Thursday, April 10, 2008

Tax season

You know it's tax filing season when you see and hear the reminders everywhere to file them on time (at the end of the April). The Inland Revenue Board (IRB) has been plugging the online filing (E-Filing) system for the last few years; and while my parents are not likely to ever use it in their lifetime, it comes in useful for the Generation X and Y-ers who are already handy with the Internet.

That, and when Mum starts demanding that her children hand over her their receipts for tax deductible items like books, magazines, and personal computer (in my case), on top of her own. No, I don't dare to think or put a number on how much I've spent on books and magazines over the last year (but it is quite a bit); however, I didn't pay full retail prices for most the books I've bought.

As a clueless working young Malaysian adult, I don't know how the whole income tax thing works. I don't even know how is it in Malaysia: whether it's the "everyone has to file" or there's a lower limit of gross (or net?) income as there's no Tax Filing for Dummies or anything of that sort.

As I didn't want to be accused of tax evasion, I've looked everywhere online for some indication, but nothing conclusive. After asking around, I should be glad that with my income level, I don't have to worry about filing.

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