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.

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.

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:

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/

Review : Desolasi

Aiman is upset that the valet parking attendant stole his favourite 4U2C tape from the car. A scene from Desolasi.

Ironically, for a movie with a title that translates to “state of emptiness”, Desolasi is a full-on assault on the senses. It’s as if director Syafiq Yusof is afraid of desolation himself, to the point that his movie is filled with mind-boggling visual effects, neverending explosions and anguished cries.

The story revolves around Aiman (Syamsul Yusof), a visual artist with his own perception of reality. Growing up, he coloured his drawings differently from the other kids in school and that made his teacher upset. Aiman questioned why God allowed suffering in the world. He said God could make everyone happy by just giving them what they want.

Of course, this doesn’t sit well with his religious father (played by Datuk Jalaluddin Hassan), who constantly reminds Aiman to perform his prayers.

After losing his mother and experiencing a series of mishaps, Aiman can no longer bear his suffering. Underneath the pouring rain, he looks up to the sky and asks God to make his problems go away. What do you know, Aiman wakes up the next day and finds himself all alone in the world. Or at least, in his perception of reality.

While Aiman enjoys his solitude, his father files a missing person report and goes on a frantic search to find him. He even has his own Taken moment with a mysterious individual linked to Aiman’s disappearance.

Faizal Tahir and his shirtless album cover picture

Singer-songwriter Faizal Tahir put a lot of thought into the design of his latest album cover Anatomi.

“Who has a scientist jacket?” singer-songwriter Faizal Tahir says while laughing right after someone asked him to explain the meaning behind the cover of his latest album, Anatomi. The striking image features Faizal, 37, posing like the Vitruvian Man, with wings and surrounded by a number of items.

Oh, he’s shirtless, too.

He knows the media will question him on this issue. “If I’m going to explain everything, it’s going to take a long time,” he says during an interview in Kuala Lumpur.

To put it simply, Faizal says the various elements on the cover represent the songs on the album as well as things that define him as a man. It ranges from his birth year (“The horse. It’s also my favourite animal.”) to his belief about duality (“Where there is shadow, there is also light.”) and of course, his favourite football club (“The wings represent the mythical Liverpool bird.”).

The cover also reflects his admiration for women who sacrifice for their loved ones (“The lady with the veil is balancing a number of things on her head.”), patriotism (“The Malaysian flag reminds me that no matter where I go, this is home.”) and the rabbit head is the persona he takes on to entertain children.

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.

5 Money-Wasting Things You Are Probably Guilty Of

Wondering why your monthly income never seem to be enough? Looking for ways on how to save money? If you are reading this, good for you – because it means that you want to do something to manage your finances better. And believe it or not, there are a lot of things you can do, or much rather, change, to be able to save more and find greater rewards in the long run. Here are some spending habits you could begin working on:

Shop smart might save you money in a long run

Are You Guilty Of Using Any Of These Passwords?

With all that Heartbleed Bug news, suddenly we’ve got thinking about the passwords we use. We’ve even had to go through the headache of thinking up new ones all over again (and if you haven’t, you definitely should – check here for which sites you should change now!).

It’s definitely interesting to see some of the ‘creative’ passwords users think of. Some are extraordinarily funny; some are just alright, while some are straight up common and could be guessed within a few seconds.

Some people use the events of their lives as their passwords (we’re serious!). For instance, we have a friend that uses the name of their ex followed by a horrid word to describe their nasty breakup. Perhaps it’s a way for these poor souls to vent their anger… somehow? We think it would only make us more frustrated, tapping out their name every day.

Then there’s always that fail safe… using the word “password” as their password. Believe it or not, this is actually one of the most common passwords used around the world. They actually believe that no would ever guess it, as it’s too obvious. It’s simply amazing how these people’s minds work, isn’t it?

The Top 7 Malaysian Brands Taking Over the Region

Whether you realise it or not, Malaysian brands are going from strength to strength. As you know, we are passionate about supporting local companies so we’re pretty excited by the development!

From fashion accessories to fast food outlets, cheesecake to beauty products, the next time you’re travelling in the region, keep an eye out for some of these familiar made-at-home brands…
 

11 Of The Most Breathtaking Travel Photos Of The Year

The Siena International Photo Awards recently announced the winners of their annual international photography contest and the results are stunning. With submissions from over 100 countries from Turkey to Myanmar, professional and amateur photographers competed for awards in several categories including architecture, nature, and of course travel. Top honors went to French photographer, Greg Lacoeur, who won the SIPAContest Photo Of The Year with his amazing underwater capture of the sardine migration in South Africa.

All of the winning photos are currently on display at the Siena Art Photo Travel Festival, currently being held in the city of Siena, Italy from now until November 30. But if you can't make it to Italy this month check out Lacoeur's incredible photo and a few more of our favorite award winners and honorable mentions from the contest below.

