5 Things you should do about your finances before 2014

The New Year is all about heralding the new and shaking off the old. It’s when you make resolutions, clean house and take stock of what has been as well as looking towards what is to come. But if past years show us anything; a majority of resolution makers end up breaking their pacts by March (some even earlier!) and go right back to operating in the same way they always have.

It’s a human trait to thrive somewhat on routine and habit but this could end up costing you in terms of your finances.

So, instead of lengthy resolutions that may be difficult to keep; here are 5 money moves you can make right now before 2014 shows up to take advantage of your passion for improvement as long as it lasts!

1. Get serious about retirement

So, you thought you would resolve to save more money in retirement. You may do this the first few months and give up. How about preventing your future self from reneging on that promise? If you previously opted to contribute less than 11% toward your EPF; change that now! Also, check out endowment plans, the
Private Retirement Scheme
 and other automated savings plans that you can sign up with to keep you on track.

2. Get ready to do your taxes

Many Malaysians wait till the last minute to file their taxes. In their haste, they don’t maximise the exemptions and rebates they may be entitled to. Start now. Go through taxation exemptions and rebates to see how many for which you qualify. Once you’ve got a list of eligible exemptions; collect receipts together and file them for easy reference later on. Calculate the amounts you have to see if you are maximising the allotments. Thinking of a new laptop? Instead of buying in January; buy a day earlier so the receipt is valid for the 2013 filing. Of course, the point isn’t to buy things you don’t need just to claim the exemption; it’s about planning the things you do need to work in your favour.

3. Go bank shopping

In your zeal to start off on a better financial foot; why not go bank shopping? Look at how your credit cards, fixed deposits and other investments (if any) have paid off for you in the past year. If it hasn’t done as well as it could have; look to switch. As the year progresses and work commitments pick up; you won’t be thinking much about your bank and thus may lose out on better interest rates so the best time to do so is now.

How about
a better credit card
 with more benefits; a
fixed deposit with a higher return
 or even
refinancing your home
 at a more competitive rate? A lot of promotional rates for 2013 will end in a few days so check with the bank you are interested in about when the cut-off for eligibility for promotional rates happen so you don’t get stuck with a dud product.

4. Automate your savings

We all resolve that in the New Year we will save more money but this rarely happens. Sometimes it does for a few months and then you’re right back where you started. If you really do want to save more, automate your savings by taking out a
standing instruction
to transfer money to your savings account after your salary is credited every month. This way, it will be a lot harder to go back on your resolution.

5. Do your own personal auditing

How did the year progress for you financially? Did you make enough good money decisions? What about your net worth and outlook for income in the coming year? Companies do this every year; they take stock of what happened before and start a budget for the year to come. It’s a good idea if you did too.

Go through your finances, on your own if you don’t have a financial planner, and see where you can cut, save or increase to make the most of your estimated income. If your current income isn’t enough; look to making more through additional jobs or updating that resume for a trip to greener pastures. Sometimes, to look forward, you have to look back so study 2013 to see how you can make 2014 even better.

The best part about new year’s is the opportunity to start over. Of course, the opportunity is there throughout the year but the energy and tools available to you at the year-end are much more conducive to fresh starts. Take advantage of this.

Wishing you a prosperous 2014.

0

0

votes

Article Rating

SHARE

TAGS:

New Year

New Year Resolutions

About THE AUTHOR

Diana Chai

Diana Chai

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Is the New Kuala Lumpur Logo Worth All that Money?

The recently unveiled Kuala Lumpur logo had a lot of netizens talking. People are making comments on how cheap it looks, how it’s a bad exercise in unnecessary rebranding, and how unattractive it is, among other things. However, we’re more interested in how many of these criticisms come with a mention of the logo’s price tag of RM15,000.

Is that amount too much to pay for a logo that’s meant to represent our beloved Kuala Lumpur to the world? Would we have felt better about the logo’s apparent shortcomings if the price was cheaper? Let’s see if we can answer this question together and how Kuala Lumpur’s logo compares to others.

Why are City Logos Expensive?

Perhaps you have had to design a logo of your own for a party poster, your own side business, or maybe just your online social profile. It took you less than a day and you did it for free. So why do city logo-makers charge so much and how come the fees are well into the thousands?

The City Gets More than Just a Logo

The cost of designing includes more than just the logo. A typical city logo price comes with a new branding styleguide (a guide for using the logo, new original fonts, and other bonus design elements for use in the campaign), campaign direction and strategy, and other creative assets for the city’s use.

The Logo Can Make Money

The best logos appear everywhere and is even used on merchandise, generating more income long after the original artwork has been paid for. It’s only fair to pay the designer fairly for the potentially lucrative properties of a powerful logo. Especially in the case of a logo made for tourism purposes.

Good Design is Expensive

While the best logos should be easily redrawn by a child from memory, the expertise needed to come up with a great logo is hard to come by. It takes years of training, skills, and experience in creating arresting, stunning visuals that resonate and connect with people.

How Does the Kuala Lumpur Logo Stack Up Against Other Tourism Logos?

With all the hoopla surrounding the Kuala Lumpur logo, we thought it’d be fun to see what other cities’ logos look like versus how much they spent on them.

Melbourne

Reception
: Monash University Marketing expert Francis Farrelly described the logo as
“OK”
. He also says “.. it reminds me a little bit of some of the early incarnations of the MTV logo with the big M,”.

Reported Cost
:
RM 708,742

Amsterdam

Reception
: People were
outraged
 at the redesign since it only added a line break, moving the word “Amsterdam” below “Gemeente” instead of just after it on the same line. However, the cost of course includes branding identity, guidelines, and strategy.

Reported Cost
:
RM 457,370

Belfast

Reception
: While this version is widely adopted and well-liked, it wasn’t the case for its first draft. When presented with the initial logo, Lord Mayor of Belfast Jim Rodgers
refused to give his approval
. It took another month before they came up with the current logo, which critics still say is
derivative of other regional logos
.

Reported Cost
:
RM 1,041,136

As it turns out, judging the value of a rebranding exercise like this isn’t as easy as it seems. Also, it remains to be seen whether or not the new Kuala Lumpur logo will stay as it is, since the mayor, Datuk Seri Mhd Amin Nordin Abd Aziz
has said that he welcomes suggestions for improvement
.

If you want to see for yourselves whether or not the different logos for the other cities really do represent the place’s vibe, why not go there for a vacation? Use our
credit card comparison tool
 to see which travel credit card you can use to maximise your rewards when travelling overseas! Amd for all you travel aficionados out there, don’t forget to find out more about our
Travel Getaway Campaign
 to plan your upcoming travels.

Do you have something to say about tourism logos and their price tags? Share your thoughts with us in the comments section down below!

0

0

votes

Article Rating

SHARE

TAGS:

Amsterdam

Belfast

City Logos

Kuala Lumpur

Logos

Melbourne

Tourism Logos

About THE AUTHOR

Ahmad Mudhakkir

Ahmad Mudhakkir

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Panduan Memfail Cukai Pendapatan Individu 2023 (Tahun Taksiran 2022)

Musim memfail cukai pendapatan kini kembali, dan semestinya kami kembali semula dengan panduan tahunan ini untuk memudahkan proses tersebut untuk anda!

Jadi, adakah anda sudah bersedia untuk memfail cukai pendapatan anda? Sudahkah anda menerima borang EA anda dan menentukan kadar cukai pendapatan anda? Bagaimana dengan kiraan pelepasan cukai anda, serta mengumpul resit-resit yang diperlukan? Lebih penting lagi, pelepasan cukai apa yang boleh anda tuntut?

Jika anda tidak pasti, usah risau! Bolehlah merujuk kepada panduan lengkap kami untuk memfailkan cukai pendapatan anda di Malaysia bagi tahun taksiran 2022.

Adakah anda perlu membayar cukai?

(Image: Bloomberg)

Sesiapa yang memperoleh pendapatan melebihi RM34,000 setahun (kira-kira RM2,833.33 sebulan) selepas potongan KWSP wajib mendaftar sebagai pembayar cukai dengan fail cukai tersendiri.

Cukai pendapatan tidak hanya meliputi gaji bulanan anda, tetapi setiap sumber pendapatan anda. Ini termasuklah pendapatan daripada perniagaan anda, pekerjaan, dividen, faedah, diskaun, sewa, royalti, premium, pencen, anuiti, dan lain-lain. Bagi pekerja bergaji, anda juga perlu menambah pendapatan tambahan seperti bonus, pampasan kerja lebih masa (
overtime
), komisen, dan sebagainya. Pekerja bebas (
freelance
) dan sambilan juga tidak dikecualikan daripada mendaftar dan memfailkan cukai mereka.

Sementara itu, individu yang menerima pendapatan dari luar Malaysia (pendapatan sumber asing) dikecualikan daripada membayar cukai, dengan syarat anda sudah dikenakan cukai di negara asal.

Jika anda tidak pasti pendapatan mana yang perlu dilaporkan untuk tujuan cukai, kami telah menyediakan huraian yang lebih lanjut dalam salah satu bahagian dalam panduan ini (“Cara Untuk Memfailkan Cukai Pendapatan Di Malaysia” >> “Melaporkan Pendapatan Anda”) – jadi bolehlah anda merujuk kepada bahagian tersebut nanti.

Berapa Yang Perlu Dibayar: Kadar Cukai & Pendapatan Bercukai (Tahun Taksiran 2022)

Berikut adalah kadar cukai yang perlu dibayar oleh pembayar cukai individu untuk tahun taksiran 2022, bergantung pada pendapatan bercukai mereka:

Banjaran pendapatan bercukai (RM)
Pengiraan (RM)
Kadar (%)
Cukai (RM)
0 – 5,000
5,000 pertama
0
0
5,001 – 20,000
5,000 pertama
15,000 berikutnya

1
0
150
20,001 – 35,000
20,000 pertama
15,000 berikutnya

3
150
450
35,001 – 50,000
35,000 pertama
15,000 berikutnya

8
600
1,200
50,001 – 70,000
50,000 pertama
20,000 berikutnya

13
1,800
2,600
70,001 – 100,000
70,000 pertama
30,000 berikutnya

21
4,400
6,300
100,001 – 250,000
100,000 pertama
150,000 berikutnya

24
10,700
36,000
250,001 – 400,000
250,000 pertama
150,000 berikutnya

24.5
46,700
36,750
400,001 – 600,000
400,000 pertama
200,000 berikutnya

25
83,450
50,000
600,001 – 1,000,000
600,000 pertama
400,000 berikutnya

26
133,450
104,000
1,000,001 – 2,000,000
1,000,000 pertama
1,000,000 berikutnya

28
237,450
280,000
Exceeding 2,000,000
2,000,000 pertama
Setiap ringgit berikutnya

30
517,450
……………

Untuk menentukan kadar cukai anda menggunakan jadual di atas, anda perlulah mengira pendapatan bercukai anda terlebih dahulu; jumlah ini boleh didapati apabila anda menolak sebarang potongan dan pelepasan cukai daripada jumlah pendapatan anda yang wajib dikenakan cukai. Seperti yang boleh dilihat, kadar cukai yang dikenakan akan meningkat mengikut banjaran pendapatan bercukai anda. Jika anda boleh mengurangkan pendapatan bercukai anda supaya anda dikategorikan dalam banjaran pendapatan bercukai yang lebih rendah (melalui pelepasan cukai dan sebagainya), maka jumlah cukai yang perlu dibayar juga akan dapat dikurangkan.

