Take Advantage of Tax Free or Lower Tax for Benefits in Kind

6

Click here to load reader

description

Tax will not be a burden if you can utilize it wisely. Most of my clients view tax as a burden until we show him this slides. Managing tax for more benefits.

Transcript of Take Advantage of Tax Free or Lower Tax for Benefits in Kind

Page 1: Take Advantage of Tax Free or Lower Tax for Benefits in Kind

Take Advantage of TAX-

FREE or LOW TAX for

Benefits in Kind

Page 2: Take Advantage of Tax Free or Lower Tax for Benefits in Kind

Situations where you can enjoy:

Let your driver take the strain: Sit in the

back seat at relax and enjoy a taxable

amount of RM 600 monthly. You employer

sure will spend more for the your salary,

EPF & SOCSO than the cost of the driver!

Enjoy a club corporate membership: You

may be taxed on the amount of the monthly

subscription but the entrance free is FREE.

Get socializing with beneficial from taxing.

Page 3: Take Advantage of Tax Free or Lower Tax for Benefits in Kind

Chill at home: Let the servants take care of

you while you focus on more value added

family bonding time or work- at- home.

Standard amount for domestic servant is RM

4,800 and RM 3,600 for a gardener. Note

that it is applies to the employer.

Sick without worry: Medical, dentist and

maternity are provided to you by your boss

is tax-free but take note on the registered

practitioner.

Page 4: Take Advantage of Tax Free or Lower Tax for Benefits in Kind

Lunch @ Work Canteen: Food and drinks

provided by the employer is either free or

subsidized price and this principle also

covers events which only employees

present.

Free facilities: Free transport, nursery at

company nursery, broadband or a

computer or phone as gift is tax- free. A

win- win situation is generated where

employer enjoys tax deduction while

employees save on daily expenses!

Page 5: Take Advantage of Tax Free or Lower Tax for Benefits in Kind

Tax Exemptions for YA 2008

onwards

Travelling packages: Travel allowances, fuel,

toll, parking allowance provided by your

employers.

Communications: Phone, pager or internet

provided by employer which is registered

under your name and you are tax exempted.

Reduce pricing of goods & services: Employer

may be offering you as an employee for the

goods or services at a discounted rate but it

won’t involve you in any tax liability.

Page 6: Take Advantage of Tax Free or Lower Tax for Benefits in Kind

End of Presentation

The slide is solely for info blogging purpose, no re-printing

without permission and it is a intellectual property of:

CW Management and Consultancy Services

www.cwca.com.my

The writer can be contacted through:

[email protected]

or Whatapps:

016-4225602