Q:
My company has received financial assistance of RM 600 per month from Wage Subsidy Programme (WSP) in May 2020, is this amount taxable? I have paid the amount to my staff as part of his salary within 7 days, can my company claim tax deduction for this amount paid?
A:
All grants and subsidies given by the government are tax exempted. However, the grants or subsidies that are being used to pay out salary are likewise not deductible.
Q:
A Malaysian who is working overseas without a tax file number has sold his real property in Malaysia. Does this person need to register a tax file number? After registering a tax file number (if needed), does this person need to file an income tax return form annually even though this person is working overseas?
A:
Anyone who sells real property in Malaysia needs to file a Real Property Gains Tax (RPGT) return and thus needs to register a tax file number. However, if this person does not earn any income in Malaysia and has never filed any income tax return form before, he does not need to submit the income tax return form annually.
Wishing you plentiful tax savings!
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. If you're liking these little tips, you can't imagine how much you'll get out of my course! View the course here: bit.ly/youaskzenlah