Sebagai contoh, katakan jumlah pendapatan anda yang wajib dikenakan cukai adalah RM48,000. Ini bermakna kadar cukai anda adalah 8%, dan cukai yang perlu dibayar adalah RM1,640 (RM600 + RM1,040). Namun, jika anda layak untuk mendapat potongan dan pelepasan cukai sebanyak RM13,500, pendapatan bercukai anda akan dikurangkan kepada RM34,500. Ini bermaksud anda akan diklasifikasikan dalam banjaran pendapatan cukai yang lebih rendah, dengan kadar cukai hanya sebanyak 3%. Jumlah cukai yang perlu dibayar juga dikurangkan sebanyak RM1,055, daripada RM1,640 kepada RM585!

Cukai Untuk Warga Asing (Pemastautin & Bukan Pemastautin)

(Image: NSTP/ Hafiz Sohaimi)

Bagaimana dengan warga asing atau ekspatriat yang bekerja di Malaysia? Adakah mereka juga perlu membayar cukai pendapatan? Pendek kata, ya.

Semua warga asing yang bekerja di Malaysia melebihi 182 hari (dirujuk sebagai individu bermastautin) layak dikenakan cukai dengan kadar cukai yang sama dengan warganegara Malaysia.

Bagi mereka yang tinggal di Malaysia kurang daripada 182 hari dan bekerja sekurang-kurangnya 60 hari pula (dirujuk sebagai individu tidak bermastautin), mereka akan dikenakan kadar rata berdasarkan jenis pendapatan mereka:

Jenis pendapatan
Kadar (%)
– Perniagaan, perdagangan, atau profesion
– Penggajian
– Dividen
– Sewa
30
– Penghibur awam
– Faedah
15
– Royalti
– Bayaran untuk perkhidmatan yang diberikan oleh seseorang bukan pemastautin atau pekerjanya berkaitan dengan penggunaan harta atau hak-hak yang dipunyai olehnya, atau pemasangan atau pengendalian apa-apa loji, jentera, atau alat-alat lain yang dibeli daripada bukan pemastautin
– Bayaran untuk nasihat teknikal, bantuan atau perkhidmatan yang diberi berkaitan pengurusan atau pentadbiran teknikal apa-apa perusahaan, usaha, projek, atau skim saintifik, perindustrian, atau perdagangan
– Sewa atau apa-apa bayaran berhubung penggunaan harta benda yang boleh dialihkan
10

LHDN
 juga menjelaskan bahawa warga asing tidak akan dikenakan cukai jika mereka:

Bekerja di Malaysia kurang dari 60 hari

Bekerja di atas kapal Malaysia

Berumur 55 tahun dan menerima pencen daripada penggajian Malaysia

Menerima faedah bank

Menerima dividen yang dikecualikan cukai

Cara Untuk Memfailkan Cukai Pendapatan Di Malaysia

Inilah bahagian utama panduan kita! Pertama sekali, jenis pendapatan yang diterima oleh anda akan menentukan jenis borang cukai pendapatan yang perlu digunakan. Sebagai contoh, individu pemastautin yang tidak menjalankan perniagaan akan menggunakan borang BE, manakala individu pemastautin yang menjalan perniagaan akan menggunakan borang B.

Sementara itu, warga asing bukan pemastautin pula akan memfailkan borang M. Terdapat beberapa klasifikasi ekstra untuk situasi ini sebenarnya, tetapi kami akan memberikan penjelasan yang lebih lanjut dalam bahagian “Mengakses e-Filing Dan BNCP Anda” nanti.

Selain itu, ambil maklum juga bahawa tarikh akhir untuk memfailkan cukai pendapatan di Malaysia berbeza mengikut jenis borang yang diisi. Bagi mereka yang mengisi borang BE, tarikh akhir akan jatuh sama ada pada 30 April 2023 (pemfailan manual) atau 15 Mei 2023 (e-Filing). Individu yang mengisi borang B pula perlu menghantar borang mereka sebelum 30 Jun (pemfailan manual) atau 15 Julai (e-Filing).

Seterusnya, kami akan menjelaskan proses untuk memfailkan cukai anda secara mendalam.

1) Mendaftar sebagai pembayar cukai buat kali pertama di e-Daftar

Jika anda akan memfailkan cukai anda buat kali pertama pada tahun ini, terdapat dua perkara yang perlu dilakukan terlebih dahulu:

Dapatkan nombor cukai pendapatan anda (untuk menunjukkan bahawa anda adalah pembayar cukai berdaftar)

DapatkanPIN sekali guna untuk mendaftar dan mengakses e-Filing (perkhidmatan dalam talian yang digunakan untuk menyerahkan borang nyata cukai pendapatan (BNCP) anda)

Untuk mendapatkan nombor cukai pendapatan, anda perlu mendaftar sebagai pembayar cukai di e-Daftar (e-Daftar boleh diakses melalui portal MyTax). Selepas itu, bolehlah mendapatkan PIN untuk e-Filing melalui kaedah dalam talian atau dengan melawat cawangan LHDN. Untuk penjelasan terperinci tentang cara untuk mendaftar sebagai pembayar cukai buat kali pertama, kami juga telah menyediakan
 panduan komprehensif
 di sini.

Sementara itu, anda bolehlah merujuk kepada infografik ini untuk memahami proses keseluruhan secara ringkas:

2) Mengakses e-Filing dan BNCP anda

Pembayar cukai yang sudah berdaftar pula boleh terus ke laman web MyTax untuk mengakses perkhidmatan e-Filing dan mula mengisi borang nyata cukai pendapatan (BNCP) mereka. Pada tahun-tahun lepas, pembayar cukai biasanya akan mengakses e-Filing melalui laman web ezHASiL, tetapi ini kini tidak dibenarkan lagi; URL untuk ezHASiL hanya akan menghantar anda kembali ke MyTax. Ini disebabkan LHDN ingin mengusahakan MyTax sebagai portal utama untuk mengendalikan segala perkara berkaitan dengan cukai.

Selain itu, anda juga boleh memilih untuk membaca halaman web e-Filing, BNCP anda, serta seluruh laman web MyTax anda dalam Bahasa Inggeris atau Bahasa Malaysia. Anda hanya perlu menekan butang yang terdapat di sudut kanan (bahagian atas) pada skrin anda. Anda juga boleh memilih untuk melihat laman web MyTax dalam mod terang atau gelap.

Setelah anda log masuk ke akaun MyTax anda, anda akan dibawa ke papan pemuka MyTax anda yang memaparkan pelbagai maklumat, misalnya baki cukai anda dan jumlah bayaran balik. Untuk mengakses e-Filing, klik pada pautan “Perkhidmatan ezHASiL” di sudut kanan dan pilih e-Filing dalam senarai yang muncul.

Di halaman seterusnya, pembayar cukai yang pernah mengisi BNCP boleh klik pada “e-BE Tahun Taksiran 2022” (atau mana-mana borang yang telah anda gunakan sebelum ini) untuk mengakses BNCP anda dengan pantas. Bagi mereka yang tidak mempunya pautan pantas tersebut, atau perlu memilih borang baharu (kerana sumber pendapatan telah berubah), silalah klik “e-Borang” pula.

Ketika memilih BNCP yang perlu diisi, pastikan ia adalah borang yang betul berdasarkan kategori pendapatan anda:

Borang nyata cukai pendapatan (BNCP)
Kategori
e-B/e-BT
Untuk individu pemastautin yang menjalankan perniagaan/pekerja berpengetahuan atau berkepakaran
e-BE
Untuk individu pemastautin yang tidak menjalankan perniagaan
e-M/e-MT
Untuk individu bukan pemastautin/individu pemastautin yang merupakan pekerja berpengetahuan

Anda boleh melihat senarai penuh BNCP lain yang tersedia (termasuk untuk perkongsian, pertubuhan, dan harta pusaka) di
 laman web LHDN di sini
.

Semasa memilih BNCP anda, pastikan anda juga memilih tahun taksiran yang betul, iaitu tahun taksiran 2022 (ingat, anda sedang melaporkan pendapatan yang diperoleh pada tahun lepas).

3) Mengisi BNCP anda

Dengan itu, kita boleh mula mengisi BNCP anda. Berikut adalah bahagian-bahagian borang BE yang perlu diisi (untuk individu pemastautin yang tidak menjalankan perniagaan):

i) Profil Individu

Bahagian ini adalah tentang butiran peribadi anda. Untuk memudahkan proses pemfailan cukai anda, sesetengah butiran akan telah diisi secara automatik berdasarkan maklumat yang sedia ada (dipetik daripada pendaftaran anda sebagai pembayar cukai), tetapi sebagai langkah berjaga-jaga, anda haruslah semak semula butiran-butiran ini untuk memastikan bahawa ianya tepat. Pastikan juga bahawa anda
memilih jenis taksiran (
type of assessment
) yang betul
, sama ada anda akan memfailkan cukai pendapatan anda secara individu, berasingan, atau bersama dengan pasangan anda.

Segelintir daripada anda mungkin juga akan perasan bahawa prefix nombor pengenalan cukai (TIN) anda telah diubah. Usah risau! Ini adalah berikutan keputusan LHDN untuk melaksanakan prefix yang baru untuk pembayar cukai individu, diubah dari SG (individu dengan sumber pendapatan bukan perniagaan) dan OG (individu dengan sumber pendapatan perniagaan) kepada IG. Ini supaya LHDN dapat menguruskan pembayar cukai dengan lebih efektif, serta mengelakkan kekeliruan dalam kalangan pembayar cukai individu.

Lebih penting lagi, perubahan prefix ini
tidak akan mengubah nombor cukai pendapatan individu yang sedia ada
, jadi anda bolehlah memfailkan BNCP anda seperti biasa.

ii) Profil lain

Bahagian ini merupakan kesinambungan kepada bahagian sebelum ini (“Profil Individu”), dan ia juga berkaitan dengan butiran individu anda. Pastikan anda mencatatkan
nombor telefon yang betul
 kerana LHDN akan menghantar TAC kepada anda apabila anda menandatangani dan menyerahkan borang BE anda kelak.
Nombor akaun bank
 anda juga mesti tepat supaya bayaran balik lebihan cukai anda boleh diterima. Selain itu, anda kini boleh memilih untuk menerima bayaran balik lebihan cukai anda melalui DuitNow (sila pilih “Bayaran melalui DuitNow” untuk “Kaedah bayaran balik lebihan cukai”, dan isi maklumat yang diperlukan).

Jika anda kini bekerja untuk majikan yang baru, pastikan anda juga menukar
nombor majikan
 dalam borang BE anda. Selain itu, jika anda menikmati manfaat dimana cukai pendapatan anda akan dibayar oleh majikan anda (elaun cukai diberikan sebagai sebahagian daripada pendapatan kasar/gaji anda), jangan lupa untuk melaporkan butiran ini di bawah “Cukai ditanggung oleh majikan”.

