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:

What Is A Tax Deduction?

After deducting tax reliefs from your annual income, you can still reduce your chargeable income with tax deductions.

In Malaysia, a tax deduction is similar to a tax relief, where it reduces your chargeable income. Tax deductions are a result of Gifts and Donations.

Donations are only tax deductible if the donations are made to Government approved charitable organisation or directly to the Government, and you must keep the receipt of the donation.

For income tax 2017, if your chargeable income is RM55,000, and you’ve donated RM2,500 to an approved charitable organisation, you are allowed to deduct 7% of your aggregate income to reduce your chargeable income.

For income tax 2017, if your chargeable income is RM55,000, and you’ve donated RM2,500 to an approved charitable organisation, you are allowed to deduct 7% of your aggregate income to reduce your chargeable income.

Total chargeable income after tax deduction

= RM55,000 – (RM55,000 x 7%)

= RM55,000 – RM3,850

= RM51,150

What Is Chargeable Income?

First of all, you need to know what is considered income by Lembaga Hasil Dalam Negeri (LHDN). Is it just the monthly salary you get from your employer, or does it also include other types of income?

With effect from year 2016, an individual who earns an annual employment income of RM25,501 (after EPF deduction) has to register a tax file. These are the types of income that are taxable:

These are the types of income that are taxable:

• Business or profession
• Employment
• Dividends
• Interests (except bank deposit interests)
• Discounts
• Rent collected
• Royalties
• Premiums
• Pensions
• Annuities
• Perquisites, which includes bill claims, company credit cards, loans from company, sponsored club memberships, sponsored child tuition fee, personal driver and any benefits offered by your employer that could be converted into cash.

Here’s an example of how to derive your total income:

Malaysia Personal Income Tax Guide For 2017

Preparing and filing your income tax in Malaysia can be a challenging and anxiety-inducing experience every year for most people, but it doesn’t have to be if you understand how income tax works in this country.

Do you know how your tax is calculated? Are you aware that Malaysia adopts a progressive income tax rate system, which means that you only pay the higher rate on the amount above the rate? Do you know what the differences between tax exemptions, tax reliefs, tax rebates and tax deductibles are? How can you get higher income tax return?

If you have no clue what the answers for these questions are, plus many other income tax-related questions, you will have no idea how to plan your taxes well. Without planning, you won’t be able to maximise on the tax reliefs available, and get the tax savings you are eligible for.

Well, it is never too late to find out. With this simple and easy-to-understand Malaysia income tax guide 2017, you will be filing your tax like a whiz before April ends.

Now, let’s get started and find out what’s chargeable income!

How To Pay Income Tax In Malaysia

If you have paid your income tax payment in excess via the monthly tax deductions, the excess amount will be reimbursed to you via the bank account details that you had provided. For those who do not provide bank accounts, you will be reimbursed via cheques or the new tax refund voucher system (BBBC), which will be implemented in stages.

However, if you have taxes due, you can pay through various methods, such as e-banking, collection agents, and the ATMs to name a few. You can also pay your income tax via credit card. If you are looking for a card that will reward you for your tax payment, check out all the credit cards available in Malaysia.

Here are the many ways you can pay for your personal income tax in Malaysia:

1) Pay income tax via FPX Services

The FPX (Financial Process Exchange) gateway allows you to pay your income tax online in Malaysia. First of all you need an Internet banking account with the FPX participating bank.

The participating banks are as follows:

• Affin Bank & Affin Islamic Bank
• Alliance Bank & Alliance Islamic Bank
• AmBank & AmBank Islamic Bank
• Bank Islam
• Bank Rakyat
• CIMB Bank & CIMB Islamic Bank
• Hong Leong Bank & Hong Leong Islamic Bank
• HSBC & HSBC Amanah (Not available for Retail)
• Maybank & Maybank Islamic Bank
• Public Bank & Public Islamic Bank
• RHB Bank & RHB Islamic Bank
• UOB Bank

To make the payment, please go to ByrHASiL at https://byrhasil.hasil.gov.my/

Malaysia Income Tax e-Filing Guide

So, how to file income tax? Taxpayers can start submitting their income tax return forms through the e-Filing system starting from March 1 of every year, unless otherwise announced by LHDN. This method of e-filing is becoming popular among taxpayers for its simplicity and user-friendliness.

Unlike the traditional income tax filing, where you have to print out the income tax form and fill it in manually, the e-Filing income tax form calculates your income tax for you automatically. So, questions like “how to calculate my income tax” will not be stopping you from getting your income tax returns.

Filing your tax through e-Filing also gives you more time to file your taxes, as opposed to the traditional method of filing, where the deadline is usually on April 30.

If this is your first time filing your tax through e-Filing, don’t worry, we’ve got your back with this handy guide on e-Filing.

Here is how the short e-Filing process goes:

10 Simple Steps to Make the Most of Every Day

“Success in life is founded upon attention to the small things rather than to the large things.” – Booker T. Washington

Our lives are a large collection of single days one right after the other. The sun rises, the sun sets, and it rises again. And in the end, the lives we chose to live will be determined by how we choose to spend each day.

Unfortunately, for most of my life, I embraced little intentionality in my days. I survived each new day, but made little effort to make the most of it. Instead, they simply just came and went… and many were wasted.

But over the past few years, my views have changed. I have begun to view each day as an important gift. I have sought to embrace each one individually and discover the potential that it holds. After all, some may get more days than others, but each of us have been given this one. And we ought to be making the most of it.

9 Cara Pencetus Ghairah & Keseronokan Suami

9 Sensitif Isteri..

Tak Puas Seks

Suami anda dingin? Memberikan alasan tak bertenaga? Tak de mood? Tapi perasaan anda sedang membuak2? Ada beberapa tips berguna yang dapat dipraktikkan untuk menaikkan semangat dan nafsu suami.

Pencetus Ghairah Suami

Tatkala suami seakan tidak bernafsu untuk melakukan hubungan seks, ramai isteri akan menuduh suami punya ‘cawangan lain’. Hanya sedikit yang memandang bahawa puncanya mungkin adalah dari diri sendiri. Tidak mustahil apa yang terjadi ini sebenarnya bukan kerana kehadiran orang ketiga tapi kerana anda lupa untuk menggilap aspek diri yang menjadi pencetus ghairah suami.

Kealpaan ini membuatkan lama kelamaan suami mula bosan dan tawar hati untuk mengadakan hubungan seks. Jadi sebelum ia berlaku pada diri anda maka perhatikan 8 pencetus ghairah seks suami yang pada diri anda dan gilaplah ia sebelum terlambat.

Sudah Cuba Pelbagai Jenis Diet Tetapi Gagal? Mungkin Ini Salah Satu Penyebabnya...

Sudah sebulan diet, namun hasilnya langsung tidak membuahkan apa-apa kesan. Dimanakah silapnya? Apakah puncanya?

Jom semak senarai di bawah dan cari di manakah silap kamu ketika mengamalkan gaya hidup diet.

Gula

Sebenarnya kita langsung tidak menyedari bahawa makanan manis seperti pasta, sup, sereal, salad dan sos mengandung gula dan juga bahan pemanis seperti sari tebu, buah, glukosa, dekstrosa, sukrosa dan madu. Jika kamu mengambilnya dalam jumlah yang tinggi, kamu akan kehilangan nutrisi penting daripada makanan dan akan kehilangan nutrisi penting daripada makanan dan membuatkan selera makan kamu semakin bertambah.

Qucik Skillet Steak With Onions And Mushrooms

Meat lovers will LOVE this quick weeknight steak dish! 

Mushrooms and onions are the perfect compliment to steak, plus they add bulk without added calories or fat. A great example of using steak as a condiment. 

Originally when I made this steak dish, it was intended for my steak sandwich recipe, but since this is also so good over rice, I felt it deserved it’s own post. Serve this with a salad and you have a complete meal! 

Have all your vegetables sliced and ready before you start cooking, this takes only minutes to make once everything is prepped. Enjoy : ) 

5 Ways To Pay Your Mortgage When You Are Struggling

Going through another sleepless night thinking about your overdue home loan repayments? The possibility of losing your home can be terrifying. Perhaps you’re having trouble making ends meet because you or a family member lost a job, or you’re having other financial problems.

Maybe things are not as bad yet, but you would like to prepare yourself with all possible scenarios, just in case. For those who took out a variable rate home loan – you may want to know what your payments will be in the event the rate increases and whether you’ll be able to make them.

Regardless of the cause of your anxiety, there are ways to protect your home even in times of financial trouble. Here are three things you can do to save your struggling mortgage.

How to Manage Your Time on a Chaotic, Irregular Schedule

 

Not everyone works 9-5. When you schedule doesn't fit into neat little boxes, it can require some special skills to keep everything in order. Here are some tactics you can use to keep your energy up and maintain a bit of control.

