Similar to previous years, this is the time where we have to prepare and submit individual income tax return form to IRB. For 2010 individual income tax, the last date to submit the individual income tax return form is on the 30th April 2011.
Any delay is subjected to penalty as below;
Any tax due and payable but has not been paid by the taxpayer by the due date shall be increased by 10% and any balance remaining unpaid upon the expiration of 60 days from the due date shall be further increased by 5% of the balance unpaid.
Read more to find out more information on free tax software, tax exemption, deduction, rates, reliefs and rebates for individual for year 2010.
If you are not sure what are tax exemption, rates, reliefs and rebates, you can read here.
Credit card users are encourage to disipline themself when spending and make their monthly payment promptly. This is because credit card interest rates for outstanding balance is very high. The best practise is to make full payment on all outstanding balance every month.
Most banks in Malaysia offered tiered interest as per Bank Negara Malaysia (BNM) credit card interest rate structure which last revised in March 2009.
The tiered interest rate structure rewards those who pay their credit card bills promptly. Below are the details on tiered credit card interest rate structure.
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Maybank is having a new financing facility called AHB Financing-i. It provides financing for the purchase of Amanah Hartanah Bumiputera (AHB) unit trusts. It is an Islamic loan based on the Shariah principles of Bai’ ‘Inah (sale with immediate repurchase).
Below are the details on AHB Financing-i,
Eligibility
- Individuals age 18 years up to 59 years old
- Malaysian Residents
- Bumiputera
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Century Software Holdings Bhd (CSHB), a company specialized in financial management software solutions (FMSS), is schedule to be listed in Main Market on 31st January 2011. The company, was established on 8th August 2008.
CSHB’s IPO consists of a public issue of 23 million or new ordinary shares and an offer-for-sale of 10.9 million vendor shares at an IPO price of RM0.93 per share with RM0.10 par value.
Of the public issue of 23 million new shares, 8.55 million shares are for private placement to selected investors, 5.8 million shares for eligible directors, employees and business associates and 8.65 million shares for the public via balloting process.
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With effective from 31st December 2010, deposit insurance limit will be increased to RM250,000 from RM60,000 per depositor per bank. The new limit come into force after it was approved by Dewan Rakyat and Dewan Negara recently.
The new limit will protect 99% of retail depositors in full. In addition, the new bills will also includes foreign currency deposits under the deposit insurance protection.
The enhanced financial consumer protection package included the expansion of Perbadanan Insurans Deposit Malaysia (PIDM) mandate to include the administration of the Takaful and Insurance Benefits Protection System (TIPS).
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