Skip to main content

Posts

Showing posts from April, 2018

Personal Income Tax 5th March 2018

Assalam and Hi! So last 5th March our company held a talk for outsiders on the personal taxation. So I just wish to share some of the notes: 1. Monetary Exemption - exempted allowance received Section 13(1)(a) of ITA 1967 a. RM6,000 Travelling allowance for work related, i.e. for travelling fro and to working place b. Meal allowance (infinite - must be reasonable) c. Parking allowance (must based on the actual cost incurred and have relevant receipt as record, not simply reimburse) d. Handphone subscription allowance (limited to 1 line only) e. Innovation or Long Service Award or Top Performance Award (restricted to max RM2,000 per year)  - for long service award, must be working >10 years in the same Company or within the same group f. Subsidy on loan interest (this is for employee working with Bank or financial institution where the Co subsidize interest on loan given to employee - loan must be less than RM300,000) 2. Service Directo definit

Family

Assalam and Hi! I realise, family are my greatest source of strength! As per what I had been talking about - I used to be workaholic, I mean I don't mind to spend lots of times for work. But at last, I realize - its not worth. Totally not worth because of: 1. I can't claim OT 2. Its not appreciated I thought by working hard, my superior will recognize my hard work, at least appreciate. Who knew, they don't like it. Hell yeah. I came here to work, I don't even mind stay back, almost everyday. But the environment -  days by day made me fed up. Seriously. You work too hard - people don't like. You don't really work - people complain you. If I could choose, I will just resign. But its not a wise decision to resign emotionally, without preparing for plan B. So. Need to wait for a good time.