myLIFEinvest

Assalamualaikum w.b.t. and Salam Sejahtera, Now is Mid of December, we have only around 2 weeks to make assessment for tax and zakat for year 2013. What should we assess and maximize our tax deduction? 1) SSPN 2) PRS 3) Books 4) Medical??? 5) Donation 6) xxx and ##) And finally maximize your zakat for tax rebate. Lets assess our tax now...

View your self the highlights copied from http://www.themalaysianinsider.com/malaysia/article/budget-2014-highlights-bernama Following are highlights from Budget 2014: CIVIL SERVICE * Pensioners will receive a special financial assistance of RM250 to assist them in meeting the rising cost of living. * Government to give a half-month bonus for 2013 with a minimum payment of RM500 to be paid in early January 2014. CASH HANDOUTS (BR1M) * Cash handouts to households with a monthly income of below RM3,000 will be increased to RM650 from RM500. * For individuals aged 21 and above and with a monthly income not exceeding RM2,000, cash handouts will be increased to RM300 from RM250. * For the first time, cash assistance of RM450 will be extended to households with a monthly income of between RM3,000-RM4,000. * To implement all cash schemes, government will allocate RM4.6 billion which is expected to benefit 7.9 million recipients. REAL PROPERTY GAINS...

Emmm!!!  I didn't see any fair tax here. What happen if in a family only husband working and the monthly income is at RM8500? Comparing to both wife and husband working? What I see, Islamic Zakat is the fairest. 2.5%.  So who will benefit? TAX RELIEF * Government proposes a special tax relief of RM2,000 be given to taxpayers with a monthly income up to RM8,000 received in 2013. CORPORATE TAX * Corporate income tax rate be reduced by 1 percentage from 25% to 24%. * Income tax rate for small and medium companies will be reduced by 1 percentage point from 20% to 19% from the year of assessment 2016. INCOME TAX * Government to give one-off cash assistance of RM300 to low income group * Personal income tax rates be reduced by 1 to 3 percentage points for all tax payers. * Individual income tax structure will be reviewed * Chargeable income subject to the maximum rate will be increased from exceeding RM100,000 to exceeding RM400,000. * ...

Aaahhhaaaaa! GST sooner or later will introduce and fortunately it is said in 2015 after a massive so called subsidy redrawal being implemented....  Just wait and see, this is award from elected ruler in PRU13. How will GST impact us? Do what as spell out in below article or catastrophic impact will rise??? I don't know. Do you know??? So lets celebrate... --------------- From The Star.. Published: Monday October 21, 2013 MYT 12:00:00 AM Updated: Monday October 21, 2013 MYT 9:22:58 AM Real impact of GST on cost of living by raja kumaran AND tim simpson WHEN most people hear of a possible introduction of the goods and services tax (GST) at say 6%, they assume that their cost of living will increase by 6%. This is an understandable assumption, but how true is it? GST is a bro...

Quite sometimes  not visiting my own blog. After hospitalize and on medication for 2 weeks and later took 1 week leave to get mind rest now looking what will the next dooms to arise. Malaysia budget past years never benefit middle class worker especially private sectors. Read the below article, tax is the most burden middle class worker since we usually will stuck at the higher tax band due to unbalance tax scheme between public and private sectors. Public sector gain the most in the past years budget with many benefit given to them but vice versa for private sectors.  Now we need to sacrifice again to pay government debt that was utilized by corrupted to fund their crony debt. Middle class worker now suffering of higher interest rate to purchase house. The price of the house also now very expensive and middle class group also can't even purchase them. Where is justice? Paying higher tax to pay government debt and income become scarce for own consumption. The 2014 budge...

Just wondering, who says the truth? I cut a piece from the below to understand the issue. Others read by your self in the below article. Questionable quote: 1) Only 1.7 million worker paying tax over 12.8 million ( 13%)??? So another 87% will get BR1M?? 2) Last year petrol only getting 5cent subsidy, why after 20cent price hike, gomen said we was given 65cent of subsidy???? Soooo funny!!!! “This year we had initially targeted revenue collection to total RM107 billion but our first half collection has already reached the RM99 billion mark. But the income tax payers form a small portion,” he said. Of the 12.8 million in the workforce, only 1.7 million pay tax while in the case of the 700,000 firms, only five per cent, or 35,000, pay taxes.Lim said the middle income bracket’s usual grouse is that the government tends to overlook their interest in the annual fiscal budget. “Remember for every litre of petrol utilised, the government is giving a five-sen subsidy whil...

Assalamualaikum w.b.t, Sebelum membuat keputusan menyimpan atau melabur melalui Tabung Haji seharusnya kita memahami terlebih dahulu kaedah kiraan dividen / bonusnya. Tabung Haji juga tidak terlepas dari gengaman tangan-tangan ghaib yang memeras dan menyedut lahap hasilnya seperti mana tabung-tabung ASNB dan KWSP namun ianya adalah instrumen yang boleh diteliti terutamanya bagi umat Islam yang bercita-cita untuk menunaikan fardhu Haji. Bagaimanakah pengiraannya? Berikut adalah kaedah pengiraannya dari laman web TH contoh untuk 2012: Secara umumnya bonus tahunan dikira sama seperti dividen ASB, iaitu berdasarkan baki minimum bulanan tahun penilaian. Bonus khas bergantung kepada ehsan THG, dimana berasaskan minima bulanan untuk tempoh tahun (jumlah bulanan) tertakhluk kepada hebahan THG. Jadual di bawah menunjukkan prestasi THG untuk tempoh 10 tahun yang lalu. Apakah lebih baik? Sukar untuk diramalkan kerana prestasi selalunya diistihar baik apabila hampir den...

