Just when I was looking for an excel that can help fully make use of my tax. Here I am. Thanks Ziet!!!!
@ZietInvests6 ай бұрын
Hoho lets gooo 😆😆 glad this helped!
@OhCheePeng7 ай бұрын
Very informative. Just I am going to rant again here: the relief for having kids is a joke. The daycare didn't account for the number of children, and 2000 per children is not logical, as the GDP that we contributed as a parent is easily 10x of that. No one is helping the parents in this shrinking population society.
@ZietInvests7 ай бұрын
Hey no problem at all, in fact I think it is a GREAT thing to do for commenting it out here - i'm pretty sure some of the authorities are silently reading the comments 🤭 (the more likes you guys give to a certain comment, the higher likelihood of it being bumped up the comment section for attention)
@jemiez93837 ай бұрын
Provide us the statistic that shows you guys contributed 10x the GDP as parents? and how many kids do you have? and how much more tax relief do you expect the gov should give per children then? 20k per children? or 50k? or 100k? if you wanted higher tax relief then be prepared to pay higher income tax and other type of taxes. if nope then do some family planning to reduce your cost of live.Also dont be one of those people that always spew shit and rant when the gov reverted back from SST to GST then. GST fills more gov coffers and in turn will provide them with more funds for infrastructures and for the citizens.
@OhCheePeng7 ай бұрын
@@jemiez9383 I paid RM7200 for kids insurance per year, RM21000 per year for kids school fee, and RM12000 per year for their food, not include their clothes, travel, books, etc. and only get back 2000 relief. I never regret having more kids, and I believe more kids is good for the family and society. All the spending is not for my own enjoyment, but to the children's wellbeing. All governments should acknowledge the dropping fertility rate of the country and give enough support to parents, to make having kids a rewarding thing.
@cant4617 ай бұрын
may as well you say the same logic for those elderly who needs nursing care ?
@OhCheePeng7 ай бұрын
@@cant461 yes, I am not asking money from government, but just ask to take less from me, as having kids and elders are costly.
@carsonWyf7 ай бұрын
tip: considered moving the in-video subtitle higher so that the progress bar doesnt block it
@ZietInvests7 ай бұрын
thank you so much for the feedback!
@bagatis17 ай бұрын
After 10 years of filing income tax finally a good video explaining Malaysian income tax. Good job buddy. I have 2 question would like to ask here 1) for the internet bill relief, I have Unifi home and Celcom mobile line. Can I claim for both service since both have data package? 2) I have socso and EIS in my payslip, can I claim for both?
@lkwah867 ай бұрын
2) check EA form E2 for the total amount
@keanwoon884 ай бұрын
The information on the 2024 tax relief is very informative! This could be perfect for your annual KZbin content. =D
@ZietInvests4 ай бұрын
Thank you so much for your nice comment! Will definitely do this annually for everyone ❤️
@kmisdone7 ай бұрын
Thanks! Super helpful and timely!
@ZietInvests7 ай бұрын
hehe glad you like it!! all the best 👍🏻
@kmisdone7 ай бұрын
@@ZietInvests btw, do you know if TV can be claimed? Hahahaa...
@limsinkiat997 ай бұрын
Can I claim monthly subscription golf club
@SiaZS7 ай бұрын
Hi Ziet, good and informative video as usual. I have a question, any idea when Moomoo will bring in fractional share? Thank you
@ZietInvests7 ай бұрын
Thank you Sia! At this moment I have not received any news regarding fractional shares ya, rest assured I will update you guys the soonest I got a glimpse of that news!
@SiaZS7 ай бұрын
@@ZietInvests awesome!! Can’t wait. Thanks again 🙏
@sOOny3w6 ай бұрын
thanks for very informative sharing. i would like to ask about monthly internet bill, is it key in monthly payment or need to monthly payment x12 since we declare tax for whole year?
@liberaltart75317 ай бұрын
very good advice as well for PRS
@ZietInvests7 ай бұрын
hehe glad you can relate :3 thank you for watching!
@JoanHurix7 ай бұрын
Thanks for your video. Expenses like battery/hardware replacement for mobile phone/computer are taxable?
