Taxes! Taxes! Taxes!

Discussion in 'Adrian Wong' started by Adrian Wong, Jan 27, 2006.

  1. doraemon

    doraemon Just Started

    tat's y! all the taxes we pay are for nothing!:wall: :wall:
     
  2. mahakanjus

    mahakanjus Newbie

    nope you are wrong taxes pay for nice government administration buidlings in Putrajaya and pays the government servants... that's teachers and doctors too!

    anyway for Malaysia you dont have to submit any documents just fill in the form sign and submit before the deadline. unless you have a tax repayable case from dividend income then you submit together with the original dividend vouchers.
     
  3. peaz

    peaz ARP Webmaster Staff Member

    Well, you would also need to submit in any reciepts as well to get those tax deductions right? Magazines, books, PC, etc

    Don't worry Adrian my first time too! :waves: And I've yet to fill it in also! :wall: better do it this weekend.
     
  4. Dashken

    Dashken Administrator!

    Aiyo... my basic salary also haven't exceed RM2500... why la I get taxed. Gee.. I haven't even register myself yet. :shifty:

    They shouldn't count OT what... :hand:
     
  5. Jeremy

    Jeremy Black Sheep

    Don't worry, you're getting your advice directly from a professional who certainly knows his stuff. :thumb:
     
  6. Trinity

    Trinity Little Kiki Staff Member

    Arrrrrrrrrrrrrrrrrrrrrrrrggggg!!!!!:shock: :evil:


    :wall: :wall: :wall: :wall: :wall: :wall: :wall: :wall:


    Just figured my tax's,,, :shock: :shock: :shock:


    And I owe over $500 bucks!:wall: :wall: :wall: :faint: :cry:
     
  7. noodle

    noodle Newbie

    Taxes, one of the only things in life that are guaranteed

    In the UK we pay plenty of taxes, here is just a few

    Income tax at 10%/20% and 40%, the percentage depends on your income and they don’t kick in until certain thresholds, e.g. first 5K at 10%, next 20k at 20% and the rest at 40%. Not sure of the exact figures but it gives you an idea

    Value Added Tax at 17.5% paid on most goods you buy, included in the price you see in shops, this includes some services such as gas, electricity and telephones. There’s a big list to which VAT is applied.

    Council Tax – An annual tax paid over the year based upon the value of the property you live in. I own a small house, which costs me at 850 a year. The tax is collected to pay for local council services.

    Road Tax, based upon the type of vehicle you own. I’ve got a two-litre diesel that costs about £180 per year, the smaller the engine/cleaner the engine the lower the tax.

    National insurance – Not as such a tax, but it’s deducted from pay, between 2-10% per year, depending on the scheme you’re in. This is meant to pay towards health care (NHS), social security benefits.

    There’s duty on fuel that’s why petrol and diesel cost in excess of 90 pence per litre.

    I sat down once and worked out that I work 10 months a year before any of my salary is actually mine (taking into account taxes, living expenses such as mortgages etc etc). Can any one offer a poor Software Test Analyst a better job? I can make good tea and coffee
     
  8. Trinity

    Trinity Little Kiki Staff Member

    :roll:

    Jeeezzzuss:roll: And I thought I had it bad.:faint:

    But you got free national healthcare in UK right?:think:
     
  9. noodle

    noodle Newbie

    Generally speaking we get free health care. You have an option to obtain private health care, which is the same as medical insurance.

    The system isn’t perfect. There are waiting listing for surgery, based upon the need. I had to weight almost 2 years for minor surgery, but I know that if i'mseriously ill you’ll be seen almost immediately.

    If you have private medical insurance you are generally treated quicker

    Your not charged for a doctor’s consultation. When you are prescribed drugs you generally pay a fixed amount per item. It’s about £7.00. So you can get drugs that cost significantly more then the fee or significantly less then the fee, it sings and round abouts.

    The system isn't perfect but it does protects those who need medical care the most.

    There’s plenty of issues associated with the NHS, such as under funding and a standards of care based upon where you live.

    When I look back at the system I feel lucky that such services are available, it certainly hits home when I take my wife’s pets to the vets and the cost of medical care for an animal, when I’m ill I know that I’m covered.
     
  10. Adrian Wong

    Adrian Wong Da Boss Staff Member

    Wow.. Your VAT is really high. :shock:

    Malaysia will be implementing GST (Goods & Service Tax) soon. I think it will be around 3% initially.

    But our vehicles are heavily taxed. :(
     
  11. badawi_rocks

    badawi_rocks Newbie

    3% is practically negligible. A GST would conceivably replace the Sales Tax system. I'm not sure how a 3% tax could cover the cost of actually implementing a GST system, and educating the public about it - GST is one of the more complicated tax systems.

    Anyway, relax Adrian. Malaysia has an incredibly low tax rate, when compared to Australia or some Scandinavian countries!
     
  12. Adrian Wong

    Adrian Wong Da Boss Staff Member

    Nah, I'm not worried about the 3% yet. But it's just a start. You can be sure that they will increase it sooner or later.

    Eh, GST is meant to replace the current 5% service or sales tax. So, initially, for those implementing service or sales tax, there will actually be a reduction in tax. But for stuff that are not currently taxed, well, that's a new tax of 3%.

    If I have something expensive to buy, I would be sure to buy it before GST is implemented. After all, 3% can be significant if you are purchasing something expensive like a vehicle.. or a house.
     
  13. lklatmy

    lklatmy Newbie

    Errrr,I thought implementation of GST has been postponed:confused: :confused: :confused:
     
  14. Adrian Wong

    Adrian Wong Da Boss Staff Member

    Yup, it's been postponed. :D

    It was supposed to start in 2007. But it's just a matter of time before they implement it.
     
  15. peaz

    peaz ARP Webmaster Staff Member

    LOL, it's not just basic salary ok? it includes all your earnings, including claims, benefits, OT, even earnings from part time work.
     
  16. Adrian Wong

    Adrian Wong Da Boss Staff Member

    Hehe.. Yeah, EVERYTHING. :mrgreen:
     
  17. Dashken

    Dashken Administrator!

    I know... but I just don't think they should count. :lol:

    With my current OT, it's hard to find another job. The next job at least have to be more than my basic+OT+bridgetoll+fuel if I were to work at Penang Island. Now, that's tough. :wall:
     
  18. Chai

    Chai Administrator Staff Member

    Wow...OT so much and yet still complaining poor... :roll: Don't get me started again...
     
  19. Adrian Wong

    Adrian Wong Da Boss Staff Member

    Hehe.. Dashken's trying to tell everyone he's rich. :wicked:

    Eh, you looking for a new job already, Dashken??? :shock: :haha: :haha:

    Back to topic... your income tax isn't that bad. Your contribution to EPF is very much higher. :D
     
    Last edited: Mar 21, 2006
  20. Dashken

    Dashken Administrator!

    If a few hundred bucks of OT is much, I have nothing to say. :|

    I'm always looking... but this job is still the best at the moment. Hopefully I'll learn something when the new OS kicks in later this year. :thumb:
     

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