WAYS TO REDUCE TAX

I know its quite late as the income tax declaration final day has ended. however, below are some tax-saving moves which might be usefull...its too late to be utilised this year but surely can be a great guide for next year.

1) Save for your Child’s Education

Any amount deposited under national Education Savings Scheme (Skim Simpanan Pendidikan Nasional) allows to claim tax deductions. There is a limit of RM3000 for this deduction but spouse who file separate tax returns can each claim this amount .

2 ) File Separate tax returns

A separate assessment allow each spouse to claim personal tax relief of RM8000 each

3) Ask your employer to increase EPF contributions

Ask employer to increase your EPF deductions (to 11% instead of 8%) so that the amount debited for tax will be lesser.

4) Change your cash remuneration to cash reimbursement

Fixed allowances given by employer each month for entertainment and housing or parking fees are taxable. Change this to “reimbursement“ based on receipt which is not liable for tax.

5) Make charitable contributions

A gift of money to an approved charitable organisation entitles for a tax deduction for the amount given.

6) Take Up postgraduate studies

A relief of RM5000 per year for any course of study at the Master’s or doctorate level. The course does not have to be done full time, but must be in an institution or professional body in Malaysia recognised by the government or approved by Minister of Finance.

7) Read, Read, Read

Tax payers can claim a personal tax deduction to RM1000 for purchase of books, journals, magazines and other publications.

8) Get Sporty

There is deduction of RM 300 for each year for the purchase of sports and exercise equipments for any sports activities defined under the Sports Development Act 1997.

9) Buy Life Insurance

The maximum tax relief is RM6000 a year for premiums paid to an insurance company for life insurance or deferred annuity plans.

10) Take up a Medical or Education policy

You can claim deductions of up to RM3000 a year for education and medical insurance (combined limit for both). A policy of this kind can be written for you, your spouse or your child.

11) Medical Claim

A deduction of up to RM 500 per tax year for a full medical examination and RM5000 for medical expenses for yourself, spouse or child with serious disease.

12) Pay Zakat

If you are a muslim, paying any amount in zakat, fitrah or other obligation Islamic dues will entitle you to a tax rebate.

13) Buy a Computer

A deduction of up to RM3000 can be claimed once every three years for the purchase of computers, printers and bundled software .

14) Buy property valued below or at RM250 000

Stamp duty must be paid on all property transactions that involve a change of legal ownership. Budget (2008) announced a 50% stamp duty exemption for the purchase of houses that do not exceedRM250000

Hope this information is useful...

I MISS YOU

Its been almost a year that you're gone.7 months full of pain yet you did not give up.You fought as much as you can yet, god had some other plans for you.October 2008, that was the toughest month for you. You were diagnosed with rectal cancer.You didn't give up.You were ready to fight and had confidence that you would be fine again.First was the chemo.You were hunched after the chemo.I barely remember seeing you walking straight, with your chest wide opened.I thought I would but I never did.Never once I cared to sit beside you and talk about what you were going through.I dont know what I was thinking.I knew you had cancer but in my mind it was "oh, its just cancer, you'll get over it".Not even a second, I though that it'll take your life and leave me eternally.I saw how you suffered, mouth full of blisters and couldn't eat or sleep, vomiting everything that you ate with so much struggle...now I realize.I should have been there, talk to you, console you.I missed the chance to show you that I do care but was not good in showing it.Pointless to regret yet I do.Only now, I'm trying to imagine how you would have felt, how painful it must have been.All I wished for was for that phase to past fast but never for you to leave me fast.I still remember, there was once, I was eating and you vomited and you said to me "I'm sorry, i know that's disgusting"...only god know how I felt when you uttered those words.I did not feel disgusted at all.I felt so sorry for you.Only after that moment, I realized, how bad you felt about yourself.You felt that you were burdening us, didn't you?I swear you did not.You were too good.24 years you supported me but when I started working and it was time for me to take care of you, you left. When we thought everything was going to be fine after the surgery, there the doc goes again, asking you to do the chemo again.I was tired with it but you were not.You were so eager to complete the treatment so that you'll be free again.You were not aware that it wasn't the end of the treatment but the end of your life.After the surgery and chemo, you became extremely weak.You could barely speak.I forced you to go to hospital because I couldn't stand seeing you suffer so much.You were hesitant.I didn't know why but now i know ; you were scared.You knew that you were not coming back, didn't you?I remember, on 15/05/2009, I sent you to hospital.That was the day you stepped out of the house for the last time.It was my fault, I forced you.I dont know what exactly happened.Was it the effect from chemo?Did something else go wrong?Too many questions, left unanswered.You were still walking and breathing like normal.17/05/2009..i came to visit you.You had your last meal.Then, you had breathing difficulties and they put you on life support machine.The last word I spoke to you, "they are going to put on the machine", I saw the fear on your face.You were unconscious till 19/05/2010 when they pronounce that you were dead due to multiorgan failure, pneumonia and rectal cancer.That's soo much of pain. ill now, I cant believe or accept what has happened.I don't know what to do coz i miss your presence here.I hope you are fine.I hope you are in peace.