Jangan lupa untuk isi bahagian
“Melupuskan asset di bawah Akta Cukai Keuntungan Harta Tanah 1976”
 juga jika anda telah menjual hartanah pada tahun lepas.

Di penghujung bahagian ini, terdapat seksyen
“Tuntutan Insentif”
 di bawah perenggan 127(3)(b) dan 127(3A) yang berkaitan dengan pengecualian khusus yang dibenarkan oleh Menteri Kewangan. Anda tidak perlu isi seksyen ini jika ia tidak relevan.

iii) Laporkan pendapatan anda

Untuk bahagian
“Pendapatan berkanun dan jumlah pendapatan”
, isikan jumlah pendapatan yang telah diperoleh melalui penggajian anda, sewa, serta sumber-sumber lain dalam kotak yang tepat. Borang EA daripada majikan anda amatlah penting untuk bahagian ini kerana ia menunjukkan jumlah pendapatan tahunan yang telah anda peroleh daripada majikan anda.

Namun, ambil maklum juga bahawa kadang-kala, jumlah pendapatan tahunan yang dicatatkan dalam borang EA tidak boleh diterima bulat-bulat sebagai pendapatan berkanun daripada penggajian anda. Ini kerana anda turut perlu melaporkan semua manfaat lain (bukan dalam bentuk wang) yang juga boleh dikira sebagai sebahagian daripada pendapatan penggajian anda. Ini termasuklah pendapatan daripada sewa, faedah, diskaun, royalty, premium, pencen, anuiti, bayaran berkala, serta bayaran yang diterima untuk kerja sambilan (penyiaran, syarahan, penulis, dan sebagainya).

Selain itu, jangan lupa untuk potong sebarang pendapatan yang berhak mendapat pengecualian cukai. Contohnya, perkuisit (yang meliputi item seperti elaun tempat letak kereta, perubatan, dan pengangkutan) serta manfaat berbentuk benda (seperti kereta, pemandu peribadi, penginapan, dan sebagainya) dikenakan cukai di bawah undang-undang, tetapi kerajaan telah membenarkan beberapa jenis pengecualian cukai untuk mereka.

Jika anda kehilangan kerja pada tahun sebelum ini,
 pakej pemecatan
 anda juga mungkin dikecualikan daripada pembayaran cukai di bawah syarat tertentu. Dan jika anda ingin mengetahui sama ada elaun perjalanan RM100 anda turut dikecualikan cukai, bacalah artikel kami tentang
 pengecualian cukai
.

Setelah mengisi semua maklumat yang diperlukan, borang BE anda akan mengira dan menunjukkan
pendapatan agregat
 anda secara automatik (
aggregate income,
iaitu jumlah pendapatan anda daripada semua sumber pendapatan). Selepas itu, anda perlu mengira
potongan cukai
yang layak diterima pula, supaya anda boleh mengurangkan pendapatan agregat anda. Contohnya, jika anda telah membuat sumbangan hadiah atau derma kepada kerajaan atau organisasi be daftar, maka bolehlah anda membuat potongan cukai daripada pendapatan agregat anda. Selepas membuat potongan ini, anda akan mendapat
jumlah pendapatan anda (
total income
)
.

Di penghujung bahagian ini, anda juga akan perlu mengisi jumlah
potongan cukai bulanan (PCB)
 yang dibayar sepanjang tahun taksiran anda. Butiran ini akan dicatatkan dalam borang EA anda. PCB –juga dikenali sebagai
monthly tax deductions
 (MTD) – adalah mekanisme wajib yang digunakan oleh majikan untuk memotong bayaran cukai daripada gaji pekerja setiap bulan.

Selain itu, terdapat butiran-butiran lain dalam halaman ini yang boleh diisi jika ia relevan kepada anda. Ini termasuklah maklumat mengenai pendapatan bukan penggajian pada tahun-tahun lepas yang belum dilaporkan, pelaburan yang diluluskan di bawah insentif cukai bagi pelabur mangkin, serta ansuran sendiri. Terdapat juga seksyen baru di mana anda boleh melaporkan pendapatan punca luar Malaysia yang diterima di Malaysia, dan dikecualikan cukai.

iv) Tuntut pelepasan dan rebat cukai

Seperti yang telah dikatakan sebelum ini,
pelepasan cukai
 boleh mengurangkan pendapatan bercukai anda (sekali dengan kadar cukai yang dikenakan dan jumlah cukai yang perlu dibayar). Oleh itu, tidak hairan jika topik ini menjadi fokus utama setiap pembayar cukai! Kami telah menyediakan
 artikel yang khusus menjelaskan semua pelepasan cukai
 yang boleh dituntut untuk tahun taksiran 2022, tetapi anda boleh juga merujuk kepada infografik berikut sebagai ringkasan:

Selepas menuntut semua pelepasan cukai anda, anda akan mengetahui pendapatan bercukai anda, kadar cukai, serta jumlah cukai yang perlu dibayar. Tetapi sebelum anda teruskan, terdapat satu komponen terakhir yang akan membantu anda mengurangkan lagi jumlah cukai yang perlu dibayar:
rebat cukai
.

Seperti yang anda lihat dalam infografik di atas, anda layak mendapat rebat cukai sebanyak RM400 untuk diri sendiri jika pendapatan bercukai anda tidak melebihi RM35,000.
Zakat
 dan
fitrah
 juga boleh dituntut sebagai rebat cukai, sebanyak jumlah yang telah dibayar.

Jadi, katakan pendapatan penggajian anda ialah RM50,000 untuk tahun taksiran 2022, dan anda telah menuntut RM15,000 sebagai pelepasan cukai. Ini mengurangkan pendapatan bercukai anda kepada RM35,000 – bermakna jumlah cukai yang perlu anda bayar ialah RM600. Oleh kerana pendapatan bercukai anda telah mencecah RM35,000, anda tidak layak mendapat rebat cukai RM400 yang diberikan untuk individu yang berpendapatan kurang daripada RM35,000. Walau bagaimanapun, jika anda telah menyumbang RM400 untuk zakat pada tahun lepas, maka anda boleh memotongnya sebagai rebat cukai. Tuntasnya, jumlah cukai terakhir yang perlu anda bayar adalah RM200.

v) Semak ringkasan anda

Sekiranya anda sudah tiba di halaman ringkasan, ini bermakna anda hampir selesai! Dalam halaman ini, jumlah cukai akhir anda sepatutnya dipaparkan. Jangan risau jika jumlah cukai anda adalah negatif kerana ini menunjukkan bahawa anda telah terbayar lebih cukai melalui PCB (anda akan mendapat bayaran balik cukai daripada kerajaan).

Pada peringkat ini, anda masih boleh menyunting borang dan meminda sebarang butiran yang anda mungkin terlepas pandang, dan pembetulan yang dibuat akan ditunjukkan pada jumlah cukai akhir secara automatik. Setelah anda yakin bahawa borang anda tidak mengandungi sebarang kesilapan, klik “Seterusnya”.

Apabila tiba di halaman pengisytiharan, minta TAC melalui nombor yang telah anda daftarkan dengan LHDN dan isikannya. Kemudian, klik butang “Tandatangan dan Hantar”, dan masukkan nombor pengenalan serta kata laluan anda dalam tetingkap timbul (pastikan pelayar web anda membenarkan tetingkap timbul untuk muncul!) dan tekan butang yang tepat.

Dengan itu, cukai anda untuk Tahun Taksiran 2022 sudah difailkan! Satu perkara terakhir yang perlu dilakukan sebelum anda tutup laman web LHDN: ingat untuk menyimpan dan mencetak borang pengakuan dan e-BE untuk tujuan rekod, dan simpankan bersama resit yang telah anda kumpulkan! Resit ini mesti disimpan selama sekurang-kurangnya tujuh tahun, sekiranya LHDN ingin membuat semakan pada masa kelak.

Meminda Borang Cukai Pendapatan Anda

Kami pasti anda akan cuba sebaik mungkin untuk memfailkan cukai anda dengan tepat dan teliti, tetapi kadangkala kesilapan masih akan berlaku! Tidak perlu panik kerana anda boleh mengemukakan rayuan untuk pindaan pada atau sebelum 30 April 2023. Anda boleh mengambil langkah berikut:

Cetak e-borang anda dan buat pembetulan dalam ruang yang salah (anda juga perlu meninggalkan tandatangan atau parap nama anda untuk mengesahkannya)

Kira cukai anda secara manual sehingga tahap “Cukai Dibayar”.

Hantar e-borang yang dipinda kepada cawangan LHDN yang mengendalikan fail cukai anda, bersama surat rayuan yang menerangkan pindaan

Lampirkan juga semua dokumen sokongan yang diperlukan (cth. resit, invois, dan lain-lain)

Sekiranya terdapat sebarang baki yang perlu dibayar, baki tersebut hendaklah dibayar pada/sebelum 30 April 2023

Anda juga boleh menyerahkan dokumen ini melalui Portal Maklum Balas Pelanggan LHDN, jika cara ini lebih mudah. Untuk makluman anda, LHDN akan meneliti setiap rayuan kesilapan kerana ia sebahagian daripada proses audit, dan masa yang diambil untuk pindaan akan bergantung pada maklumat dan dokumen yang dikemukakan.

Anda juga sebenarnya boleh membuat pindaan dalam talian melalui e-Filing, tetapi hanya untuk dua keadaan tertentu (pengisytiharan pendapatan yang berlebihan dan pelepasan atau rebat cukai yang tidak dituntut). Selain itu, anda mesti telah menyerahkan borang BE anda sebelum tarikh akhir penyerahan untuk menggunakan kaedah ini.

Untuk mengakses perkhidmatan ini, pergi ke papan pemuka MyTax anda, klik pada e-Filing, diikuti dengan “e-Permohonan Pindaan BE”. Isi borang tersebut dan serahkan. Fungsi ini boleh diakses mulai 1 April 2023.

Selain itu, jika anda perlu meminda BNCP anda selepas 30 April, anda dibenarkan menyerahkan Borang Nyata Terpinda (BNT) dalam tempoh enam bulan dari tarikh akhir pengemukaan BNCP. BNT anda mesti diserahkan kepada cawangan yang mengendalikan fail cukai pendapatan anda dan hanya pembayar cukai yang tidak lewat menyerahkan BNCP mereka ketika pusingan pertama dibenarkan untuk menyerahkan BNT. Ingat, kaedah pindaan ini hanya dibenarkan untuk kesilapan berikut:

Pendapatan terkurang atau tidak lapor

Perbelanjaan atau tuntutan lain yang terlebih tuntut

Elaun modal, insentif, pelepasan yang terlebih tuntut

Membayar Cukai Pendapatan Anda

Setelah cukai anda difailkan dan jumlah cukai akhir anda ditentukan, anda akan berdepan dengan salah satu daripada dua situasi.