@ZietInvests7 ай бұрын
Hi Joan, i believe they are not tax deductibles if it’s individual expense
@kevinonair7 ай бұрын
Great vid as usual, do you have a vid about filing for SSM registered biz owner?
@ZietInvests7 ай бұрын
Thank you kevin! Unfortunately i dont have one yet :x i mainly just get my accountant's help to get it done because it's cleaner to have a proper financials prepared by them
@ZietInvests7 ай бұрын
Do share this video with someone you know to help them save extra money from paying too much tax 💰🤑🤑
@hwangsh12407 ай бұрын
Shares bought through Moomoo is under own CDS or Moo's nominee a/c?
@aseantravels87727 ай бұрын
Thanks for the video. How does LHDN actually verify all the taxpayers relief claims. In the US the IRS actually audits a lot of people employing thousands of staff to go after false claims.
@ZietInvests7 ай бұрын
Hi there, thank you so much for the donation!! So, just like the IRS in the US, LHDN has its own methods for checking the validity of tax relief claims, but the good thing is they might not audit every taxpayer, although they do conduct random audits and also investigate when they spot red flags or discrepancies in the tax filings (like when you bought a huge ticket item like house or car). It's always a good idea to keep your documents in order, just in case they ask for proof of your claims. Happy filing!
@maheshrao1117 ай бұрын
As per the law, one should keep all documents/receipts of upto 7 years, this applies in Malaysia in case of crosscheck/raids by LHDN
@OYG4567 ай бұрын
Does LHDN care about children who lost both parents? I am funding my bro's tuition fees but tax relief for children only applied to married individuals :) I personally think it's unfair😐
@yeesunher62787 ай бұрын
Hey guys, what are the institutions that are recognized by the Ministry of Higher Education as mentioned on 21:30? Thanks.
@cenation3197 ай бұрын
informative..it will be good if have guides for small business owners too..
@ZietInvests6 ай бұрын
Thank you! I try to make one next time!
@lowNshallow276 ай бұрын
Where can I find the list of self enhancing institutions you mentioned at 10:16 ?
@MrKattie1236 ай бұрын
10:00 hi! Just want to know where to get the detailed version of the tax relief explanation? I went through LHDN website but that one seems like a general one, but not as detailed as what you shown in the video.
@aranperumal7 ай бұрын
Saya wira negera , first time bayar cukai, tak banyak pun tapi bangga zeit bayar cukai saya. Hahahahaha
@ZietInvests7 ай бұрын
bayar cukai tu hobi saya
@drustan68907 ай бұрын
I’m currently subscribed to AIA A-lifelink2 , does it count towards tax relief?
@ZietInvests7 ай бұрын
Hi there, I believe its a yes, your plan should qualify for tax relief under the life insurance and EPF category - can always double check with your insurance agent, they will know best!
@rndchan14055 ай бұрын
Question....For voluntary EPF contributions, I suppose this can be done for workers (not just non-working housewives) who are already having monthly EPF deductions? If so, how about withdrawal rules? in case we need to use it? Can we withdraw those voluntary contributions at any time? any penalty? thanks
@raymondc967 ай бұрын
Ziet do you buy cryto currency, what platform did you use ?
@ZietInvests7 ай бұрын
Hi Raymond, i dont hold and trade crypto ya 😁
@BoinkDoinkOink7 ай бұрын
What about carer expenses for healthy parents? Previously, it was stated we were eligible to claim up to RM3,000 for their care.
@stevekujo63637 ай бұрын
Are the insurance claim are for the total 1 year? For example base on the example the deduction are Rm 106.80 X 12 month= Rm1281 So on insurance premium box is written as RM1281. Same as UNIfi bill written as total year? Am I right? Never fill up this before.
@Malaysia_Stories7 ай бұрын
Can you suggest in my case if I can file return as Tax resident or Non-tax resident for FY2023.. Arrived in MY 28/6/2023. Left to other country(social visit) - 13/10/2023 Back to MY(21/10/2023) Stayed in MY until 31/12/2023.
