Income Tax

One thing need to remember is to include income tax on our financial plan. In Malaysia, all individual who has source of income need to pay tax if after calculation its income reach the taxable income. Source of income includes income from business, salaries, dividend from shared, interest or discount, rent, royalties etc. The rate of tax depend on amount of total taxable income.

Today is the last day to submit BE form to Inland Revenue Board (LHDN). I plan to submit it on early morning, but at 8.30 received call from collegue to open office door. Today my office is declare as public holiday (replacement) and nobody come to office except who need to work overtime. They called me because I stay quite near to the office and I also have the office key. I stayed at the office until 10.oo am. After that I go back to take document to bring to Inland Revenue. Arrived at Inland Revenue around 10.30 and take pin number at the counter. This pin number is need to make e-filing to submit BE form online. I decide to use PC the Inland Revenue office because this is the first time I use it and also there are officer to help if there is any difficulties and also this is the last day to submit. I don't want any problem in the future. I am waiting until 12.00 noon to use the PC. I completed to fill in the form at 12.15.

I need to pay tax RM113.69 after tax rebate. I got tax rebate, zakat RM14.10 and buy new PC RM500.00. One thing I forgot to fill up in the form is tax relief of buying books. I have keep a total of RM186.00 resit that I buy books last year. I miss to include this one because today is too rush for me to do a lot of thing. I the future I will not waiting until last minute to submit the tax form.

After Inland Revenue Department, I go to the RHB bank seksyen 16 to make 2nd OD and to cash cheque to buy freezer and to buy ASB for wife. I also bank in RM550 from salary to OD. Last time already RM3000 already make online transfer. I write cheque RM4100 which is RM2600 I put on wife's ASB and RM1500 I keep to byy freezer later. For OD making, the officer I have met before is on leave, and I meet another officer. I request to make different current account for this OD than OD before but that officer inform can not. She inform for the same branch only one current account need for more than one OD. After that I called my seminar coordinator and he inform can make many current account. After discuss with bank officer, she ask her collegue at another branch, and I decide to go to that branch to make OD with different current account. I am lucky because the other branch is not far from this branch. I go there and submit the form. Waiting for approval, maybe next week. Around 3.15 pm I completed all this job.

I go back and took lunch. At 4.30 pm my wife and I go to electric shop, and we buy freezer RM1100 and tv RM400. Total RM15oo which is budget for freezer. My tv just broke down, thats why I buy new one.

KLIBF - Kuala Lumpur International Book Fair

Yesterday my family and I go to KLIBF to take a look of book and magazine. My wife buy some magazine and make subcription of MIDI for one year. My self buy 3 books (Blogger Blog Blogging, The True Power of Water and Kunci Bebas Hutang), my step child buy a comic and my niece buy a novel. We can improve our knowledge through reding activity and may be more chance to increase our income.