I'M STILL ALIVE

Gosh....its been almost 19 months since the last I scribbled something here.Luckily I still remember my password!Life kept me extremely busy.Now, I'm back to writing and hope this time I stay for good.So many things happened since the last I was here.Don't know why, i just stopped writing..I started working on 06/10/2008.Joined OCBC Bank as a Customer Service Exec.It was nothing like the bad experience I had with Citibank.Things were great and I left the company after 16months as I received better offer.Maybe one of the reason that stopped writing was because of the limited access to internet.I was not online frequently.I was renting an apartment with some friends whereby I did not have internet access at home and, at work the access was restricted.Currently I'm with Shell.Its been about 2 months now.I'm no longer in CS, Procurement is my life now.Well, I think my career life had been great (touch wood) with a smooth growth all the while.Personal life?@$%#*%$@$! - means, I have no comments!First its fine, then bad, then worse, then fine again and the whole thing just repeats!Family?It was quite tragic.I lost my dad last year.He died of cancer.Things happened so fast that I barely recall what happened. By the time I realized what was going on, he was gone.Its gonna be a year now.19 months is a very long time and too many things happened.These are some of it but there are plenty that I'm leaving unsaid, for now.

NO to CHINESE DAIRY

Countries across the world have been traumatized about the deaths caused by China made dairy products. To date, 4 infants have died and 13 000 children have been hospitalized. The problem started when an investigation confirmed that the contaminated Sanlu baby milk powder as the cause of kidney stones in infants. According to China Daily, Sanlu Group found that its powdered milk products were contaminated with melamine during an internal company QC in August. However, the report wasn't released till it caused such a disaster. Melamine is a chemical substance which is usually used in production of plastic, glues and fabrics. It is used in food products to increase the protein content but, the use is unethical. Other than milk powder, liquid milk, yogurt and ice-cream which contains dairy substances are also said to be contaminated. Most Asian countries such as Singapore, Malaysia, Brunei, Bangladesh and a few African countries have banned the import of milk and dairy products from China. The main products which have been banned by Singapore and Malaysia are Dutch Lady strawberry milk and Yili Choice Dairy Fruit Bar, White Rabbit Creamy Candy, However, China officials have confirmed that the tainted dairy products are not exported but are only used in the mainland of China and certain parts of Taiwan. Quite a number of actions have been taken in order to overcome the issue this includes the sack of Sanlu GM and mayor of Shijiazhuang and the resignation of the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ). No matter what actions are taken, this incident will definitely create a fear on consuming China made products. This will also affect the country's economical growth.

MONDAY BLUES

Yea its Monday again and there's no way to escape! Its a long way to Saturday, the happy weekend. Why do people hate Monday so much? Coz, human hate to work and Monday seems to be the day which reminds us of loads of work which are to be done throughout week. This is the day we find our our body is magnetically attached to the bed and our feet feeling so heavy to step out of the bedroom. This is humans nature and if you don't feel this way, then you're not normal. I don't wish to bore my readers by giving tips on how to overcome Mondays like the rest of the blogs, but if you do need them then click here. Here is a great video clip by Pablo Francisco to cheer you up, boost your energy and get back to your routines. Enjoy the clip and have a great day!

MALAYSIAN TAXI DRIVERS

My broadband connection is automatically enabled whenever I switch on the PC. The first thing that appears once the connection is established is my MSN messenger login page and windows live page. Usually it contains the daily highlights and some ads. The title that pulled my attention today was 'Malaysia's 'worst in the world' taxis tarnish national image'. After reading the news, it automatically reminded me about the bad experiences I had with some taxi drivers while I was still using public transport (thank god I don't have to use it anymore) a few years ago.

This used to happen during my college days. Since I was staying in a rented apartment which is located out of the campus, I became a frequent taxi passenger. The college is about 12 minutes walk from my apartment. However, due to severe laziness, I used to take a taxi. This usually happens during the 8 am classes. I wake up at 7.30 am, make a lot of noise to my homies whom are in the shower (getting ready for their 9 am classes) and rush myself. By the time I leave home it'll be 8 am. When I cross the road, it'll be 8.05 am. So, obviously I have no time to walk to class hence, taxis will be the best choice. None of the taxis used meter. Their standard charge for students to college is RM3-single passenger and RM1 for every subsequent passengers. The actual cost of the ride would only cost RM2.50.

The next frequent destination by the students would be the KTM Commuter Station (Batu Tiga). The rate charged is RM6. I think if it was according to the meter, it'll only cost around RM4. I had to experience this every weekend, during my way back to mum's house. So, every weekend, I used to spend RM12 (return) just for the taxi!Being a student, RM12 definitely is a big amount. There was once, it was raining so heavily that I was lazy to travel by train. So I asked the taxi driver how much will it cost to KL Sentral. He said RM35. By right, I think it should only cost around RM20+. I cancelled my plan and continued the journey via train.