@ZietInvests7 ай бұрын
Hi there, for tax residency, it usually boils down to the number of days you've stayed in the country during the tax year (in Malaysia, that's 182 days or more in a calendar year). Based on your dates, it looks like you stayed in Malaysia for more than 182 days for the year 2023! But please give LHDN a call to confirm ya
@lkwah867 ай бұрын
(13) SSPN The amount is filled up automatically every year if you're entitled.
@luckymaggie65947 ай бұрын
There is a new section tax exempt from foreign source income. Could you please touch on that too?
@ZietInvests7 ай бұрын
Hi maggie, could you link me to the particular section you're talking about? Or do you mean it's under the Borang BE?
@luckymaggie65947 ай бұрын
@@ZietInvests yeah under be from be form, under income section. At the bottom, pendapatan punca luar Malaysia yang diterima yang dikecualikan cukai. Seems whatever foreign source income you remitted back even though it's tax exempt, you need to declare it. But I am unsure, please guide us .
@robintan5025 ай бұрын
17:45 we might not like the returns from a PRS scheme, but since the money is illiquid and stuck in KWSP anyways, and not that we can take it out to do our own investment, wouldn't it still be a viable investment regardless, at least make the illiquid KWSP funds work for us in some way. Correct me if I got it wrong
@mitv-qw6bb6 ай бұрын
If I got submit epf voluntary excess from 11% to 20%, can this use on tax exempt to reduce my chargeable income? Or lhdn only calculate based on complusary epf 11% only?
@hawyhai86567 ай бұрын
Hi, I wanna ask if section 6,7 epf and life insurance 7000 total 7. Life insurance & additional voluntary contribution to EPF, can i fill in Mandatory contribution to here? let say I was mandatory contribution to EPF 8k per year, I filled in no.6 EPF 4k max, I still have another 4K left, can I fill in to no.7 life insurance & EPF?
@dleong7 ай бұрын
No. Example: Mandatory EPF contribution RM7k Can only claim 4k max. The life insurance / SELF VOLUNTARY EPF contribution is the remaining 3k. Your mandatory EPF contribution doesn’t apply to the 3k.
@tteh5997 ай бұрын
Are expenses incurred during parent's hospitalisation eligible for tax deduction?
@vister67577 ай бұрын
Usually they will tell you only for critical illness. It's the same even for any expenses for your parents when lhdn audit the officers will say you can only for critical illnesses. My friend got audited and was told that.
@nicolegrace25456 ай бұрын
I just started working October 2023 last year, do I need to file for income tax too? Some people said it's only for those who've been working for minimum 1 year, some said i need to file anyways. I'm so confused haha
@emyt44617 ай бұрын
Thank you again for great information
@RajeswariSubramanian-vu3qd6 ай бұрын
Hi, Can I claim income tax for the house rental that I’m paying now?
@dhinneshjeevan85067 ай бұрын
Are dumbbells and yoga equipment considerable to claim under sports equipment? I guess they are not sports..right..?
@ZietInvests7 ай бұрын
Hello ~I would think dumbbells and yoga equipment are generally considered sports equipment! (You can actually give a call to LHDN to confirm this one!)
@dumdc19037 ай бұрын
hi, would like to ask if overseas receipts are allowed? let's say i had my dental surgery and purchased insurance from other countries. is it allowed?
@hrplentonglienhuat73556 ай бұрын
which part should I key in for tax exempted at rm2000(long service awards) in form BE? in EA I put in at item(F)
@justinjee30347 ай бұрын
Anyone has any idea about the F column in our EA form TOTAL TAX EXEMPT ALLOWANCES / PERQUISITES / GIFTS / BENEFITS where do we fill this up on the assement
@dleong7 ай бұрын
Not filled. It’s just to show certain part of your allowance that are not taxable if you’re comparing with your salary slip.
@sherick1185Ай бұрын
Thanks for informative video. How about the deduction for zakat (compulsory Muslim charity). Should it be paid in Malaysia? How to certify it since there won't be any receipt? P.s. 2000 rm per child is weird amount. For comparison, it's ~7700 rm in Thailand for kids born after 2018. That clearly shows country's demographic policy.