1) Anda akan menerima bayaran balik cukai

Bagi mereka yang tertakluk kepada MTD/PCB, pelepasan cukai dan rebat yang dituntut akan membantu mengurangkan jumlah cukai akhir anda sehingga amaun itu kurang daripada jumlah PCB yang telah dibayar sepanjang tahun. Dalam kes sedemikian, anda layak untuk mendapat bayaran balik cukai. Ia akan dikreditkan secara automatik ke akaun bank yang tertera dalam borang cukai anda dalam masa 30 hari bekerja selepas BNCP anda dihantar.

2) Anda perlu membayar cukai

Sebaliknya, jika anda mendapati selepas pemfailan bahawa anda masih berhutang cukai berlebihan, anda perlu membayarnya sebelum tarikh tamat tempoh (30 April 2023). Terdapat beberapa cara yang boleh anda gunakan untuk
membayar cukai pendapatan anda di Malaysia
:

Kaedah
Maklumat
Perbankan dalam talian melalui FPX (bayaran menggunakan No. Pengenalan Cukai (TIN) atau nombor bil)
Mesti mempunyai akaun bank di Affin Bank, Alliance Bank, AmBank, Bank Islam, Bank Muamalat, Bank Rakyat, Bank Simpanan Nasional, CIMB Bank, Deutsche Bank, Hong Leong Bank, HSBC Bank, Kuwait Finance House Malaysia, Maybank, OCBC Bank, Public Bank, RHB Bank, Standard Chartered Bank, atau UOB Bank
Kad Kredit melalui ByrHASiL*
Visa, Mastercard, American Express (AMEX) diterima
Pos Malaysia (bayaran di kaunter)
Tunai sahaja
Mesin ATM
CIMB Bank, RHB Bank Maybank, and Public Bank sahaja
Mesin CDM (cash deposit machine)
Maybank sahaja
*tidak tersedia buat sementara waktu, mulai 1 Oktober 2022 sehingga tarikh yang akan dimaklumkan kemudian.

Seperti yang telah dinyatakan, pembayaran kad kredit pada masa ini tidak tersedia sehingga tarikh yang akan dimaklumkan kemudian, tetapi jika ia dibenarkan, anda harus ambil maklum bahawa hampir semua bank tidak menyediakan sebarang manfaat untuk perbelanjaan berkaitan kerajaan. Oleh itu, anda mungkin tidak akan mendapat pulangan tunai atau mata ganjaran untuk pembayaran cukai. Namun, sesetengah kad membenarkan anda menggunakan perbelanjaan berkaitan kerajaan untuk memenuhi syarat perbelanjaan bulanan atau tahunan supaya anda boleh mendapat tahap pulangan tunai yang lebih tinggi atau pengecualian yuran tahunan.

Satu lagi perkara yang perlu diberi perhatian pada tahun ini ialah
penggunaan nombor bil sebagai rujukan untuk pembayaran cukai anda
. Jika anda pernah membuat pembayaran cukai sebelum ini, anda semestinya tahu bahawa anda sepatutnya menggunakan nombor pengenalan cukai (TIN) anda sebagai rujukan untuk transaksi anda. Namun, mulai 1 Januari 2023, LHDN telah mewajibkan semua pembayar cukai untuk menggunakan nombor bil sebagai rujukan transaksi mereka (walaupun terdapat tempoh peralihan sehingga 30 Jun 2023 di mana pembayar cukai masih boleh menggunakan TIN mereka sebagai rujukan).

Secara ringkasnya, nombor bil ialah 16 digit yang digunakan untuk membantu LHDN menjejaki pembayaran cukai anda dengan lebih efisien, dan ia boleh digunakan untuk semua jenis pembayaran cukai, kecuali untuk MTD/PCB dan duti setem. Untuk mendapatkan nombor bil anda, pergi ke papan pemuka MyTax anda sekali lagi, dan klik pada “e-Billing” di bawah “Perkhidmatan ezHasil”.

Akan ada satu lagi senarai juntai bawah atau
 dropdown list
; pilih “Paparan Bil Pembayar Cukai” dan anda akan mengakses semua maklumat mengenai pembayaran cukai anda. Selain nombor bil anda, anda juga boleh melihat jumlah cukai yang perlu dibayar, serta pautan pantas yang membolehkan ada
terus membayar melalui FPX di ByrHASiL (dengan nombor bil)
 juga. Klik sahaja pada “Paparkan Bil”, dan ikut arahan yang ditunjukkan pada laman web tersebut.

Sebagai alternatif, anda juga boleh klik butang “Paparan Nombor Bil” di sudut kanan atas papan pemuka MyTax anda untuk mendapatkan nombor bil. Ia juga akan membawa anda ke halaman yang sama.

Ambil maklum bahawa anda juga perlu menjana nombor bil anda melalui e-Billing dalam MyTax jika anda memfailkan cukai secara manual; dalam kes ini, anda perlu klik pada “Janaan Bil” di bawah “e-Billing” dan bukannya “Paparan Bil Pembayar Cukai”. Lanjutan daripada itu, sekiranya anda menetap di luar negara dan perlu membayar cukai anda, anda perlu menggunakan
perkhidmatan Pemindahan Telegraf Elektronik (e-TT)
 berasingan untuk menjana nombor akaun maya (VA) tambahan, selain nombor bil.

Pembayaran Cukai Pendapatan Yang Lewat

Penalti sebanyak 10% akan dikenakan ke atas baki cukai yang belum dibayar selepas tarikh akhir (30 April atau 15 Mei). Sebaliknya, jika anda tidak bersetuju dengan penalti pembayaran lewat, anda boleh mengemukakan rayuan secara bertulis kepada Unit Pungutan LHDN dalam tempoh 30 hari selepas Notis Peningkatan Penilaian dikeluarkan. Walau bagaimanapun, penalti yang dikenakan mesti diselesaikan terlebih dahulu, tidak kira rayuan yang dibuat; jika anda berjaya, LHDN akan memulangkan amaun yang berkaitan di kemudian hari.

Rayuan Notis Taksiran Cukai Pendapatan Anda

Selepas anda memfailkan cukai anda, LHDN mungkin akan menyampaikan notis taksiran kepada anda, iaitu penyata tertulis daripada LHDN yang mengandungi butiran-butiran seperti pendapatan bercukai anda, jumlah cukai yang perlu dibayar, dan sebagainya.

Jika anda tidak bersetuju dengan mana-mana maklumat yang dicetak – mungkin disebabkan percanggahan dalam pelepasan cukai atau ralat lain – anda boleh memfailkan rayuan bagi cukai pendapatan. Rayuan hendaklah dibuat dalam tempoh 30 hari daripada tarikh notis tertulis kepada cawangan LHDN yang mengeluarkan notis tersebut.

Untuk berbuat demikian, isikan borang Q dan tulis surat untuk mengenal pasti percanggahan yang telah dikenalpasti. Selaras dengan itu, anda juga perlu menyerahkan dokumen sokongan untuk sebarang perbelanjaan, potongan, atau pelepasan yang berkaitan. Rayuan akan dimajukan kepada Pesuruhjaya Khas Cukai Pendapatan.

Jika anda terlepas tarikh akhir untuk memfailkan rayuan (dengan alasan yang sah), maka anda memerlukan borang N pula. Kedua-dua borang Q dan N boleh didapati di pejabat LHDN, atau boleh dimuat turun dari
laman web LHDN.

Bila Harus Saya Berhenti Memfailkan Cukai?

Anda dibenarkan berhenti memfail atau membayar cukai hanya apabila anda telah menutup fail cukai anda secara kekal – dibenarkan dalam keadaan berikut:

Pesara tanpa pendapatan bercukai

Individu yang akan meninggalkan Malaysia

Individu berumur 55 tahun ke atas, tanpa pendapatan bercukai

Jadi katakan anda seorang pesara yang masih kadang-kala bekerja secara sambilan (dengan pendapatan tidak melebihi RM34,000 setahun), atau individu yang berumur 45 tahun tanpa pendapatan bercukai. Dalam kedua-dua situasi, anda masih perlu terus memfailkan cukai anda.

Sesungguhnya, pemfailan cukai ini merupakan suatu persoalan akauntabiliti, dimana anda harus mengisytiharkan pendapatan anda pada tahun sebelumnya. Ia tidak semestinya bermaksud anda perlu membayar cukai; anda hanya membayar cukai jika pendapatan anda layak dikenakan cukai.

Sebaliknya, mereka yang layak menutup fail cukai mereka secara kekal dan ingin berbuat demikian boleh menghantar surat rasmi kepada cawangan LHDN yang mengendalikan fail cukai mereka. Anda juga mesti memastikan bahawa tiada jumlah tertunggak yang perlu dibayar, atau status bayaran balik yang belum selesai sebelum menyerahkan permohonan anda.

***

Seperti biasa, kami mengucapkan selamat maju jaya kepada mereka yang akan memfailkan cukai, dan berharap panduan tahunan kami berjaya meleraikan sebarang kekeliruan yang mungkin dihadapi. Jika anda memerlukan bantuan lanjut, kami turut mempunya artikel-artikel lain yang menangani pelbagai aspek pemfailan cukai, seperti
cara untuk mendaftar sebagai pembayar cukai kali pertama
 dan
cara menuntut pelepasan cukai untuk premium insurans anda
.

0

0

votes

Article Rating

SHARE

TAGS:

byrHASIL

Cukai Pendapatan

Cukai Pendapatan 2023

Cukai Pendapatan Tahun 2022

e-Daftar

e-filing Cukai Pendapatan

ezHASiL

Lembaga Hasil Dalam Negeri

LHDN

LHDN MyTax

Memfail Cukai Pendapatan

MyTAX

Panduan Memfail Cukai Pendapatan

About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


PRIHATIN Economic Stimulus Package: 3-Month Premium Deferment For Insurance And Takaful Plans

Insurance companies will be offering a premium deferment of three months for policyholders whose source of income is affected by the Covid-19 pandemic. Takaful certificate holders who have had their source of income affected will also be able to defer paying their contributions for three months.

The measure was announced by Prime Minister Tan Sri Muhyiddin Yassin as part of the
 Prihatin Economic Stimulus Package
 today. Unfortunately, no further details were given on the process of the premium deferment – we will update the article when we receive more information.

According to the Prime Minister, the insurance and takaful industry will also be contributing to the Ministry of Health’s efforts to carry out more widespread testing for the Covid-19 virus. A special fund amounting to RM8 million will be launched to subsidise the cost of Covid-19 testing at private hospitals or laboratories – for up to RM300 for each medical policy/certificate holder that has been directed to undergo testing by the Ministry of Health.

0

0

votes

Article Rating

SHARE

TAGS:

Covid-19

Covid-19 Testing

Economic Stimulus Package

Insurance Premiums

Payment Deferment

PRIHATIN Economic Stimulus Package

Takaful Contributions

Tan Sri Muhyiddin Yassin

About THE AUTHOR

Jacie Tan

Jacie Tan

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


TNG Visa Prepaid Card Officially Launched, Now Available For Application For All Users

(Image: Lowyat.NET)

Touch ‘n Go (TNG) eWallet has officially launched its Visa prepaid card, with applications for the long-awaited product now open to all users. Said to be Malaysia’s first numberless card, it will provide users with an easier payment experience, as well as enable them to enjoy various conveniences, such as making card payments at all Visa merchants globally and withdrawing cash at any ATMs worldwide.

