Tag Archive: income tax

tax-relief-vs-tax-rebate

Tax Relief vs Tax Rebate: What’s The Difference?

By April 6, 2021 12:27 pm

The tax season is here again, and you’ll have to file your personal income tax returns by April 30 this year. There are so many income tax terms to understand that sometimes, we get confused. Today, we’ll be looking at the difference between tax relief and tax rebate. What is tax relief and tax rebate? […]

maximise-income-tax-relief

Income Tax Relief: What Can You Claim In 2021 For YA 2020?

By April 5, 2021 3:13 pm

Do you know what is income tax relief? Tax reliefs are set by Lembaga Hasil Dalam Negeri (LHDN), where a taxpayer is able to deduct a certain amount for cash expended in that assessment year, from the total annual income. These are for certain activities that the government encourages to lighten our financial loads. For […]

income-tax-foreigners-working-in-malaysia

Income Tax For Foreigners Working in Malaysia 2021

By March 15, 2021 10:25 am

The first thing that should be noted is that in Malaysia and most other countries there are different ways that expats are classified based on the time they worked in the country. Non-resident working in Malaysia You are considered as a non-resident under the Malaysian tax law if you stay less than 182 days within […]

how-to-file-income-tax-manually-and-online-malaysia

2021 Malaysia Income Tax e-Filing Guide For Newbies

By March 8, 2021 12:10 pm

You can almost hear the groans about filing of taxes from everyone. It’s time to do your income tax again, everyone! (do it before 30 April 2021 for manual filing and 15 May 2021 for e-Filing). For new tax-payers, we’re going to make it easy for you with an easy-to-use guide. Starting from tax paying […]

malaysia tax exemptions 2019

7 Tax Exemptions in Malaysia You Should Know About

By April 29, 2019 11:27 am

[Updated on 29th April 2019] Tax season can be a stressful time for anybody. If you’re already juggling your bills, groceries, and other housing expenses, finding out that you owe the government back taxes can be a real nightmare.

Budget 101: How to Create a Personal Cash Flow Statement

By March 13, 2017 3:35 am

This will be the third part of our ongoing series on personal financial statements. The topic this time is your personal cash flow statement. If you’ve read our previous entries on making a personal income statement and creating a personal balance sheet, you already have a good system in place to keep you financially healthy. […]

How to Save up to RM6000 on Taxes This Year

By March 13, 2017 3:20 am

In Malaysia, many people make the mistake of forgetting to pay their taxes, only to remember when the back-taxes have already piled up. While some manage to pay it off, others end up having to seek financial aid from loan companies.