@ZietInvestsАй бұрын
Thanks for watching! For zakat, it depends on where you're residing-if you're in Malaysia, you'd typically pay it here, and no need for a receipt to prove it, as it's a charitable contribution. That 2000 RM per child is interesting, and yeah, it differs a lot from other countries' policies like Thailand!
@wy35567 ай бұрын
i recall there was a tax relief for equity crowd funding. but didnt seem to find it this time. is that removed?
@joycecheng967 ай бұрын
Hey Ziet, may i ask - if we look at the EA form for section D, item 5a, may i ask where does this fall under the income tax form?
@dleong7 ай бұрын
Not filled anywhere. When your BE form is concluded, you may have tax of 20k and refund of 2k. If the D 5a refunded you 1k previously. They will refund you only the remaining 1k.
@amirmanzoor53932 ай бұрын
Informative video
@ZietInvestsАй бұрын
Thank you amir, glad you liked it!
@flauta12387 ай бұрын
So I searched for the Ireland double tax treaty, and found out that my country didn't have one. So I'm guessing this means that I will get taxed by Ireland for my dividends still, which I think it is 25%.(I wonder if its 25% after US tax or before) Anyways I'm wondering if at this point it's just better to buy US domiciled ETFs. Thank you for your videos and time!! Ive done a lot of research thanks to you xd
@ZietInvests7 ай бұрын
Hello ~ thank you for the kind words! Ahhh and in that case, i think might as well just go for US domiciled ETFs since the liquidity makes up for the ~5% losses which is very minimal in the large scheme of things. Hope this clarifies!
@reynardlee22357 ай бұрын
Question! If i just started working the last 2 months of the year (assuming RM4k monthly~). Do i need to do anything for refunds? I am enrolled for the PCB tho
@ezjay877 ай бұрын
I assume you worked for Nov & Dec, then yes, you can get your tax refunds. Get the EA form from your employer and go ahead and file your taxes. 😊
@ouvl257 ай бұрын
Thanks friend for your favorable video
@najwahairuddin71887 ай бұрын
Hi Ziet, how about partime job, do we need to declare too? Should we ask for EA form from Partime emplyer as well?
@ZietInvests6 ай бұрын
Hi, part-time employers usually don't have EA form (you can ask), but technically these income should be declared (though many people skip this one haha)
@najwahairuddin71886 ай бұрын
@@ZietInvests thank you Ziet
@Rudolffreeeeeeeman6 ай бұрын
thanks for sharing this again!
@ZietInvests6 ай бұрын
no problem buddy!!
@hoetong60647 ай бұрын
Is gross income is generally monthly income after deduction of epf? From where to verify it? Anyone can help?
@tvlim97127 ай бұрын
is an earning from local share market taxable? some say no some say it is a grey area.
@ZietInvests7 ай бұрын
I personally don’t think it is - but best call up a local tax accountant (plenty of them from google) and they will definitely know the answer to that😄
@SH-jn1sj7 ай бұрын
Can I claim tax relief for proton monthly return payment
@carolrockey7 ай бұрын
If I'm attending swim class is this tax deductible? Additionally I have a maid to take care of my father is this allowed ?
@diniehilman21447 ай бұрын
hey bro, why moomoo malaysia dont have fractional stocks buy.
@ZietInvests7 ай бұрын
Not….yet! Im sure its coming soon, probably havent get regulatory clearance to do it
@rnope96725 ай бұрын
Bought used iphone on shopee,does it count as tax relief too?
@alicecgc16 ай бұрын
Hepatitis vaccination entitle for tax reliefs?
@abuharis4215 ай бұрын
super great video!
@sej75617 ай бұрын
can you also do for expat in Malaysia, what are the tax relief that are allowed to refund?
@veniveronica67375 ай бұрын
Can do from phone?
@jasonxjia847 ай бұрын
Do we need to pay capital gain tax for US stock ?
@freakymeltdown16 ай бұрын
He did a video on this. No you don't pay tax for CGT
@bleuray907 ай бұрын
interesting to note, the chargeable income is deducting EPF contribution? I must have been wrong all this time..
@ZietInvests6 ай бұрын
yup haha, glad this helps!