In its FAQ, TNG explained that users will not need to manually top up their Visa prepaid card as the card balance is tied to their TNG eWallet balance. This means that as long as you have sufficient balance in your eWallet, you’ll be able to make purchases. On top of that, you will also be able to enjoy competitive and transparent foreign exchange rates when you use the card to perform transactions abroad. Note, however, that the TNG Visa prepaid card cannot be used for selected payments – such as public transportation, toll, and parking payments – due to technology limitation.

Meanwhile, as a numberless card, the TNG Visa prepaid card will offer greater privacy and fraud protection. If you would like to view your card details, simply tap into your TNG eWallet app, and head on to your account profile page (under the Visa Card section). Other security features that users can also utilise include the ability to set your PIN from the TNG eWallet app and to freeze the card if you suspect that your card details have been compromised.

In using the card, you will need to abide by certain daily and monthly limits, as indicated below:

Transactions
Limits
ATM withdrawals
– 5 withdrawals per day (maximum RM1,000 per transaction)
– Cumulative maximum of RM5,000 per day
Online transactions
– 10 online transactions per day
– Cumulative maximum of RM5,000 per day
Offline transactions
Paywave

– 5 transactions per day
– Cumulative maximum of RM1,250 per day
PIN

– 10 transactions per day
– Cumulative maximum of RM5,000 per day

Monthly limits, meanwhile, are subjected to users’ existing TNG eWallet threshold.

As for fees, there is an application fee of RM10 (inclusive of the delivery fee of RM5) and an annual fee of RM8. At the moment, however, applicants can enjoy an RM5 waiver on the application fee, and will only need to pay the RM5 delivery fee. A donation of RM2 will also be made with every card application to benefit United Voice, an advocacy group for individuals with learning disabilities.

Do be aware as well that there is a fee of RM1.40 for ATM withdrawals made locally, and RM5 for ATM withdrawals made abroad.

If you’re interested to apply for the TNG Visa prepaid card, the application process is relatively simple; just head on over to your account profile page and tap on “Visa Card” under the Payments section. From there, tap on “Get Card Now”, and you’ll be prompted to key in all the necessary details and to make your payments.

TNG had first announced its
plan to roll out the Visa prepaid card
 all the way back in October 2021. It eventually began rolling out the card to
a limited group of users
 in a trial run at the end of December 2022.

(Source:
TNG
)

3.8

4

votes

Article Rating

SHARE

TAGS:

TNG

TNG Digital

TNG eWallet

TNG Visa Prepaid Card

Touch 'n Go

Touch 'n Go eWallet

United Voice

Visa

About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Citi Revises Citi Prestige Card, Removes Unlimited Airport Lounge Access

Citibank has announced a revision for two of the Citi Prestige card’s benefits, effective 3 March 2020. The first concerns the Citi Prestige card’s complimentary airport lounge access which will now be limited to 12 times entry a year, and the second changes the Citi Prestige’s complimentary night stay benefit slightly.

Currently, the Citi Prestige card is one of the few credit cards issued in Malaysia that offer unlimited free access into over 1,000 airport lounges around the world through Mastercard Airport Experiences by LoungeKey. From 3 March onwards, the Citi Prestige card will only allow 12 complimentary visits in a year.

Meanwhile, another benefit that will see a tweak is the Citi Prestige card’s international complimentary stay benefit. Citi Prestige cardholders get one night of complimentary stay with a minimum 4-consecutive-night stay for reservations that are made through the Citi Prestige Concierge.

While the benefit itself has not changed, the mechanics of how the cardholder receives the complimentary night stay benefit will vary slightly. At present, the cardholder is charged the total cost of the full stay at
checkout
 and will receive a credit to their credit card statement.

Under the revised clause, the Citi Prestige cardholder will be charged the total cost of the stay at the
time of booking.
Moreover, if the reservation is cancelled, changed, or if check-out occurs before the fourth night, the complimentary fourth night is forfeited.

Of the two changes announced, it’s clear that the airport lounge access revision will have a greater impact than the tweaking of the complimentary stay benefit. While 12 complimentary airport lounge visits per year is still quite a generous allocation, frequent fliers who have been used to the Citi Prestige card’s luxury of unlimited access may feel the difference a bit more.

(Source:
Citibank
)

0

0

votes

Article Rating

SHARE

TAGS:

Airport Lounge Access

Citi

Citi Prestige

Citibank

LoungeKey

Mastercard Airport Experiences

About THE AUTHOR

Jacie Tan

Jacie Tan

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


This Will Help You Cut Down on Monthly Utilities

In an age that’s moving at almost supersonic speeds, all branches of technology and the people who use them rejoice at the availability of equally fast broadband speeds.

TIME
 recently launched three pretty amazing packages that will surely knock your socks off and change the game of the existing market. Let’s take a closer look at them.

The Malaysian Broadband Market

Before we check out what TIME brings to the table, it’s only fair to observe what some of the biggest names in the Malaysian broadband landscape have to offer.

The MaxisONE Home plan offers 100Mbps at RM330 and RM398 for MaxisONE members and non-members respectively. Their 20Mbps plan is priced at RM198 while 30Mbps plan stands at RM248 for non-members – both of which are available to members for RM28 less. The 10Mbps plan levies a monthly charge of RM148 but can be enjoyed for RM128 under MaxisONE.

Telekom Malaysia (TM) also recently announced the Unifi Pro Plan that offers 100Mbps from RM329 a month and an early bird promotion that gives you a discount of RM30. Its 30Mbps and 50Mbps plans start from RM179 and RM299 a month respectively.

Let’s now see what TIME’s brand new plans look like.

TIME Fibre Home Broadband Plans

The first of three amazing selections launched by
TIME
 includes the unlimited 100Mbps plan that costs only RM149 a month. Its capacity is perfect to make online activities a breeze and is best for households with up to 6 connected devices. You can download an HD (high definition) movie in 2 minutes and 39 seconds.

TIME’s second plan is the unlimited 300Mbps plan that costs a meager RM189 each month. With that much speed, intense internet activities are taken in effortless strides. It comfortably supports up to 8 devices simultaneously and downloads an HD movie in 53 seconds.

Last but certainly not least is the whopping unlimited 500Mbps plan that costs a humble monthly RM299 per month. This is the type of speed that can satisfy any hardcore gamer – with the capability of supporting more than 8 within the same household, at the same time. Movie buffs need not worry about not having enough time to download their insane list of movies as a single HD movie can be downloaded in a mind-boggling 32 seconds.

What’s amazing is all of TIME’s plans offer unlimited symmetrical upload and download speeds – meaning usage quota is something that does not exist in their service dictionary! Here’s some additional information packaged into a simple table:

TIME Fibre Home Broadband Plans

100Mbps

300Mbps

500Mbps

Price (per month)

RM149

RM189

RM299

HD Movie Download Speed

2m 39s

53s

32s

Router Model

D-Link DIR-850L

D-Link DIR-850L

Linksys EA6350

Voice Calls

Pay-per-use or RM10/month for 2,000 mins*

Pay-per-use or RM10/month for 2,000 mins*

Pay-per-use or RM10/month for 2,000 mins*

*9 sen/min for calls to all fixed and mobile numbers nationwide, and 8 sen/min for IDD calls to 60 countries. Entitlement of 2,000 minutes is renewable yearly and must be utilised within 12 months of activation. T&C apply.

TIME to Up Your Broadband Game!

The cherry on top of TIME’s game-changing plan is that it automatically upgraded all of its existing TIME customers to speeds of up to ten times faster than before. Those who have been automatically upgraded are given the liberty of making a one-time switch of plans at no charge at all* and is perfect for when you run into changes in the number of connected devices at home or simply require lesser speeds – all to better help regulate expenses.

Now’s the time to make the shift for remarkably smoother internet use.

Incredible speeds and customer-oriented services, now that’s what we call value for money. It’s
TIME
 you up your broadband!

*Terms and conditions apply.

*Infographic provided by TIME

0

0

votes

Article Rating

SHARE

TAGS:

Broadband Plans

Broadband Services

MaxisOne Home

Telekom Malaysia

TIME

TIME Fibre Home Broadband Plans

Unifi

Unifi Pro Plan

About THE AUTHOR

ringgitplus

ringgitplus

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Shopee: 75% Malaysians Rely On Influencers To Find Problem Solutions, Expand Product Knowledge

A recent study by Shopee has found that 75% of its survey participants prefer to turn to influencers’ tutorial videos to look for solutions to their daily problems, as well as to expand their product knowledge. Revealed in the Future of E-Commerce With Malaysian Influencers 2022 survey, the study’s data also highlighted the importance and relatability of the influencer community online to the Malaysian public, specifically in the e-commerce space.

Breaking down the 75% of total respondents mentioned, 41% of survey participants said that they rely on influencers to find affordable and effective solutions, while 18% indicated that they feel empowered by the similar interests that they share with their preferred influencers. Another 16% explicitly agreed that influencers are their primary source to help with a problem.

Meanwhile, the remaining 25% of the total survey respondents said that they do not watch influencer tutorial videos.

Speaking at a virtual forum, the head of marketing campaigns at Shopee Malaysia, Kenneth Soh also emphasised the impact of livestreaming for influencers, who use it to build more engaging and personalised relationships with their customers. Not only can they bond and interact with their followers, they can also foster strong brand relationships, stay relevant, and find their own niche – among other things. These, in turn, drive sales conversion and cultivate loyalty among customers.

That said, Soh acknowledged that sales conversion is not necessarily the be-all and end-all of influencer livestreaming. Instead, it can also be about communicating and building trust between members of the community, and between sellers and buyers.

“On Shopee, we have an ecosystem of trusted influencers (on Shopee Live) – they are fellow users and sellers themselves who provide authentic experiences during Big Campaigns. While thousands of buyers watch Shopee Live daily, not everyone watches solely for shopping purposes. In fact, 27% of our surveyed buyers watch Shopee Live for entertainment and educational content,” said Soh, adding that five out of ten respondents said that they relate more to micro-nano influencers with less than 500,000 followers. Meanwhile, Shopee Live is Shopee’s exclusive livestreaming platform that was launched back in 2019.

Respondents also cited other reasons for tuning in to livestreams, including wanting to stay on trend and to share it with family and friends (17%), as well as to win prizes and giveaways (14%).

Shopee’s Future of E-Commerce With Malaysian Influencers 2022 study was conducted fairly recently, between September and October 2022. It drew its survey results from a sample size of 2,459 Malaysian buyers and 1,035 Malaysian sellers on the platform.

(Source:
Shopee
)

0

0

votes

Article Rating

SHARE

TAGS:

E-Commerce

E-Commerce Platforms

Influencer Marketing

Influencers

Livestreaming

Online Shopping

Online Shopping Platforms

Shopee

About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Register For ePemula With ShopeePay And Get Vouchers Worth RM500, Extra Perks

Like all the other
ePemula e-wallet partners
, ShopeePay, too, is boosting the RM150 ePemula credit provided by the government with some additional incentives of its own. Individuals who claim their ePemula credit with ShopeePay will be rewarded with exclusive Shopee vouchers amounting to RM500, along with some other extra perks.

