Tax questions? You ask lah! #11

Published: Wed, 02/24/21

Tax questions? You ask lah!

Your weekly dose of tax knowledge - become tax savvy in just 2 minutes!

Is the cash won from winning the lottery taxable?

No, it is not taxable as this is a capital receipt.

For the education fees relief of RM7,000, does it include online courses such as shares and options trading, online marketing, property investments, etc?

Only fees expended for any of the following courses of study undertaken in any institution or professional body in Malaysia recognized by the Malaysian Government or approved by the Minister of Finance are eligible for relief:-

(i) Other than a degree at Masters or Doctorate level
Any course of study up to tertiary level undertaken for the purpose of acquiring law, accounting, Islamic finance approved by Bank Negara Malaysia or Securities Commission, technical, vocational, industrial, scientific or technological skills or qualifications; or

(ii) Degree at Masters or Doctorate level
Any course of study undertaken for the purpose of acquiring any skill or qualification.

Zen Chow

YYC Tax Guru

P.S. I've received a lot of tax questions, so now I am answering the frequently asked questions and sharing them with you weekly!

P.P.S. One more thing. I have a tax savings course that you won't want to miss out. Because it can help you save hundreds of thousands of taxes! View my course here: bit.ly/youaskzenlah

Disclaimer: The email is intended for informational purposes only. YYC has taken all reasonable care in the preparation and compilation of the information contained in this email, the information contained in the email is believed to be reliable but YYC or their associates make no representations as to accuracy, completeness, suitability, or validity of any information and will not be liable for any errors, omissions, or delays in this information.