It's tax filing season again! Do you know how to file your personal income tax? Is this your first time or are you one of those who forgets the details (as this only happens once a year). That is why we have made a quick guide to file your income tax 2018.
The biggest change we've seen over the years is the increasing number of people moving from manual tax filing to e-filing. Long gone are the days of filling in paper forms, doing all kinds of math in order to calculate our taxes and rushing to the IRB (Inland Revenue Board) offices to submit the pile of forms and receipts. Malaysia implemented e-filing some years ago and it is important to note that taxpayers have now preferred to submit their income tax returns through e-filing. The e-filing system is open from March 1st every year, to April 30th. However, there is a grace period or an extended deadline for e-filing till May 15th. Always remember to double check these dates on LHDN (Lembaga Hasil Dalam Negara) website. The system of e-filing is simple and user friendly and a lot faster than manual filing, that is why it is quickly becoming the most popular for tax payers in the country. But if you still think filing your income tax is still a hassle, don't worry! CompareHero has your back, we have a quick guide to help you file your income tax.
How to file your personal income tax online in Malaysia:
- Basic requirements
- Which forms to use
- Tax reliefs & rebates
- Filing online
- Payment options
- Through FPX
- Over the counter
- Through ATM
If you’re anxious about getting caught in the crowds of people paying their taxes at the last minute, there’s some good news. If you own a credit card, you can opt to pay your income tax by charging it to your card instead. You may also pay your taxes through ATM or over the counter at your local bank if it’s possible.
Check out our awesome infographic below, The Quick Guide to Filing Your 2018 Income Tax. Click on the infographic to zoom in, so that you won't miss any detail!
Once you’ve finished filing your income tax return for the year, you can move on to other pressing concerns like saving more money for the future. Use CompareHero’s online comparison tool to find the best bargains on pocket-friendly credit cards, personal loans, and more financial products.