According to Shopee’s ePemula landing page, the vouchers worth RM500 will be provided to the claimants in the form of:

ShopeeFood free delivery and food discount vouchers
ShopeePay cashback vouchers
Shopee Mall brand vouchers

On top of these, ePemula recipients can also grab themselves a free YES SIM card with up to 40GB of free mobile data vouchers (worth up to RM50), as well as Siswa Mall vouchers (worth up to RM200). Briefly, Siswa Mall is a separate collaboration between the Ministry of Higher Education and Shopee to encourage entrepreneurship among students and IPT graduates.

There are also early-bird bonuses available. The first 200,000 claimants who register for ePemula with ShopeePay will get another RM100 in the form of vouchers from top brands – in addition to the RM500 incentives mentioned above. These extra brand vouchers include major names such as Guardian, Cold Storage, and Polo Hill.

Additionally, the first 20,000 successful ePemula claimants can enjoy 3% Coins cashback (capped at 300 Coins per transaction) when they pay for their purchases by scanning
any
 DuitNow QR code using ShopeePay. You will not need to meet any minimum spend requirement to enjoy this, but you must have successfully claimed your ePemula credit and received the RM500 vouchers mentioned above. This cashback is offered only until 10 June 2022.

If you wish to claim your ePemula credit with ShopeePay, tap on the ePemula tile in your app, followed by “Claim Now”. You will then need to fill in the application form. Make sure to verify your ShopeePay account beforehand as well!

Your application will be processed within three days, and if successful, you will receive a notification, along with your RM150 ePemula credit in your account. Meanwhile, the extra incentives of RM500 vouchers will be directly credited into your ShopeePay account within 24 hours of your successful application.

Note that your ePemula credit is strictly for in-store purchases only, while the extra vouchers by Shopee can be used for online as well as offline purchases – depending on their terms and conditions.

Besides ShopeePay, other ePemula e-wallet providers –
GrabPay
,
BigPay
 and
Touch ‘n Go eWallet
 – are also offering a range of interesting perks in addition to the ePemula credit. Make sure to check them out before registering; you can
register for ePemula
 starting from today until 1 June 2022.

(Source:
Shopee
)

2

1

vote

Article Rating

SHARE

TAGS:

ePemula

Shopee

Shopee Coins Cashback

Shopee Vouchers

ShopeePay

Siswa Mall

About THE AUTHOR

Nur Adilah Ramli

Nur Adilah Ramli

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Don't Use Your Credit Card for These 5 Things

While you might be tempted to swipe your card every time you need to pay for something, know that certain costs are better borne with cash or other methods of financing.

Here are five expenses that you might want to refrain from swiping for:

1. Deposit For A Car

This can be a rather costly expense for which to swipe your credit card. If you need two types of financing (credit plus a hire purchase loan) to buy one item, you might want to reconsider the purchase as this could be a sign that you can’t actually afford it. It might be too costly to pay for interests on both sides and you could put yourself in line for more debt.

What you can do instead is look for a zero-down payment loan which exists for many car models. Another option is to check out step-up financing plans that let you pay less now and more later on when your income has increased.

2. Medical Bills

The only good reason to use your card for medical bills is that you’ll have an easily traceable statement come tax time when you want to claim for reliefs. However, medical costs are often heavy, sometimes recurring, and if you don’t repay it on time, can quickly add up. One option besides using a credit card to pay for medical bills is to withdraw from your EPF, this way; you don’t have to worry about the interests accruing.

Also, if you don’t already have some form of medical insurance, it’s best to buy now and save yourself the hassle of paying for healthcare on your own.

3. Home Loans Payments

If you are coming up short on your home loan instalments, you might be tempted to put it on your card (by taking our a cash advance). However, if you are unable to repay the charge before the grace period you will be stuck with not one, but two interest-inducing loans. This could eventually lead to big debt and if you are not careful, it could also leave a black mark on your credit status.

Instead, consider using your EPF to redeem a part of the loan so you downscale the monthly repayments and make it more affordable.

Read Also:
4 Things to Know About EPF Withdrawals

4. Wedding

Who doesn’t dream of a fancy wedding? The costs however, are often a nightmare and while it might seem attractive to pay for it (or parts of it) with your credit card, repayments can be heavy if you don’t keep track of your swipes. Instead of using your credit card, a low-interest personal loan might be a better option to help pay for wedding costs. With small structured repayments at low rates, you’ll enjoy a more affordable method to pay for a big wedding.

What you can use your credit card for instead is to book your honeymoon hotel suite and flight tickets, as well as pay for dining to enjoy potentially better rates, discounts, travel insurance and reward points.

5. Funding Your Small Business

You may have a wonderful small business idea in mind but without the cash to make it happen. Still, using your credit card should only come as a last resort option. This is because if you are not careful with the business expenses you charge to the card, you might rack up a huge bill. Plus, there are plenty of uncertainties that float around a new small business (or any business for that matter) and if you aren’t able to repay the credit in a timely manner, you might end up in debt.

A low-interest business loan or personal loan might be a more cost-efficient option to help run your business, not to mention you’ll have access to a larger sum of money.

Lastly, don’t bother swiping your card with merchants that charge a fee when you use your card. This is usually the case with smaller traders and businesses, so you should think twice before using your credit card at these venues and unnecessarily paying extra. If the item that you are buying is eligible and could benefit from credit card Purchase Protection, look for another merchant that won’t charge for card payments.

On the flipside, some merchants may provide discounts for non-card payments, so do ask before deciding to pay with cash or card.

Looking for a new credit card or just a better one to add your wallet? Head on over to our credit card
credit card comparison
 page to research your heart out and discover the right card for you!

1

1

vote

Article Rating

SHARE

TAGS:

Business Funding

Cars

Finance Management

Home Loans

Medical Bills

Personal Finance

Wedding

About THE AUTHOR

ringgitplus

ringgitplus

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Kiple Alerts Users Of Potential Third-Party Data Breach

Payment service provider Kiple has alerted its users of a potential third-party data breach, which the company said was recently made known to them.

In an email to its users, Kiple said that it is taking precautions and extra efforts to mitigate the situation and to increase security for users’ transactions. “We were told that your Kiple Visa Prepaid Card might have been compromised. Therefore, we are currently engaging data forensic and security experts to conduct investigations which are currently ongoing,” it shared.

Kiple also informed users that they will be contacted if the company finds that they have been affected by the potential data breach. Similarly, if Kiple detects any unusual activities in their accounts during the investigation, they will be contacted too.

The company further reassured that it has put fraud protection technology in place to monitor suspicious activities as well as safeguard users and their transactions.

While Kiple did not mention the source of the breach, it may be potentially related to the
recent cybersecurity incident at iPay88
 – which could have caused customers’ card data to be compromised. Just last week, online payment gateway iPay88 disclosed that it had discovered a cybersecurity incident involving the card data of its users, and had immediately initiated an investigation on 31 May 2022 with the assistance of cybersecurity experts.

iPay88 also said that the containment process was successfully completed, and various new measures and controls to strengthen the system’s security have also been implemented. Meanwhile, investigations are still ongoing, and iPay88 will share more updates in due course as it continues to monitor the situation closely.

(Source:
The Star
)

0

0

votes

Article Rating

SHARE

TAGS:

Cybersecurity

Data Breach

iPay88

Kiple

Kiple E-Wallet

KiplePay

About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


OCBC cardholders get additional 5% off at Big Bad Wolf

Book lover? OCBC cardholder? Great!

Head on down to the Big Bad Wolf Aftermath Sale at the Malaysia International Exhibition & Convention Centre from today till 4 March.

You’ll enjoy
an additional 5% discount on all books when you pay with your OCBC credit card.
 Happy mind-expanding 🙂

0

0

votes

Article Rating

SHARE

About THE AUTHOR

ringgitplus

ringgitplus

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


HSBC credit cards boast amazing rewards

If you’ve been accumulating loads of Rewards Points on your HSBC Credit Card, you should definitely
check out what you can use them on.

Browse through the extensive list of VIP Rewards (for HSBC Premier and Signature card holders) as well as Smart Rewards (for holders of all other card types) and you might just find a great gift for yourself or your loved ones!

All reward items are valid until 31 May, while stocks last. Here are the
terms and conditions
 of the bank’s rewards programme.

0

0

votes

Article Rating

SHARE

About THE AUTHOR

ringgitplus

ringgitplus

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Google Is Reportedly Working On Its Own Smart Debit Card

(Image: TechCrunch)

Google is reportedly in the midst of developing its own smart debit card. Said to be available in both physical and virtual forms, the card is rumoured to offer not only payment functions, but also better security and the ability to track purchases made online and in stores by leveraging on existing Google features.

According to TechCrunch, the card will likely be linked to the existing Google Pay system, which currently serves only online and peer-to-peer payments. With the addition of a physical card, Google hopes to bring its Google Pay system offline, allowing it to be used for payments in physical retail stores. The digital version of the new smart debit card can also be used for Bluetooth/NFC mobile payments, online, and in-app payments.

In terms of security, the new card lets you leverage on existing tools such as Google Maps and Google’s vast database of retailers to help you confirm and track your transactions made through the card. In fact, it is largely similar to the
Apple Card’s leveraging of existing features
 within the ecosystem. In the event of suspicious or unauthorised purchases, you will also be able to quickly reset or block your card using the virtual card number.

(Image: TechCrunch)

It is also claimed that if you lose your physical card, you’ll be able to cancel and request for a new one while continuing to use your virtual card. It appears that you will have some control over the data that you wish to share with merchants and Google as well.

TechCrunch further reported that the debit card will be co-branded between Google and a partner bank. That said, Google has not confirmed any details, although it did name-drop a couple of banks in its statement shared with the website.

“We’re exploring how we can partner with banks and credit unions in the US to offer smart checking accounts through Google Pay, helping their customers benefit from useful insights and budgeting tools, while keeping their money in an FDIC or NCUA-insured account. Our lead partners today are Citi and Stanford Federal Credit Union, and we look forward to sharing more details in the coming months,” said Google.

(Image: TechCrunch)

It is also revealed that the card will run on the Visa network. However, Google could potentially explore other networks like Mastercard if necessary.

This card will be Google’s second attempt at making a card, with its first venture being in 2013. Google had launched the
Google Wallet debit card
 then, but it was
subsequently discontinued in 2016
. Google’s new card also follows in the footsteps of the
Apple Card
 and the
Huawei Card
, although these are both credit cards instead of debit cards.

While Google has not denied that it is possibly working on a smart debit card, it has not confirmed any launch dates either.

(Source:
TechCrunch
,
The Verge
)

0

0

votes

Article Rating

SHARE

TAGS:

Citi

Contactless Payments

Debit Cards

Google

Google Pay

Smart Debit Cards

Stanford Federal Credit Union

TechCrunch

Visa

About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


PNB Declares 4.6 Sen ASB Income Distribution For 2022

(Image: New Straits Times)

Amanah Saham Nasional Bhd (ASNB) has announced an income distribution of 4.6 sen per unit for its Amanah Saham Bumiputera (ASB) flagship fund, for the financial year ending 31 December 2022. On top of that, there is also a special bonus dividend (Bonus Tambahan) of 0.5 sen per unit, for the first 30,000 units held by each unitholder.

