LHDN Will Not Offer Extension for Income Tax Filing

The Inland Revenue Board (LHDN) has announced that no extensions will be granted and has reminded all taxpayers to file their tax returns by the deadline. However, it stated that those who file their BE and B forms through the efiling system would be given an additional 15 days.

As of now, LHDN said there is no plan to extend the deadline as the situation has returned to normal. The deadline for submitting the BE form is April 30, while the B form submission deadline is June 30.

LHDN stated that it wants to encourage taxpayers to switch from manual to online filing. Hence, it offers individuals who are using e-filing ample time. Those who submit the BE form via e-filing can do so until May 15, and those submitting the B form has until July 15.

Check your e-filing status on MyTax

Submissions for the 2021 Income Tax Returns for E, BE, B, M, BT, MT, P, TF, and TP Forms commenced on March 1. 

You can check the return forms status, eLedger, refund process and Monthly Tax Deductions through MyTax.

LHDN also reminded taxpayers to organise and keep all documents such as receipts, salary slips, invoices, and other relevant documents for at least seven years, as required by the Income Tax Act 1967's Sections 82 and 82A.

This action is necessary to ease the process of e-filing and compliance checks by LHDN in the future.

Tax reliefs

Individual taxpayers are entitled to an RM9,000 tax deduction, RM6,000 for individuals with disabilities, and RM5,000 for a disabled husband or wife. Those who pay alimony to their ex-wives qualify for an RM4,000 tax break.

An additional RM1,000 in relief is dedicated for vaccination costs.

An RM500 deduction for any purchase of sports equipment, rental or admission fees to any sports facilities, and registration fees for any sports contests is also provided for YA2021.

Those earning RM37,333 per year or RM3,111 per month are subject to tax for the year 2021. 

Married couples can choose to file a separate assessment or a joint assessment.

Those who file their assessment separately are taxed if they have a child and earn RM39,333 per year/RM3,278 per month, or if they have two children and earn RM41,333 per year/RM3,444 per month.

Couples with no children who choose joint assessments will be taxed if they earn RM48,000 per year/RM4,000 per month, RM50,000 per year/RM4,167 per month if they have only one child, and RM52,000 per year/RM4,333 per month and have two children.

More information is available to the public through the Hasil e-Book at a Glance 2022, which you can download through https://mytax.hasil.gov.my.

Source: The Star