Covid-19 Test Kits & Vaccination Are Tax-Deductible for Year 2021
Just a few more days left! Don’t miss this out when you file your taxes! At this point, we are pretty sure most of us would have spent money on Covid-19 tests or even vaccination. Well, good news for you! You can claim up to RM1,000 back as tax relief this year. Just make sure […]
Do You Need To Declare Your Rental Income to LHDN?
Not sure whether you need to declare your rental income to LHDN? 🤔 The answer is YES! 🔑🏠 If you own a property and receive a monthly rental – regardless through an agency or directly from the tenant – you are required to declare the income earned. A few things to note: 📌 Rental income […]
Quick Guide to Tax Deductions for Donations & Gifts
What constitutes LHDN-approved donations, gifts, and contributions? Is there a limit to how much you can deduct? Here are some basic queries of tax deductions for donations and gifts which you can use to lighten your tax burdens. If you have any other questions, reach out to us via WhatsApp https://wa.me/60143248237 and our team will […]
[Frequently Asked Questions] Income Tax in Malaysia
Whether you are a seasoned tax filer or a first-timer, you can never be 100% sure when filing your taxes. Chances are you would have some questions along the way and end up turning to Google or any tax consultants in your social circle. Here are some of the frequently asked questions for all things […]
How To Determine Residence Status?
A couple of weeks ago, I had a client asking about tax residency status for a few of the company’s employees. This would of course depend on the length of their stay in Malaysia 🇲🇾 Why is it important to determine tax residency status? 🤔 📌 It determines whether or not the employee can claim […]
Top 5 Automation Features in Xero
What’s next after digitalisation? 🤔 💻 AUTOMATION! We all know that business and accounting processes can be rather tedious and time-consuming. Now, imagine saying goodbye to mundane data entry and hello to increased productivity! 🤩 If you like the sound of that, you want to check out XERO accounting software. Here is the top 5 […]
Here’s a Quick Check Whether You Should Submit a Form E
All Malaysian businesses – large, medium and small companies have to submit Form E to the Inland Revenue Board (IRB) by the end of this month. Sdn Bhd companies irrespective active or dormant, with or without employees are required to file Form E as well. 🚨 Failure to submit Form E would result in a […]
Guidelines on Tax Treatment on the Income of Medical Practitioners in Private Hospitals
A few years ago, there was a widespread claim on tax evasion by doctors and audits by LHDN 😨 It was mainly due to the formation of private limited companies by doctors – which is entirely legal. But that triggers a whole other dilemma – should the income be assessed under the individual or the […]
[YA 2021] Tax Relief on Medical Expenses
Our recent sharing on tax reliefs and deductions has been well received, so much so that we received even more questions from you. We always welcome your comments and our team are working to proactively share valuable information and insights – especially during this tax season. Today we are focusing on tax relief for medical […]
Guide to Filing Taxes in Malaysia – Tax Deduction for Children
Being a parent is the most rewarding job in the world, but it comes with a “price”. We all know how expensive raising kids can be – which explains the tax deductions parents are entitled to. Pay close attention to the list and tax breaks that can make a significant difference on the amount of […]