Its time to file for
income tax, again.
• Individual
relief = RM9,000.
• Which means, RM750/month, or RM25/day for
all expenses, including food, accommodation, transportation, household
expenses, utilities, clothing, entertainment etc.. How can anyone living in a city survive with RM750/month, with the
ever-rising living cost ?
• Rebate
for books = RM1,000. Anyone spending that kind of money for
books ?
• Rebate
for broadband subscription = RM500. mana cukup ?
• Rebate
for house installment = RM10,000. Why only for property bought between 10th
March 2009 till 31 December 2010 ?
• Minimum
taxable income ( for a singleton ) = RM2,450 net
• if we calculate it backward, Minimum taxable
income ( RM2,450 ) = [ Annual Income ( RM17,856 ) – Individual rebate( RM9,000 )
– EPF ( RM6,000 ) ] - Tax relief ( RM400 ).
• Thus, an average singleton earns more than RM1,488/month
are taxable. Unless he/she is entitled
to a lot more of rebates and reliefs.
• In 2010, there are 5.5 million registered individual taxpayers in Malaysia ( NST, Tax refunds in 30 days, 24 Mar 2012 ), out of 11,129,400 employed labour force ( Department of Statistics, Principal Statistic of the Labour Force, 1982-2011 ).
• Which means, of 11,129,400 employed labour, almost half of them are not paying tax, either they earn less than RM1,488/month, or simply don’t pay.
• Per
capita income of average Malaysian = USD9,656 ( @ RM28,968 º RM2,414/month ) ( World Bank, 1990-2010 )
• Average Malaysian’s income are
taxable, why only half of the workforce pay tax?
• IRB
collected RM15,574.59 million in 2009 from individual taxpayers. ( IRB Annual Report, 2009 )
• IRB’s Annual Report dare not to publish
the number of taxpayers, why? How many
taxpayers contributed to the tax revenue ?
Posts