In a statement, ASNB explained that the 4.6 sen income distribution is made up of 3.35 sen dividend and 1.25 sen bonus dividend. For comparison, last year’s ASB distribution payout was recorded
at a marginally higher 5 sen per unit
, comprising 4.25 sen dividend and 0.75 sen bonus dividend.

ASNB – which is wholly owned by Permodalan Nasional Bhd (PNB) – also said that the total income distribution for 2022 will come up to RM8.9 billion. The amount is set to benefit 10.6 million ASB unitholders, who hold a total of 186.4 billion units in ASB.

(Image: New Straits Times)

President and group chief executive officer of PNB, Ahmad Zulqarnain Onn highlighted that the fund’s return this year is primarily contributed by local companies, especially those in the financial services, plantation and healthcare sectors. “ASB took advantage of the relatively strong domestic equity market performance in the first half of 2022 to capture gains, rebalance its portfolio and increase its cash holdings,” he elaborated, adding that ASB has managed to outperform its benchmark of Maybank 12-month fixed deposit rate.

Aside from that, Ahmad Zulqarnain also revealed that there was an increase in the number of ASB accounts in 2022, surging by more than 200,000 to 10.6 million accounts. Meanwhile, units in circulation rose by 4.6 billion (2.53%) to 186.4 billion units. “This indicates continued confidence in ASB as an essential savings and investment tool for
bumiputeras
 in their financial planning,” he said.

On a wider scale, Ahmad Zulqarnain shared that PNB’s total assets under management (AUM) for the first 11 months of 2022 saw a hike from RM336.7 billion in 2021 to RM343.1 billion this year. During this same period, units in circulation for ASNB’s series of 17 funds – including the latest to be launched,
ASN Sukuk
 – rose from 276.2 billion units to 283.2 billion units. The number of accountholders also grew from 14.8 million in 2021 to 15.2 million.

(Source:
ASNB
)

0

0

votes

Article Rating

SHARE

TAGS:

Ahmad Zulqarnain Onn

Amanah Saham Bumiputera

Amanah Saham Bumiputera (ASB)

ASB

Income Distribution Payout

Permodalan Nasional Berhad

PNB

About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


BNM Set To Venture Into Central Bank Digital Currencies In Next Few Years

Bank Negara Malaysia (BNM) has revealed that it may make a foray into central bank digital currencies (CBDCs) in the next few years. This is in line with the central bank’s objectives to support Malaysia’s financial development and economic transformation via the recently launched Financial Sector Blueprint 2022-2026.

Speaking to Bernama, the governor of BNM, Tan Sri Nor Shamsiah Mohd Yunus shared that like many central banks across the world, BNM is closely monitoring the opportunities and risks that are available in the digital asset space. “We are also going one step further by experimenting with CBDCs over the next few years. After all, there is no better way to keep pace with something new than to try it ourselves,” she said in an email interview.

Tan Sri Shamsiah cautioned, however, that while the idea of experimenting with CBDCs may be both exciting and promising, BNM wants to ensure that it is not just merely “caught up in all the hype and buzz.”

“Therefore, in our exploratory efforts, we will prioritise use cases that have higher upsides for Malaysia. This is consistent with our approach to digital innovation. We do not promote technology for its own sake. Rather, it must deliver tangible benefits to the economy,” Tan Sri Shamsiah stressed.

Previously, BNM had said that it
does not have any immediate plans to issue any CBDCs
 as the existing monetary and financial policy tools are still effective in safeguarding monetary and financial stability. This was later
reaffirmed by Deputy Finance Minister II, Yamani Hafez Musa
 at the end of last year.

On top of sharing BNM’s plans with regard to CBDCs, Tan Sri Shamsiah also revealed that the central bank is currently in the advanced stage of assessing the applications for its digital banking licences. Additionally, it aims to notify all applicants soon, by the end of March 2022.

“What I can say for now is that the application process is very competitive.
We received 29 applications.
 Alas, we will only be able to license a maximum of five, and so we need to thoroughly evaluate each and every single application,” said Tan Sri Shamsiah. BNM had
opened up applications for five digital banking licences
 back in January 2021. Notable contenders include
Pertama Digital
,
Sunway
,
Grab
,
Axiata-RHB Bank
,
BigPay
, as well as the state government of
Johor
 and
Sarawak
.

Aside from these updates, Tan Sri Shamsiah also shared BNM’s aims and aspirations in various other areas, including the development of more digital-first solutions in financial services as well as the state of cybersecurity in Malaysia. Ultimately, she said that the central bank hopes to provide Malaysians with digital options in finance so that they can enjoy seamless payments and convenience.

“Let me be clear: this is not about forcing customers to go digital. Rather, it is about offering people choices. Physical and hybrid options will still be available. The point is that consumers and businesses who are ready for the technology should be able to benefit from it,” said Tan Sri Shamsiah.

(Sources:
The Sun Daily
,
Financial Sector Blueprint 2022-2026
)

0

0

votes

Article Rating

SHARE

TAGS:

Bank Negara Malaysia

BNM

Central Bank Digital Currencies (CBDCs)

Digital Banking

Digital Banking Licences

Digital Banks

Financial Sector Blueprint 2022-2026

Tan Sri Nor Shamsiah Mohd Yunus

About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Maybankard credit card holders get 6x TreatsPoints at Carrefour

If you’re a Maybankard credit card holder, it’s probably a good idea for you to do your pre-Chinese New Year shopping at Carrefour (which is now known as AEON Big).

From now till 14 February, you’ll
enjoy 6x TreatsPoints when you purchase any appliance items of RM1,000 and above in a single receipt with a 36 months 0% EzyPay Instalment Plan
.

Check out the list of participating outlets
here
.

0

0

votes

Article Rating

SHARE

About THE AUTHOR

ringgitplus

ringgitplus

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Unpaid Credit Card Balances Will Soon Incur Interest On Finance Charges Too

Over the last month, various banks have been announcing changes to their terms and conditions regarding cardholder finance charges. Soon, unpaid balances will accrue interest on finance charges and other fees as well – not just the outstanding balances arising from retail transactions and cash advances.

Although Bank Negara Malaysia has not released any public statements on this, the fact that all the banks are amending their finance charges at the same time strongly suggests that the central bank has made some sort of directive on this.

Previously, interest would only be applied to the unpaid balance that consisted of
retail transactions and cash advances
. Under the new terms, the finance charges will be applied to
all unpaid balances, including finance charges and fees
 (except late payment charges, which is a charge incurred when you fail to pay the minimum monthly payment on time).

So, if you don’t pay up on time, even the interest charges and annual fees will incur interest until full payment is made. That means cardholders who do not pay their statement balance in full will now be paying more in interest charges than they did before.

A sample illustration provided alongside the banks’ announcements.

Below are some of the banks who have announced amendments to their financing charges and when the changes come into effect.

Bank

In effect from

Citibank

27 July

CIMB

1 August

Hong Leong Bank

6 August

RHB

19 August

UOB

19 August

Standard Chartered

23 August

AEON

2 October

Public Bank

2 October

AmBank

2 October

As finance charges are only applied to those who do not pay their full statement balance before the due date, the new charging structure will not affect those who pay their credit card bills in full within the 20-day interest-free period. According to the banks, the change is being made to encourage cardholders to make full payment of their current balances by the due date.

For more information, check your respective bank’s credit cardholder terms and conditions and look for the clauses pertaining to financing charges.

0

0

votes

Article Rating

SHARE

TAGS:

AEON

AmBank

CIMB

Citi

Citibank

Hong Leong Bank

Public Bank

RHB

Standard Chartered

UOB

About THE AUTHOR

Jacie Tan

Jacie Tan

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


6 Things You Didn’t Know About the Malaysian Ringgit

Malaysia Day is upon us, which means there’s no better time to get to know more about our beloved country. And what part of Malaysia does RinggitPlus know best? Her money, of course.

In its relatively brief history as a currency, the ringgit has gone through quite a bit of evolution over the years and we bet there’s a fun fact or six about it that you probably haven’t even heard of…

1. Ringgit Means “Jagged”

Back in the Portuguese colonial era, the type of money widely circulated was the Spanish silver dollar. The craggy and irregular edges of the coin were the distinctive features of this currency, so the Malays of the time would refer to them as “ringgit”, which means “
the jagged ones
“. Now that word is exclusively used to refer to the Malaysian currency.

2. We Sometimes Call it the Dollar Because it Used to be Called the Dollar

If you’ve ever heard someone describe the price of something as “10 dollars” when you know it’s 10 ringgit, you probably think they’re just making a translation mistake. While they might be wrong now, if they had said that before August 1975, they would be correct.

Back in 1967, Malaysia, Brunei Darussalam, and Singapore began issuing their own currencies (all of them called the “dollar”) in place of the Malaya and British Borneo Dollar, which replaced the Malaysian Dollar and Sarawak Dollar back in 1953, which replaced the Straits Dollar back in 1939, which replaced the original Spanish silver dollar back in 1898.

So with this new Malaysian Dollar, Bruneian Dollar, and Singapore Dollar, the three countries decided to sign a
Currency Interchangeability Agreement
 to make their dollars exchangeable at par with each other. However, Malaysia pulled out of the agreement later in 1973. Two years later, the official names of the Malaysian currency became Ringgit and Sen.

Despite this, the RM1 coin issued in 1989 still had the dollar sign ($) on it until 1993. Some changes take a while.

3. You Can Still Use the Old 1 sen Coin As Money

In 2008, a rounding mechanism was introduced where prices of the total bill of any purchase would be rounded to the nearest 5 sen, as a move to eliminate the 1 sen coin from circulation. By this time, the RM1 coin has also been demonetised for three years since we already have the RM1 banknote.

Despite this, if you have these coins in your purse or somewhere around the house, you can still use it as legal tender –
but only for payments up to RM2
. The seller would probably get annoyed and maybe even refuse to accept it though. So maybe it’s best to hold onto them or exchange them at the nearest bank.

4. Our Banknotes Have Had a New Signature On Them For a While Now

(Image: The Star)

If you take a look at the Malaysian Ringgit you have with you right now you should be able to make out the signature of a Bank Negara Malaysia governor. If that signature is that of a “Zeti Aziz”, that’s because she’s a former governor of Bank Negara who served for 16 years. Her term is only the second longest after Tun Ismail Mohd Ali, who served for 18 years from 1962 to 1980. That’s pretty impressive, since the average tenure is just 5 years.

(Image: The Edge Markets)

Tan Sri Zeti Aziz was subsequently replaced by a new governor, Tan Sri Muhammad bin Ibrahim, and new Malaysia Ringgit issued from September 2016 bore his signature. There is very limited supply of those versions of banknotes at the time of writing, so not a lot of people are aware of this. In fact, the supply for these notes is so limited, people are already selling them on eBay for a giant markup. This supply is getting even
more
 limited now since Tan Sri Muhammad bin Ibrahim has already been replaced by Datuk Nor Shamsiah Mohd Yunus in June 2018.

