Lifestyle Tax: Good or Bad?


It’s not just home financing schemes that’s gotten a make-over; the way you claim your tax relief is just about to change, too. The new tax is called the ‘lifestyle tax’, and it’s actually an amalgamation of several different tax reliefs that were available (or once available) several years prior. Even better yet, it looks like it might still be ...

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Keep Receipt-Recording Simple!


Pieces of paper are notoriously easy to lose. Important pieces of paper that are also small, such as receipts, are a pain to deal with. To make matters worse, the ink on some receipts also fade over time! Unfortunately, faded ink is not an excuse when the Inland Revenue Board , or Lembaga Hasil Dalam Negeri, comes knocking. Take note ...

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Amazing Income Tax Tips You Need to Know


The deadline for the ever-dreaded income tax filing period is fast approaching, so for those who haven’t done it yet, it’s time to hustle! The amount of tax you pay is based on your chargeable income, which is the amount derived from subtracting tax exemptions and tax reliefs from your taxable income. But did you know that your chargeable income ...

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The Path to a Painless Income Tax Filing


For those who despise paperwork, end of April – or end of June, if you own a company – is probably the worst time of the year. That’s when your dreaded income tax filing is due. Figuring it out is a tedious process, and if you’re not familiar with how you should fill out your forms, or how tax rebates ...

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