It’s nearly that time of the year to file your income tax! Literally every working adults will be rushing to the office and the website will be flooded by visitors which is inevitable, but nonetheless, it is important that you know what you’ll need to file for your income tax. Here’s a simple guide on how to file for your income tax.
If it’s your very first time filing for your income tax, firstly you’ll need to register as a taxpayer with Lembaga Hasil Dalam Negeri Malaysia (LHDN) for your tax reference number.
You can either register online or physically visit to the nearest LHDN branch. After obtaining your tax reference number, you can then proceed to file for your income tax online at ezHasil e Filing, or alternatively you can also go tot he nearest LHDN branch. Do keep in mind that you’ll need a PIN obtainable from a LHDN branch, or through mail, fax, or e-mail if you choose to file for your income tax online.
What You Need
First off, you’ll need a number of documents, take a look at the checklist below and check off the list:
- Tax reference number
- A copy of your latest salary statement (EA or EC form) or your salary slip
- A copy of marriage certificate (if applicable)
- Receipts in order to get tax deductions exemptions
Moving on, you’ll need to be sure to fill up the correct form each time when you’re filing for your income tax. Depending on your source of income and your residential status, the form you’ll need to provide will be different.
- FORM BE: an employee of an organization
- FORM B: self-employed individuals
- FORM BT: self-employed individuals (knowledge workers)
- FORM M: non-residents
- FORM M: non-residents (knowledge workers)
For the latest information regarding tax reliefs from the Malaysian Budget 2017, you can learn more at iMoney.my Learning Centre.
A crucial point to take note on, is to make sure you keep all of your receipts for instance, books purchases, insurance premium, and medical payments together with supporting documents for at least 7 years. And since there’re tons of way available online to save a copy of your documents, it is advisable that you keep a copy or take pictures of the receipts and documents on your mobile devices or computer as paper products, generally fades over time. If you’re still insisting on keeping a physical copy, well, you’ll have to keep and preserve them with firstly, a good filing product, and secondly, in a temperature controlled room. Alternatively, you can also check out more filing products and other related products below!
So mark your calendars, and file your income taxes as early as possible or you’ll be charged 10% from the tax payable.