5. The State of Kelantan Wanted to Stop Using the Ringgit

Back in 2006, the Malaysian state of
Kelantan made their own coins out of gold
, stating it’s closer to the practice of the prophet Muhammad and that the current fiat currency has been compromised by
usury and other un-Islamic practices
. These Kelantanese gold coins are called dinars and was implied by the state government that it should replace the use of Malaysian ringgit in the state.

However, Kelantan’s own religious authority
issued a statement
 saying they can’t use the dinars as legal tender as states don’t have the power to make their own currency. Today, you can still find people who hold on to these dinars since they’re made of gold and have an actual value outside of its use as currency. Just don’t try to pay for ice cream with them.

6. The Latest 50 Sen Coin Has a Cool Security Feature

The latest series of coins in circulation were issued back in 2012 and features gold-coloured 50 sen and 20 sen coins. What it also featured was a funky little security feature on it that you probably aren’t aware of. Tilting the coin on its reverse side shows a latent image of the number “50” and the word “sen”. Pretty cool since it’s often banknotes that get these extra security features – now we have it on our coins too.

As it turns out, the history of currency used in Malaysia from RM to Sen can be as rich and as interesting as the history of our food, music, and culture. Who would have thought? So remember, the next time you pull out your Malaysia money, know that you’re holding essential pieces of Malaysian history right in the palm of your hands.

4.1

16

votes

Article Rating

SHARE

TAGS:

Bank Negara Malaysia

Currency Interchangeability Agreement

Ringgit Currency

Tan Sri Muhammad bin Ibrahim

Tan Sri Zeti Aziz

Trivia

Tun Ismail Mohd Ali

About THE AUTHOR

Ahmad Mudhakkir

Ahmad Mudhakkir

See all articles

Comments

 (1)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

1
 Comment

 Inline Feedbacks

View all comments

    Anonymous

    1 year ago

Well described …Thanks for sharing such valuable information.

0

Reply


ABM: Banks Committed To Assisting Customers Affected By Recent Floods

(Image: Associated Press)

The Association of Banks in Malaysia (ABM) has expressed that its member banks are ready and committed to assisting customers who have been impacted by the latest round of floods within the country.

In a statement, ABM said that its member banks have already prepared “specific, accessible, and compassionate flood relief assistance” for their customers, which will be tailored according to each individual’s unique situation and needs. Among other things, the assistance offered include deferment of loan and financing repayments, as well as waiver of fees and charges to replace lost or damaged bank documents and cards.

ABM also urged customers in flood affected areas to refer to their respective banks for announcements on the application process of these relief assistance; each bank will have its own set of procedures and requirements to go through. The banks will also post notifications and announcements of these aids at its branches, in addition to its websites and social media.

“As part of emergency flood preparations to ensure operations remain unaffected, ABM member banks have also implemented various measures to ensure that basic and convenient banking services remain available to flood affected customers. Notices will be put up at affected branches as well as the banks’ websites informing customers of the nearest alternative bank branch to carry out their banking,” ABM further shared.

ABM’s statement came alongside Prime Minister Datuk Seri Anwar Ibrahim’s recent announcement that
Maybank and CIMB Bank
 – as Malaysia’s largest banks – have agreed to offer a moratorium of six months to borrowers who are affected by the floods in Johor. Both banks also said that they will waive penalty charges during the relief period, as well as fees for the replacement of credit and debit cards, and statement requests – among other things.

Datuk Seri Anwar further stated that the government has also reached out to other banks to join the effort in assisting individuals who were impacted by the recent calamity. The flood has affected several states in Malaysia, including Sabah and Sarawak, but Johor was the worst-hit, with more than 40,000 people in the state displaced from their homes during the height of the catastrophe.

(Source:
ABM
)

0

0

votes

Article Rating

SHARE

TAGS:

Association of Banks in Malaysia

Association of Banks in Malaysia (ABM)

Flood

Flood Relief Assistance Programmes

Floods

About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


PM Announces Extended Moratorium & Targeted Bank Assistance For Malaysians

Prime Minister Tan Sri Muhyiddin Yassin has officially revealed the details of the moratorium extension and targeted bank assistance that will take place once the current six-month blanket moratorium ends on 30 September 2020.

According to the Prime Minister, the easing of movement controls has displayed encouraging signs of economic recovery, with more people returning to work. In line with this, some 270,000 borrowers who initially opted for the moratorium have resumed repaying their loans between May to July 2020.

Nonetheless, the income and cashflow challenges remain for others, which was why the Government has opted for a targeted assistance instead of a blanket extension of the moratorium.

Extended moratorium for the unemployed

Individuals who have lost their jobs this year and still have not procured new employment are eligible for an extended targeted moratorium for a period of three months. After these three months, the moratorium may be further extended by the banks depending on the circumstances of each individual at hand.

Reduced instalments for those suffering from salary cuts

Meanwhile, individuals who are still employed but are suffering paycuts due to Covid-19 can have their monthly instalments lowered in line with their reduced salaries. For housing or personal loans, the monthly instalment will be reduced at a rate that is in equal proportion to their salary cut rate. This assistance will be given for at least six months and further extensions may be possible based on the individual’s salary situation at that point in time.

Revised instalment schedules for hire purchase agreements

For hire-purchase loans, the banks will offer the option of rescheduling your monthly instalments as necessary, subject to the Hire Purchase Act. For example, you have the option of extending the repayment tenure of your loan and pay a lower monthly instalment.

Additional repayment flexibility for individuals and SMEs

Tan Sri Muhyiddin also stated that the banks are committed to assisting all individuals and SMEs affected by Covid-19, offering assistance such as:

allowing borrowers to only pay the interest portion of the loan for a specified period of time

lengthening the overall period of the loan as a means to reduce monthly instalments

providing “other forms of flexibility” until the borrower is in a more stable position to resume repayments in full.

In a statement, Bank Negara Malaysia (BNM) urged borrowers who have the means to resume repayments to do so as it will reduce their overall debt and borrowing cost.

Applications for extended moratorium to open from 7 August

According to the prime minister, borrowers who are eligible for these financial aids should contact their respective banks to make the relevant applications starting 7 August 2020.

5

2

votes

Article Rating

SHARE

TAGS:

Bank Moratorium

Extended Moratorium

Moratorium Extension

Prime Minister

Targeted Moratorium

About THE AUTHOR

Jacie Tan

Jacie Tan

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Public Bank Revises Quantum Credit Card 0% Flexipay Plan

Public Bank is revising one of the most popular features of its Quantum Mastercard and Visa credit cards. Effective 1 December 2019, the 12-month Flexipay Plan for the Quantum credit cards will come with a 1% charge for a minimum retail purchase of RM1,200.

Currently, the Quantum-exclusive Flexipay Plan allows any retail purchases made using the either the Quantum Visa or Mastercard above RM1,200 to be converted to a 12-month instalment plan with 0% interest and zero one-time charge.

From 1 December onwards, the Flexipay Plan will have a 1% one-time charge of the converted amount. All other aspects of the Quantum Flexipay Plan will remain the same – the minimum amount remains set at RM1,200, and the maximum amount that can be converted is the card’s credit limit.

It must be noted that the Quantum cards’ Flexipay Plan is not the same as the Flexipay Plan offered by Public Bank (known as PB Flexipay). Despite the similar names, both plans are quite different. The Quantum cards’ Flexipay can only convert retail transactions made using the Quantum Visa or Mastercard, have a fixed 12-month term, and on transactions of at least RM1,200. And, there is no one-time charge for Flexipay conversions made before 1 December 2019; after this date, it will be 1%.

PB Flexipay terms, which are
NOT
 the same as Quantum Flexipay

On the other hand, PB Flexipay offers five instalment terms (6, 9, 12, 24, 36 months), with varying minimum transaction amounts depending on the terms. While there is no interest charged to the converted amount, there is a one-time upfront “interest/management fee” that varies from 1% to 7% that is charged on the total amount converted.

The introduction of a one-time 1% charge to the Quantum Flexipay Plan will be a blow to Quantum cardholders who regularly use this feature to ease cashflow. That said, the possible cashback earned via the Visa and Mastercard variants may help offset this charge if you plan to use Flexipay after 1 December.

This is the second feature revision for the Public Bank Quantum credit cards in two months. In September, the
Quantum cards’ cashback features were revamped
, offering 5% cashback for contactless transactions above RM30 (for Visa) and online transactions with no minimum spend (Mastercard). All in all though, despite these revisions the Public Bank Quantum credit cards are still among the best around when it comes to earning cashback for both online and offline transactions – check out
our review of the cards
 to find out how to maximise monthly cashback from these cards.

(Source:
Public Bank
)

0

0

votes

Article Rating

SHARE

TAGS:

Public Bank

Public Bank Quantum Mastercard

Public Bank Quantum Visa

About THE AUTHOR

Pang Tun Yau

Pang Tun Yau

A seasoned tech journalist who now focuses on his other passion, Pang is a firm believer in old-school DCA and optimised spending.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Al Rajhi Bank Malaysia Launches Digital Bank, Rize

(Image: Digital News Asia)

Al Rajhi Bank Malaysia (ARBM) has launched its digital bank, Rize, to offer a more convenient and seamless end-to-end digital banking experience for its customers.

In a statement, Al Rajhi Bank shared that Rize is already live with a wide range of services made available, with more to be rolled out progressively. At present, customers who use Rize – or Rizers, as they are called – can tap into the following:

Deposits, withdrawals, and transfers

Account management and personal finance management

Debit card application, purchase, and maintenance

ATM services and e-statements

Personal financing

Of note are Rize’s Personal Financing-i and the Rize Savings Pot services, both of which are meant to support ARBM’s customers in their pursuit of their ambitions and financial goals. The Personal Financing-i service is described as a paperless and hassle-free digital financing product that requires the submission of minimal documents. Depending on your qualification, it provides up to RM150,000 financing (up to 8x your salary) with a repayment tenure of 7 years, with the amount to be deposited into your account within 15 minutes once you submit your application.

Meanwhile, the Rize Savings Pot is said to be Malaysia’s only savings pot with a profit rate, allowing Rizers to earn while saving for a financial goal. It also allows multiple contributions, which means that Rizers can invite family and friends to contribute to the pot if they share a common goal, and would like to reach it faster.

Chief executive officer of ARBM, Arsalaan Ahmed said that Rize was conceived as part of the bank’s efforts to become the number one Islamic innovation bank in Malaysia. “When Malaysians become Rizers, they get access to a reimagined banking experience powered by best-in-class technology. All of a Rizer’s banking needs will be made available on their smartphone without the need to go to a physical branch,” he further said.

If you’d like to check out ARBM’s new digital bank, Rize, you can download it from
Google Play
, the
App Store
, and
Huawei AppGallery
.

(Sources:
The Edge Markets
,
Rize
)

4.3

4

votes

Article Rating

SHARE

TAGS:

Al Rajhi Bank

Al Rajhi Bank Malaysia

Arsalaan Ahmed

Digital Banking

Digital Banks

Rize

Rize Personal Financing-i

Rize Savings Pot

About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments