunately, not all VPN services are as anonymous as they claim, as several incidents have shown in the past.

By popular demand we now present the fourth iteration of our VPN services “logging” review. In addition to questions about logging practices, we also asked VPN providers about other privacy sensitive policies, so prospective users can make an informed decision.

1. Do you keep ANY logs which would allow you to match an IP-address and a time stamp to a user of your service? If so, exactly what information do you hold and for how long?

2. Under what jurisdiction(s) does your company operate?

3. What tools are used to monitor and mitigate abuse of your service?

4. Do you use any external email providers (e.g. Google Apps) or support tools ( e.g Live support, Zendesk) that hold information provided by users?

David Cameron challenges Malaysian PM Najib Razak on corruption

The Prime Minister urged Mr Razak to clean up his government and challenged the treatment of Anwar Ibrahim, the country's opposition leader in jail

Najib Razak with David Cameron

David Cameron has confronted Najib Razak, the Malaysian prime minister, over the deepening corruption scandal that threatens to bring down his government.

Allegations that $700 million (£450 million) in state development funds ended up in Mr Najib’s personal bank accounts overshadowed a visit by the Prime Minister designed to build trade ties.

During a long, one-to-one meeting, Mr Cameron on Thursday urged Mr Najib to clean up his government.

In a pointed move, he then met with civil society leaders, including journalists, the G25 group of campaigners and lawyers, who are campaigning for greater democracy and a free press.

9 Ways You Didn't Know You're Being Rude

1. HAND GESTURES

What culture doesn’t talk with their hands? A universal behavior, hand gestures help us to emphasize a point we are making or even speak for us when we are at a loss for words. But did you know that your simple hand gesture could be obscenely offensive in other countries? A thumbs up in America means approval, but in Iran this gesture loosely means “up yours.”