After having received money from your investments in say, shares and property, have you considered whether the receipts are taxable?
Dividend income
In general, people are under the impression that dividend income is not required to be reported in the tax return. This is only true provided the dividend income is tax exempt as in the case where the dividend that is received is either a single tier dividend or is paid out of the exempt profits of the dividend-paying company.
Previously we looked at world’s largest sovereign funds where Malaysian largest sovereign funds, Khazanah Nasional Berhad at position 22. Today, we going to look at world’s largest pension funds. Malaysia currently have two pension funds namely Employees Provident Funds (EPF) and Kumpulan Wang Persaraan (KWAP).
As of early 2009, EPF is at number 18 among the world’s largest pension funds with $98.8 billion in assets while KWAP is at number 160 with $16 billion in assets. EPF was at position 23 with $94.4 billion in assets previous year.
The table below shows top 25 world’s largest pension funds. It cover both sovereign and private pension funds.
On 22nd March 2010, Amanah Saham Nasional Bhd (ASNB) announced an income distribution of 6.30 sen per unit for Amanah Saham Malaysia (ASM) for the financial year ended March 31, 2010. Last year, the income distribution is 6.25 sen per unit, which was the lowest since its introduction in 2000. The highest dividend given was 7.8 sen in 2001.
The income distribution involved a total payout of RM654.06 million, an increase of 60.5 per cent from RM407.58 million paid in 2009. The payment will benefit 552,000 unitholders who had subscribed to 11.2 billion ASM units as at March 19, 2010.
Citibank is having a great new feature for their Platinum Credit Card. They are offering 5X Rewards Points on purchase made at major department stores and supermarkets or hypermarkets.
On top of that, they are giving 10,000 Bonus Rewards Points for new applicants that get their application for Platinum Credit Card approved. The bonus point is only applicable for non-existing Citibank Platinum Card holder. This offer will run from 19th March 2010 to the 31st of July 2010.
RHB Investment Bank (RHB) is the first investment bank in Malaysia to be certified by Bursa Malaysia to offer Direct Market Access Equity (DMA Equity) services to clients. RHB utilize the system that was provided by US-based software maker, SunGuard.
Direct Market Access (DMA) infrastructure for the equity market was put up by the Bursa Malaysia last year. With the DMA platform, clients would be able to react quickly to information flows and to self-manage limit orders in the market. The system will allows large transaction to be executed cheaper and faster.