I can't believe how much paperwork is involved when it comes to salary, superannuation and taxes.
Now it's tax return time.
Since starting work, every pay packet our employers withheld some of our salary for the tax office according to their estimation on how much we should be paying for taxes (means tested). Anyways, on average about $600 PER FORTNIGHT*(without salary packaging) of our salary is withheld for tax purpose. BANYAK GILA derang ambik kan.
So come tax return time, we get to claim most (not all :( ) of it back because in reality we don't really have to pay that much tax. This year since our accountant is going to do our tax return for us free of charge; well, might as well put it in her capable hands. I can't believe next year we have to do this by ourselves. Ni dia buat kan pun pening kepala with managing receipts etc etc.
**Health professionals in the public system get a perk called "salary packaging".
It works like this. Say your gross salary is $1000. For example that would incur a tax of $200. So you would only get $800 in the bank on pay day.
With salary packaging, your gross salary is $1000. But the employer holds on to $600 for example. So your "salary" is "only" $400. Therefore it may only incur a tax of say $50. So then you get $350 in your bank account on pay day then 2 days after that the employer returns that $600 so in pocket you will get $950. Ha ha. Save on those taxes eyh?
The only catch is you have to prove that you use $600 (that is to be packaged i.e. held on by the employer). So it can be your rent, car payments, bills, childcare etc. Kene tunjuk receipts as proof of spending. Jenuh sikit.
Anyways, in Warragul, because they are a different employer, we have to go through the whole process of applying for salary packaging AGAIN. I've been scouring for receipts, printing internet banking receipts, photocopying bills...adoi..banyaknya kertas. Tak tahan betul.
3 comments:
sebab dia saja nak bagi orang malas clain tax balik.
betul tak?
sama macam LHDN. i've sour experience with them..brrr
ish betul la..i believe that's the case too!
masa memula masuk kerja dulu, my salary was 1100 (ringgit). bila confirm, my co. backdated our salaries causing us to receive a lot of money. since they have PCB(potongan cukai berkala), when you reached certain salary, so they hold back our salary & automatically remitted it to LHDN. I started working in 2002. Lepas tu berapa tahun tak kena PCB. just a letter stating that i don't have to pay tax, tapi tak pulangkan balik pun duit tu.
entah kenapa, lepas tu dapat surat file transfer pergi seremban, padahl i live in KL this whole while! tahu-tahu kena pcb lagi, esp bila bonus masuk. then it amounted to RM 1K++, and they haven;t return my money even though i provided all the receipts (LHDN used self tax assessment which means online and DIY) and i was selected to be audited.
Lepas dah kena audit, still tak return duit. akak mengamuk through email LHDN. tulis pun berapi2. hamik ko. sampai LHDN Seremban dah kenal nama akak because the e-mail boleh sampai ke ketua pengarah dia orang, hahaha! tak sampai seminggu, cheque dah sampai.
huh.
ni baru ni kena lagi, dapat surat kena bayar tax even though TM dah tolak PCB siap2, and i pay my zakat which caused me to be able to claim excess tax paid to them. dah 2 tahun jadi macam tu. tapi kali ni akak tone down sikit email.
konon claim, LHDN will refund your money 30 days after you do e-filing. mine? take years!!
aduh sesi meluah perasaan :P
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