How to save on tax in Malaysia??

Yo guys! April is tax payer month in Malaysia. Here some tips on how to save or escape from paying tax and benefit to your self. Instead of paying to the government (a.k.a IRB @ LHDN - Lembaga Hasil Dalam Negeri), it would be much better you pay to yourself or for your families/children because you work hard all year from 8 to 5 (or more). This is only applicable for individual. If you owned a company, consult with your tax advisor.

• Save for your children's education with Skim Pendidikan Nasional (Up to RM3,000 in tax relief)
• Ask your employer to increase your EPF contribution in lieu of income (up to RM6,000 tax relief - shared with life insurance)
• Change your cash remuneration to cash reimbursement (for benefit-in-kinds that are not entitled to tax exemption)
• Ask for a company car (part of remuneration repackaging)
• Make charitable contributions (individuals get rebates of up 7% of their aggregate income)
• Take up postgraduate studies (tax relief of up to RM5,000)
• Read, read, read (tax relief of up to RM1,000 for reading material purchases)
• Get Sporty (tax relief of up to RM300 for purchase of sports equipment)
• Buy life insurance (tax relief of up to RM6,000 - shared with your EPF contribution)
• Take up a medical insurance shared together with education policy (tax relief of up to RM5,000)
• Pay your parents' medical bills (tax relief of up to RM5,000)
  
• Do a medical check up (tax relief of up to RM500 for yourself, spouse or children) and medical bills for serious illnesses tax relief of up to RM5000 (combined with medical check up should not exceed RM5,000)
  
• Pay zakat for muslim (rebate of up to 2.5% of your aggregate income)
• Buy a computer (tax relief of up to RM3,000 every 3 years)
• Buy propery at or below RM250,000 (50% stamp duty exemption, extended to loan agreements under budget 2009)
• Buy similar property (if similar properties are group together, you can reduce the taxable profit made from one property with the loss, if any, incurred from the others)

(Excerpt from Personal Money April 2009 issues)

Hope this helps. Sharing is caring :P

Lazy Sunday

zzzzZZZZZZzzzzzzzzzzzzz

My Car is still at workshop.



Dunno how long more it takes.

London for Backpackers

I think everyone in the world know where London is. Flight cost can be pretty much expected. Here what I have found recently. One stop portal for those who want to go London. I can say that it is almost the "wikipedia" of London. All information about London is stored the portal. The information and everything you need is at your finger tip at the portal: http://www.qype.co.uk/

First impression of this portal, it is well categorized and it makes easy for visitor to google what they really want to find in London. This London wikipedia website also provide GPS-like or Google-earth-like map. Just click on the map, it will display anything in that particular area that you click. i.e: if you click on Southwark, the information will be displayed from restaurants, bar, entertainment, hostels etc available in Southwark.

As a tourist who has been to many places around the world, pre-plan itinerary would be helpful to reduce cost and save time. One need to consider the following to go to London:
1. A place to stay; hotels vs. hostels London
2. Good restaurants

Hotel vs Hostels London

Knowing London one of the biggest and expensive in the world, I would suggest anyone to choose hostel especially backpackers. There are about 200 plus hostels in London. The hostels London is as good any low cost hotel. From the portal, it also gives review and you can filter out and it can be sort from good to worst or vice versa. Additionaly, it also provides website so that you can pre-online booking without hesitation. The portal will provide you a good place to visit nearest to hostels that you stay. It makes your journey worthwhile and save cost.

Good Restaurants

As multi-cultural city, London serves many cuisines from all around the world. If you know the right restaurants and good review, you will not regret every single dime that you spend for food. For those who love indian food (for your information, many indians migrate to London and Indian is considered as one of the highest migrating foreigner in London); you can't really miss the indian cuisines; be it Southern or Northern Indian Cuisines. Try the indian sweet like gulab jamun or indian spicy like kebab or briyanis. You can find plenty of Indian Restaurants London.

Nice Capati in London

Tasty Dosa in the heart of London

You can find "Little India" just like any other China Town. You'll be amazed!

In summary, the portal gives information that visitors need. The best damn thing about the portal, it supports multi language; major language which is English, spanish, german, French. To make the review is accurate and reliable, every reviewers must be a registered user and login is required.

The only disadvantage of this portal is that, to do pre-online booking; you have to open another website through URL address provided in the website.