Ref:  Employees Provident Fund Starting from January 2014,  Employees Provident Fund (EPF) will revise upwards the basic savings level of its members. The aim is to ensure  its members have enough savings to finance their retirement needs. The new quantum is RM198,000 by the age of 55 compare to RM120,000 at the current level. It will be equivalent to RM820 a month for 20 years from age 55 to 75. The new rates are benchmarked against the minimum pension for public sector employees which are currently at RM820 a month. This will avoid the monthly retirement income not fall below the poverty level. The impact to this new revision is, members will need to have more funds in their account to be eligible to withdraw for the purpose of EPF Members Investment Scheme. The table below is the current & new Basic Savings Level for EPF members. EPF only guarantee annual returns of 2.5%. Basic Saving (RM) Age Curre...

Assalamualaikum w.b.t., Well done! Well done! One of our present already here. The best still not coming yet. The wave of chain reaction will make all of very-very happy. 1st wave you will get sooner, with goods price hiking up. No worry and no hurry guys. Just wait. Don't forget, the price increase what was told to make sure bonus can be paid to Government Servant and Continuity of BR1M. 2nd wave of goods price will some more increase after bonus. And might be we will get 3rd wave with electricity tariff hike. So be happy and let celebrate after getting our PRU13 the best present ever....

What do you feel when ringgit value drop over USD? What will the situation effect you? Don't have idea? Then lets wait, will petrol or flour can be maintained at the current price? List your self do your basic requirement things/goods will sustained at the price? If not treat like share trading. Purchase at low price. If you borrow money from foreigner, what currency will you use for the exchange? Yes, bingo USD. So our country James Bond in USD. So we are losing in our exchange. Bloomberg: Ringgit Heads for Fourth Monthly Drop on Current-Account Concern By Liau Y-Sing - Aug 30, 2013 10:30 AM : GMT+0800               Malaysia ’s ringgit headed for its fourth monthly drop as the nation’s deteriorating current-account position spurred concern among investors preparing for the Federal Reserve to taper stimulus. Government bonds rose. The currency touched a three...

Lets celebrate.. At least 1% per year electricity tariff will rise due to sustainability energy subsidy. And how much will tariff rise when gas subsidy to IPP is taken back? Don't surprise, it will be the best ever present for us from our beloved elected government. Refer to the link below. Now, budget 2014 in drafting??? Are you sure??? Or its already ready... However, those who work with private sector, you should ask for your right in budget 2014. You will be the most affected with 2014 budget. You should think and request in 2014 budget: 1) A balance tax scheme and you should get what government worker have. Government worker their taxable income is around half from their total income. Why shouldn't you get the same? 2) Loan, as example to make a personal loan you have to pay higher interest rate around 7.95-9.5% but your counterpart in government just only 3.5-4.00%. The unreasonable higher interest rate also goes to mortgage and hire purchase. 3) Should ...

The pending adjustment will realize soon. So your choice before PRU, now yours. ------ The star: Published: Wednesday April 24, 2013 MYT 12:00:00 AM Updated: Friday April 26, 2013 MYT 12:39:24 AM New tariff for water being planned By WONG WEI-SHEN KUALA LUMPUR: The National Water Services Commission (SPAN) is in the process of drawing up a new water tariff. Its chief executive officer Datuk Teo Yen Hua said that the commission would take about six months to a year to put the new tariff in place. “The new water tariff would be more transparent and structured, and will be tied up with the key performance indicators put in place by SPAN. “We need to have a very structured tariff mechanism so that we know what the costs are, and if those costs are efficient. Looking at the long term, we know there is a need for us to ensure that we put in enough investment to replace all the old pipes, which is a problem that all states are facing,” Teo said at a press briefin...

No one can say anything anymore. We vote then lets ride boat. This is what we call the power of power. From people to people. The Star: Business Published: Friday July 19, 2013 MYT 12:00:00 AM Updated: Friday July 19, 2013 MYT 8:27:49 AM Power tariff review up to Govt By DANIEL KHOO danielkhoo@thestar.com.my Azman (left), Moggie and CFO Fazlur Rahman (right) at the announcement of TNB’s third quarter financial results. KUALA LUMPUR: The review in electricity tariffs “is likely to happen” sooner or later as it is difficult to sustain subsidies at present levels, according to Tenaga Nasional Bhd (TNB) chairman Tan Sri Leo Moggie said. However, he said any decision for a reviewwould be decided by the Government and not TNB. “Yes, there is a prospect of a review on the tariffs because the reduction of subsidies over a period of time is likely to happen,” Moggie said. “This is why it is important from the point of view of the producer and...

Reported inflation rate 2% with many good not include in CPI. Do actual inflation rate is as reported in below article,  6% is the correct one??? You know the best. If you always go to Pasar (market), then you can realize how the prize of wet groceries increase day by day and the quality also poor.   ---- From: The STAR Published: Saturday August 17, 2013 MYT 12:00:00 AM Updated: Saturday August 17, 2013 MYT 12:44:48 PM To invest or not to Invest? MONEY & YOU YAP MING HUI Warren Buffett's No. 1 rule in investing is 'Never lose your money.' - AFP Email Facebook 8 YOU want to grow your money, but are worried that you may lose what you have worked so hard to earn? If so, you have lots of company in this Catch-22 situation. Most of us realise that if we don’t invest our money, it will continue to lose its value and we will ultimately fail to m...