Being a taxi passenger in Shah Alam for almost a year, I never met a single taxi driver who charged according to the meter. But at times I sympathize them and can't really put the blame on them. They drive a manual car the entire day and have to wait in a long queue for their gas supply. I don't feel they are being mean, its just that they are being selfish like any other businessman.

MY WORST INTERVIEW EXPERIENCE

About 16 years of schooling period is over and now its time for job hunting. This is such a boring stage in life and it had been extremely difficult for a choosy person like me. Since I realise Biomedicine was a bad choice, now I'm trying to change my entire field. Well, I don't think my degree is waste as I'm still being offered jobs and salary equivalent to a degree holder. So, I started to look for jobs which requires degree in any disciple. I had so many options as my career pathway but my first preference was customer service (CS). I find this as one of the most demanding and fast growing industry so, I started applying for all the available vacancies in CS. I got called for interviews...only god knows how many times (too many till I can't remember). From what I can remember, I seceded in all of the interviews which I attended for CS (its not hard to get a job in CS), except for one.

This is my experience during that interview. I received a phone call from the recruitment agent (Adecco Jln Ampang) at around 9 am on that morning. She told me that there's a vacancy in a bank (refused to specify the bank) and asked if I am interested. I said yes and she asked me to be there at 10.30 am, if I wanted the job. I asked her if we make it later on that day or another day? She replied me in a raised and arrogant voice "you are looking for a job right?" I agreed to go even though she made me feel as if I'm a useless unemployed graduate who had been desperately looking for job even though at that moment I already have few job offers in hand! The first interview session was with Ei Leen (I don't know if I got her name spelled correctly) who is the rude agent who called me earlier. Don't be fooled by the name, its not a Chinese, its an Indian lady! The interview was very brief and went on fine. Finally she revealed the name of the bank (Citibank) and asked me to go there for the next round of interview. Upon arrival, I called the HR manager via the intercom but there was no answer. I waited for nearly 20 minutes (keep trying to call every 2-3 mins) before a lady (not the HR manager) answered. Then, she came out, brought me in explained to fill up the particulars form and also to do the test. She was talking at the speed of ....I think 150 words/min. Maybe she though I'm stupid and wont be able to understand anything told at that pace. It took me around an hour to complete and submit the whole thing. Then, I was left unattended for an hour. I was sitting and looking at all the tables, chairs, doors and posters on the wall. Then, I approached the lady and asked her, how long do I have to wait? She said, the HR manager is busy so u follow me. She brought me to one of the staffs, passed me the headphone and asked me to listen to the conversation with the customers and she left. I was cursing in my heart saying that I'm here for an interview not a training!!! I was doing this for almost 40 minutes. It was 2.30 pm, my tummy was rumbling as I didn't even drink a drop since morning because the agent rushed me to be there. I couldn't stand it anymore so I went to that lady again and asked her how long more its gonna take? She was uncertain. I told her that I had a very important appointment and I cant wait any longer. She rescheduled the interview the following week.

So, as per the appointment, I went for the interview after a few days. I called the HR manager via intercom and thank god, I was attended within minutes. The interview went on smoothly and the HR manager praised me saying that I can speak fluently and that I have great communication skills. Then, I was asked to undergo the second interview with the CS manager, Mr Baskar (Indian again!). I waited around 20 minutes and a man approached. He introduced himself and started the interview session. The questions he asked were very common and simple. I answered him confidently and everything was fine.

After around 2 weeks, Ei Leen called me and asked if I am still looking for job. She did not mention anything regarding the feedback from Citibank till I asked her. She said I failed the interview. I wasn't shocked instead I laughed. I said "what, failed the interview...huh"?Then, she offered me a temporary 2 months admin job. I said its ok, I'm not interested. She said "You're unemployed right? So why don't you just accept this offer?"I told her that I'm not interested and hung up. Damn!! I'm unemployed but its not that I haven't received any job offers! I have received plenty of it and I declined those offers cause I feel that they are not good enough for me. But this lady expect me to accept temporary admin job? When I told my mum I failed the interview with Citibank, she said "that Indian guy must be scared that you'll take his place if he hires you". Even my sis said the same thing. I don't understand what is the problem with Indians. They can never see or accept another Indian doing better than them or even respect each other. I mean, it was such a simple interview session and the position applied for is a CS exec which is impossible for me to fail! All you need is good communication skills in which I over qualify and above this, I have a second class upper degree and few months experience in CS! Yet I failed? PLL-EEAAS-EE!!! I went for so many other interviews, mostly conducted by Chinese and I suceeded. The reason? Chinese seek for real talent and ability unlike Indians, who can never accept another Indian's victory. I bet, if the CS manager in Citibank was a Chinese, I would have passed that interview!