A place in Malaysia you’ve probably never heard of : Bau, Sarawak

The people that live there

There are over 40 sub-ethnic groups in Sarawak and three main linguistic groups: Biatah, Singai-Jagoi, and Bukar and Sadong. In the Bau region located about 40 minutes from Kuching, the major sub-ethnic group are the Singai-Jagoi Bidayuhs. Bidayuh, which translates to ‘people of the land’, were formerly known as the Land Dayaks and they make up the second largest native ethnic group in Sarawak after the Ibans.

People of the Bidayuh tribe during the Gawai Dayak festival | Photo credit: CHEN WS / Shutterstock.com

Tribes in the Bau region are believe to have come from West Kalimantan some 700 years ago. In particular, the Jagoi-Bratak people chose to settle on top of Mount Bratak where they felt it was safe, and that actually held true for quite some time as the settlement was well fortified and flourished.

How Small Businesses Can Prepare for Marketing in 2017

The best way to prepare mentally for marketing in 2017 is to start fresh, with a clean slate. For the moment, forget about what you accomplished and failed to accomplish with your marketing in 2016; set aside all the baggage of frustrations and disappointments you picked up along the way. Think as if you are starting from scratch and ask yourself: What is the one thing we must accomplish with marketing in 2017?

That is really the key question. Small businesses have limited resources -- limited funds and limited time -- so focus is of the essence! Many small businesses go around in circles with marketing because they dabble, trying to do a little bit of everything instead of trying to do one thing really well. Avoid this trap and you’ve already got a leg up on the competition going into 2017.

How To Clean Your Laptop

Cleaning Your Laptop

Unfortunately, unlike the standard desktop, a laptop is not as easy to open and clean. However, there are still several steps an end-user can do to clean and maintain their laptop.

Before cleaning any laptop, turn it off and unplug it from the power source. Also, because you’re going to be cleaning the laptop, we also suggest that you remove the laptop battery.

Sambal Ulek

Hari ni kami masak yang mudah aje.. Kami masak kobis masak lemak putih,  goreng ikan bawal yang masih berbaki dalam peti ais dan juga sediakan sambal ulek. Benar-benar berselera sekali kami menikmati hidangan tengahari.. sesekali makan yang simple-simple ni di hari cuti ni memang membuka selera.

Kalau ada yang nak mencuba sambal ulek, kami kongsikan di sini.

21 Quotes That Perfectly Capture The Thrill Of Traveling

"You have brains in your head and feet in your shoes. You can steer yourself in any direction you choose! You're on your own and you know what you know. Only YOU can decide where to go!"

lofilolo / ThinkStock

Flickr: kokorowa / Creative Commons

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.

Is Your Financial Portfolio Missing One Key Ingredient?

Majority of Malaysians do not have adequate insurance coverage. This situation exists because not many of us are aware of the importance of financial protection, as we’ve been focusing solely on wealth accumulation through savings or investment gains.

What if we told you that not having adequate insurance coverage actually means you will risk missing out on your investment?

According to the “Protection gap or under-insurance gap in Malaysia” study, commissioned by Life Insurance Association of Malaysia (LIAM), both insurance and takaful cover only 56% of the Malaysian population – which is pretty low compared to other developed countries.

Malaysians generally do not take up adequate insurance protection simply because they lack the understanding of its advantages. Some are also under the misconception that insurance is something you get when you can afford it.

However, the reality is, the earlier you get your insurance, the higher the probability of being covered while you are still healthy.

Kuching Waterfront: Bazaar far from bizarre

East Malaysia, on the island of Borneo, has many appealing qualities and the Sarawak capital of Kuching offers a relaxed and yet, vibrant setting. The riverfront district along the Sarawak River, in downtown Kuching, is now an open space used mostly for recreation. It’s a lively pedestrian-only precinct that is frequented by the locals who use it for leisure activities, to enjoy a sunset drink, or have a meal beneath shady trees.

A fascinating part of this riverfront area is the street named Main Bazaar which runs alongside the river. Retail shops, bazaars, and a few dining outlets front the street but there are numerous uniquely Sarawakian and Bornean products sold in the shops here to ensure that the bazaars are a bit more bizarre than mainstream.

The former trading houses, or go-downs, along Jalan Main Bazaar offer an intriguing insight to the area’s historic activities before it became a major tourism precinct. With awnings providing shade, it’s easy to amble along here, and the best place to start your walk is at the former Court House which has recently been converted to an amazing lifestyle concept under the ChinaHouse banner.

What were once go-downs for goods unloaded at the riverside docks are now mostly craft and souvenir shops selling items from Borneo. These old shops with captivating names present a face of a bygone era – names such as Dayak Art, Sarawak Steamship Berhad, and Haiyen Bird’s Nest offer some intrigue before you even step inside.