@lkwah867 ай бұрын
(12) Child Care Centre / Kindergarten If I got 2 kids both having 3k child care fee, can it claim by father and mother for each?
@stefanocicchinitravelfoodi66346 ай бұрын
Very nice informations. I am an Italian content creator and I sell digital products online. I would like to transfer my tax residency to Malaysia. In Italy, you are considered a tax resident if you live less than 183 days abroad per year. What would you advise me to do? I have read that in Malaysia, incomes generated outside Malaysia are not taxed. I currently have an online company in Italy. Do you suggest I open a company in Malaysia or an LLC in the USA? All my payments go through Stripe and Revolut (European online bank). Do you think we can reduce the tax rate to 0%? What do I need in Malaysia for this?
@kluangh1tam7 ай бұрын
I thought the ultimate way for tax relief was to be in B40 categories?
@limsinkiat997 ай бұрын
Can claim monthly golf club subscription
@propertytsunami30717 ай бұрын
yang tak ada pendapatan kena submit e-filing tak?
@ZietInvests7 ай бұрын
Kalau pernah register LHDN, boleh submit je dengan pendapatan 0.
@whateveriwan7 ай бұрын
Is yoga pilates class membership eligible for tax relief ? Some say yes some say no I'm so confuse 😅
@ZietInvests7 ай бұрын
Hi there! I get why this could be confusing! As far as I know, fitness classes like yoga or pilates aren't eligible for tax relief under personal tax deductions, BUT...if it's a grey area then....🤭 (if it's not tooooo much then i dont see why not just whack it in hahaha) - please dont take my advice, call up LHDN to confirm ya
@cwcheng137 ай бұрын
Hi Ziet, how do you declare income from Adsense?
@ZietInvests7 ай бұрын
I do it via my Sdn Bhd ya, previously I did it via Borang B (Individual with business)
@ijim20047 ай бұрын
Money earn from selling KLSE shares.. need declare?
@ZietInvests7 ай бұрын
in my opinion, those capital gains are not taxable, but then again, can give LHDN a call to confirm that ya
@styfrung7 ай бұрын
Which number I should I take from the ea form to fill it? Can you teach that please
@ZietInvests7 ай бұрын
Hi, sorry but do you mind elaborating your question?
@ivankhoo937 ай бұрын
@ZietInvests hi , can elaborate, why income u consider its gross (after epf deduction) ? Referring in BE form, it would refer to gross and doesnt include epf deduction. But in your video = gross income (after epf deduction) - tax relief - tax exemption ?
@onelove3707 ай бұрын
claims need proof? or just claim max amount?? or only with receipts
@lowNshallow276 ай бұрын
you definitely need the proof @ receipts. keep it for 7 years from the year you declared it, as the may call you for an audit
@xxl19507 ай бұрын
What is ANGEL investment ?
@ZietInvests7 ай бұрын
I explained it in this video: kzbin.info/www/bejne/rWK2anSao8ylkMksi=krZSba-zGgnHtxbl&t=538
@rnope96726 ай бұрын
When is the last date for BE
@cocochia18307 ай бұрын
Can more than one person to claim parent relief in a year ?
@ZietInvests7 ай бұрын
Cannot ya
@Dharmen977 ай бұрын
You graduated from UNITEN?
@ZietInvests7 ай бұрын
yup!
@hades_06067 ай бұрын
Ez put tax on yr product charge customer for the tax ...
@ZietInvests7 ай бұрын
👀
@j5samsungj5samsung146 ай бұрын
I thought only 60%of the premium paid for medical policy are eligible for tax relief or am I wrong?
@ZietInvests6 ай бұрын
According to their guideline its up to RM 3,000 for medical and education insurance (combined) - can call LHDN to double check tho, not sure where you got the 60%
@j5samsungj5samsung146 ай бұрын
@@ZietInvests sorry overlooked, you're right.Medical/life premium is 60%, medical premium is 100%
@yeapsoon31157 ай бұрын
Easy, just don't pay tax.
@ZietInvests7 ай бұрын
😂😂 jangan
@freakymeltdown16 ай бұрын
Can LHDN come after us after more than 7 years record? Example in year 2006 and 2009.