17 May, 2012

PM’s Office

It was a busy week for me last week. Where i work we are planning a huge event for next year which is very important for the country and Malaysians at large in my view. With the planning of this event i had to go to many high profile places and meet some top top people to get them to support the event which i will highlight as we go by.

Just to give you a idea of who is required to endorse or rather support this event.

Yea its a bad picture but when your walking around a high security area its a little hard to take any pictures using a ancient camera on my museum material phone. A clearer image of another place which is in the headlines a lot

Yeap, the infamous 4th floor!! It was a pretty cool experience and the building is as nice on the inside as the outside! The view from inside the building is breath taking and it was day..Imagine the nights!

Nice eh! :)

Epf Myth Busted?

The recent epf rates has been making waves via emails. Im no tax expert but someone who knows more than me of the mechanics of how individual tax is concerned dropped me a comment on my previous posting saying that the emails being floating are half true.

So here is Mr Arrivu‘s explanation : [Read more...]

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EPF 8% Means Paying More Income Tax

A friend of mine sent me a email showing how if you are contributing 8% that would effectively mean you pay more tax! This may apply for those who’s earnings are above a certain amount. Have a look at the calculation below :

Assume monthly basic salary is RM4000

  • If your monthly EPF contribution is  11% ( RM440 ), taxable income = RM3560, income tax payable = RM77.
  • If your monthly EPF contribution is    8% ( RM320 ), taxable income = RM3680, income tax payable = RM109.

Conclusion :

If you choose to contribute 8%, you will end up paying more income tax to the government, which will make the government richer. Finance Minister Najib said this measure is meant to boost up the slow-down market, but from this example wee see that the money does not go into the market. Instead the money goes direct into the government through the greater amount of income tax that we will have to pay every month. Obviously this measure does not seems to help the market at all.

So you still lazy to fill up that form??

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