In a past life, I worked as a video producer, writing, shooting, and editing short films. Anyone who's worked in this field for more than a day can tell you that regular hours are not something you keep. Some days you'll work 16 hours straight, other days you'll shoot for three hours in the middle of the night because that's the only time everyone's free. Developing skills to manage a chaotic schedule becomes incredibly important when you can't know when you're working from week to week (and, notably, these skills transfer very well to working multiple jobs and/or retail).

Easy Ways to Take Care of Your Hair

Designer clothing, perfectly applied makeup, and fine jewelry are all wasted if your hair looks greasy, dull, or messy. Fortunately, no one needs a hair salon or expensive hair products to have hair that looks professionally cared for and styled. With the right techniques for shampooing, drying, and styling your hair, it can be among your most attractive features.

We’ll provide some useful hair-care tips in this article, starting with the basics.

1. Keep it Healthy

• Don’t tie your hair back too tightly and never when it is wet. This stretches the hair shaft, causing it to break and split.
• Do eat foods rich in skin and hair enhancing essential fatty acids. By taking care of your diet, the state of your inner health will reflect in the condition of your hair. Be kind to yourself.
• Don’t over-style. Experts recommend using a blow dryer only for special occasions. At the end of your styling session, switch to cold air. This closes the hair shaft, leaving the hair smooth, glossy and shiny.
• Don’t forget to keep regular scheduled appointments with your stylist. Making an appointment for a trim every 4 to 6 weeks will leave your hair in tiptop condition

Reduce High Blood Pressure (And Solve Many Other Problems) with This Ayurvedic Remedy

Ayurveda is one of the oldest forms of traditional healing on the planet, and it originates from India. It is actually an age-old Hindu art of medicine and prolonging of life with the help of proper diet, herbal remedies and yogic breathing. Ayurvedic treatments are some of the most trusted and highly effective means of attaining healing and wellbeing naturally these days.

There is a particular Ayurvedic remedy for high blood pressure that is revered for its ability to manage the problem. It has been employed by many for a long time already that it’s even found in India’s historical records of traditional medicine. What’s so nice about this remedy is you can easily obtain the ingredients at your favorite supermarket. Without having to comb the entire city just to come across health food stores offering products related to Ayurveda and other traditional forms of medicine, it is trouble-free to take advantage of this powerful and effective remedy for high blood pressure.

Can The Lower Income Group Afford A Home, Rahman Dahlan Asked

Various measures are in place to address the issue of home ownership by the lower income group, the Urban Well being, Housing and Local Government Minister Datuk Abdul Rahman Dahlan shared.

At the recent #TanyaGomen forum on whether the lower income can afford a home, Rahman Dahlan discussed some of the issues that help and hinder home ownership and how the Government is taking proactive measures to address that. 

Ikan Sambal Berlado

Resepi ni mudah aje cara membuatnya, kita boleh gunakan apa-apa sahaja ikan yang kita suka. Kami menggunakan ikan merah dan ikan tenggiri untuk resepi kali ini. Kebetulan ikan ini ada berbaki dalam peti ais, oleh kerana tak mau di sampan lama kami gabungkan ia sekali.

Apa kita tunggu lagi, jom kita semak resepi dan mencuba resepi yang mudah ini.

Acar Seri Rampai Pak Engku memang sedap!

Acar Rampai, sudah sinonim bagi masyarakat Johor. Acar Rampai kerap di sediakan terutamanya di majlis perkhawinan. 

Nampak macam sedap aje bila tengok acar seri rampai dalam buku Santapan Lauk-pauk Tradisi. Didalam resepi ni ada di letakkan bijan yang perlu di sangai, tapi kami tak letak sebab bijan kehabisan.. tapi tak apa.. tak ada bijan tak menjadikan alasan untuk kita tidak mahu mencuba.. lagipun ianya tidak sedikit pun menjejaskan kesedapan Acar Seri Rampai ini.

Memang sangat sedap! kalau anda teringin nak mencuba.. kami kongsikan resepinya di sini, sebagai rujukan kawan-kawan yang nak mencuba

Video | Adele - Hello

Hello | Adele 

Hello, it's me
I was wondering if after all these years you'd like to meet
To go over everything
They say that time's supposed to heal ya, but I ain't done much healing
Hello, can you hear me?

Video | Cinta Terakhir - W.A.R.I.S Feat. Ezad Exists

Lirik Cinta Terakhir - W.A.R.I.S Feat. Ezad Exist

W.A.R.I.S

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