As the deadline for filing our tax returns looms, many are looking to verify the specific tax reliefs allowed as well as find ways to maximise their tax savings. Here are the answers by the tax office to some of our readers' queries.
I RECENTLY sold my house for RM57,000. It was about 30 years old and this is the first time I have sold a house. Do I have to declare it in my BE form? If yes, under which column?
You have to fill up form CKHT1A and CKHT 3 (which can be obtained from our website at www.hasil.gov.my). Please submit the forms to the IRB branch where your tax file is registered.
My late husband left me about RM100,000 cash. Do I have to declare this amount in my BE form? I am a retiree aged 64 years old.
Gift from inheritance is not taxable.
I have both salary and business income which I have been submitting under employment all these years. Is there any possibility to switch to submitting under business income?
You have to submit Form B, which is for an individual who has a source of income from business. You also have to fill up your employment income in this form (under Part of Statutory Income From Other Sources).
I am undergoing treatment for hypothyroidism, a chronic disease requiring continuous medication and treatment for the rest of one's life. Are treatments for thyroid disorders included in the list of deductions for chronic diseases?
Relief of RM5,000 applicable for “Serious disease” only includes AIDS, Parkinson's disease, cancer, renal failure, leukaemia and other similar diseases. The “other similar diseases” here are heart attack, pulmonary hypertension, chronic liver disease, fulminant viral hepatitis, head trauma with neurological deficit, tumour in the brain or vascular malformation, major burns, major organ transplant and major amputation of limbs. However, you can write in to the Tax Policy Department, IRBM, to get consent for your case.
According to the IRB's website, the list of allowable deductions for medical expenses incurred for parents includes expenses at nursing homes and for dental treatment. Are medical expenses for parents for treatment at hospitals or clinics allowed for deductions?
Yes, they are allowable. Individuals can claim medical expenses for parents up to a maximum of RM5,000 per year. Receipt from the medical practitioner (only those approved by Malaysia Medical Council) is required as evidence for certifying that the medical treatment has been provided to the parents.
Are subscriptions to publications such as Financial Times allowable for deductions?
Expenses expended in the basis year for the purchase of books, journals, magazines and other similar publications (in form of hard copy or electronic) for enhancing the knowledge of the individual, his/her spouse or his/her child are allowed. Books would include school textbooks, periodicals and comics whether purchased locally or overseas. Newspapers or banned reading materials such as morally offensive magazines are excluded.
My spouse and I have a separate filing under Borang B. Last year we each put in RM50,000 to expand our farming activities in our orchard so as to generate income after our retirement. How do we report this when we file our income tax?
RM50,000 is considered as capital expenditure which you have to declare under owner's equity in Form B.
My wife is a self-employed salesperson. She has contributed RM100 monthly in the 1Malaysia EPF scheme. Can she file this as part of the RM6,000 relief Insurans nyawa dan KWSP?
Yes, you can claim up to RM6,000 for Insurans Nyawa dan KWSP (Life insurance and EPF).
My wife bought a RM1,000 compact digital camera for her sales use. How can she file this as office/stationery expenses?
Digital camera for sales use cannot be claimed as a stationery. You can claim it as an asset and deduct capital allowance.
I started to contribute RM3,000 a year to my eldest son's SSPN account (joint name with myself). My wife started to contribute RM3,000 a year to my youngest son's SSPN account (joint name with my wife). Does the date of deposit matter (done in a few separate dates in same year 2010)? Can both of us file RM3,000 myself and RM3,000 wife, each in this case?
Yes, both of you are entitled to claim the relief restricted to RM3,000 a year per person (separate assessment).
Is the computer relief Pembelian Komputer Peribadi untuk Individu usable by both myself and wife (RM3,000 each) at the same time if we file separately?
You and your wife can claim the relief which is restricted to RM3,000. This relief is allowed once every three years.
Is the relief Yuran Langganan Perkhidmatan Jalur Lebar (Broadband subscriptions) usable for both myself and wife (RM500 each) at the same time if we file separately?
The deduction allowed is limited to RM500 a year for broadband subscriptions that are registered in the name of the individual.
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