Goods and services tax (GST) is a tax on the final consumption of goods and services. It is also known as value added tax. GST is a multi-stage tax, which imply that the Government will collects taxes at various stages along the delivery process.
GST is ultimately passed to the consumer even though the intermediaries such as manufacturers, wholesalers and retailers paid the taxes during the production and distribution process. Therefore, GST is not a cost to the intermediaries and it will not reflected in their financial statements as an expenditure.
Below are the most commonly use terms in GST.
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If you are like the average taxpayer, chances are you are often confused by the terms “deduction”, “allowance”, “relief”, or “exemption”.
These words are not given separate meanings in the tax legislation but they all operate to reduce your tax bill. It is helpful to distinguish them and to know the meanings usually attributed to them.
Deduction
A deduction is an expense or “outgoing” of the taxpayer which he is entitled to take into account in arriving at any particular figure of income.
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It is a very bad day for me today. Google has decided to remove my blog at http://1-million-dollar.blogspot.com. And the worst thing is that I do not have any backup on my post from previous blog. Luckily, some of my posts were cache by Google. I also make an appeal to restore my blog but I do not know how long they going to take.
After a careful consideration & the satisfaction that I gain from blogging, I have decided to go away with Blogger and buy my own domain at https://1-million-dollar-blog.com. I am using WordPress now.
I try to restore most of my post from Google Cache but due to time constraint and not very familiar with WordPress, it may takes sometimes to build this site back.
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Following the Securities Commision (SC) success to bring back RM31 million from the Swisscash Investment scam last November, SC has appointed PricewaterhouseCoopers Advisory Services Sdn Bhd as the administrator to manage the restoration process for eligible investors.
Within this week, PricewaterhouseCoopers Advisory Services will be issuing notices calling for claims from claimants and the detailed format and supporting documents required.
The notices will appear on the PricewaterhouseCoopers Advisory Services website and major newspapers, namely Berita Harian, Malaysia Nanban, News Straits Times, The Borneo Post, The Star, Sin Chew Daily and Utusan Malaysia.
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Mortgage Life Insurance is an insurance that loan owner purchase when buying a property. It is designed to settle the outstanding loan balance in the event that the borrower dies or suffers from total and permanent disability (TPD) prior of settling the loan.
Basically there are two types of mortgage life insurance that are available in the market. There are Mortgage Reducing Term Assurance (MRTA) or Mortgage Decreasing Term Assurance (MDTA) and Mortgage Level Term Assurance (MLTA).
The table below shows the different between MRTA/MDTA and MLTA
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