Tax questions? You ask lah! #44

Published: Wed, 10/13/21

Tax questions? You ask lah!

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

Do I need to prepare Form CP58 for a one-time commission?

A:
It depends on the amount of commission. If the payee receives more than RM5,000 in a calendar year from the company, then the company must prepare Form CP58 for that payee.

Should I prepare Form CP58 to employees who receive commission?

No, if the person receiving the commission is your employee, the company should fill in the commission amount in the employee's EA form instead of Form CP58.

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. Do you want more tax saving tips? Because this is just the tip of the iceberg. View my course here: bit.ly/youaskzenlah

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