Win The Apple iPad Pro Or Get RM800 TNG eWallet Credit And More

The Unbox This Week credit card campaign is back with exciting gifts to chase your blues away.

For those who are new to this campaign, Unbox This Week is a weekly event where we present to you fantastic weekly flash deals from our featured bank partners. All you need to do is apply for selected credit cards from these banks of the week through RinggitPlus and you’ll take home some great prizes.

From 5 to 12 September, our featured bank partners are

Citibank, HSBC Bank, Standard Chartered Bank, Alliance Bank, and Public Bank
. So, if you’ve considered applying for a credit card with any of these banks, you know what to do to get more out of your application!

Citibank – RM800 TNG eWallet Credit

If you’ve got dollar signs in your eyes, you would surely be glad to know that we’re giving away RM800 TNG eWallet Credit this week, guaranteed to you, when you apply for a Citibank Credit Card. Spend on tolls, parking, items, and more with this practical gift!

Remember to activate and spend a minimum of eight retail transactions on your new card within 60 days upon gaining approval. Once the bank has confirmed your eligibility with us, you’ll receive instructions from us via email on how you can claim your gift.

Take note, though, that current cardmembers and individuals who have cancelled their Citibank credit cards within a year prior to this campaign do not qualify for this promotion. Otherwise, those who wish to apply for their new Citi credit cards can
head on over here to do so
.

HSBC Bank – Apple iPad Pro

Win the Apple iPad Pro when you apply for a HSBC Credit Card this week! Work on your emails, documents, and creative projects on-the-go with the very stunning, sleek-looking iPad Pro.

Otherwise, get a guaranteed RM600 Shopee e-Voucher to spend on myriad items, services, meals and more.

Don’t forget to activate and spend a minimum of RM1,000 on your new card within 60 days upon gaining approval to be eligible for this gift. That said, do note that current cardholders and applicants who were denied within six months prior to this campaign, as well as those who have cancelled their HSBC credit cards within six months prior to this campaign are not eligible for our campaign. Otherwise, you can apply for your HSBC credit card
here
.

Public Bank – JBL Jr310BT Bluetooth Headphone

Enjoy smooth sounds when you’re listening to your music or on a video call with the guaranteed JBL Jr310BT Bluetooth Headphone. With this device, JBL’s legendary sound never exceeds 85dB, making them safe for all ages.

All you need to do is complete your application via the RinggitPlus website, get approved by Public Bank, and make an accumulative spend of RM250 within sixty (60) days of approval to be guaranteed this gift. Apply for your Public Bank credit card
here
.

Standard Chartered Bank – Amazfit T-Rex Pro Smartwatch

Need something to help you stay on top of your fitness game? Take home a guaranteed Amazfit T-Rex Pro Smartwatch when you apply for a Standard Chartered Credit Card.

Brave outdoor adventures with the Amazfit T-Rex Pro Smartwatch that supports four Global Navigation Satellite Systems, a weather tracker, and over 100 different sports modes.

Everyone’s a winner when you apply for selected Standard Chartered credit cards. Just remember, you will need to activate your card within 30 days upon approval to be eligible for this gift. Lastly, be aware that existing cardholders and individuals who have held a Standard Chartered credit card in the past six months are not eligible for this campaign. If you qualify, then you can apply for your new Standard Chartered credit card
here
.

Alliance Bank – Fitbit Versa 2 Or Xiaomi Mi Smart Band 5

Score a guaranteed Fitbit Versa 2 or Xiaomi Mi Band 5 when you apply for a new Alliance Bank Credit Card this week.

The Fitbit Versa 2 is one of your most hardworking fitness buddies with a battery that lasts more than 6 days, and is guaranteed to you when you apply for an Alliance Credit Card with Balance Transfer.

Meanwhile, you will receive the Xiaomi Mi Smart Band 5 that lets you monitor your heart rate, sleep habits, menstrual cycle, stress levels, and more when you apply for an Alliance Credit Card.

Upon approval, you just have to activate and spend to meet the requirements of the campaign and be eligible to get the prize. Existing cardholders of any Alliance Bank credit card and individuals who have held or cancelled an Alliance Bank credit card in the past six months are not eligible for this campaign. Apply for an Alliance Bank Credit Card
here
.

***

Finally, be sure to start your application with our WhatsApp chatbot so that your eligibility is guaranteed, and we can always be at hand to help you when you need us.

While this week’s flash deal ends on 12 September (11am), do follow us on our
Facebook page
 to receive the latest Unbox This Week offers as we refresh the deals every week.

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Chee Jo-Ey

Chee Jo-Ey

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General Insurance Industry Saw A Decline Of 0.8% In 2019

(Image: Berita Harian Online)

The general insurance industry had suffered a decline of 0.8% in 2019 with total gross direct premiums standing at RM17.41 billion, said the General Insurance Association of Malaysia (PIAM). The total gross direct premiums collected in 2018, in contrast, was RM17.92 billion.

Motor continued to top the general insurance industry in 2019 as the largest class, with a share market of 48.3%. It recorded gross direct premiums of RM8.42 billion, which saw a 0.4% drop from 2018. This is in spite of an increase in the sales of new vehicles in 2019, amounting to 604,287 units of total vehicle sales compared to 598,598 units in 2018.

Additionally, 2019 also saw motor insurance recording an underwriting loss of RM335 million, with RM5.48 billion being paid out in motor claims. In other words, RM15 million is being paid out daily for property damage, bodily injuries, and vehicle theft. This is likely due to the high accident and fatality rate in Malaysia.

On the brighter side, the number of stolen vehicles has continued to decrease, declining 21% from 13,581 to 10,729 vehicles for all classes. The downward trend has begun in 2014.

After motor, fire insurance followed as the next largest class, with gross direct premiums of RM3.37 billion. This is a 1.1% increase from 2018.

Marine aviation and transition (MAT) insurance also saw an increase of 5.3%, with gross direct premiums of RM1.35 billion. This is attributed to the recovery of the offshore oil-related sector.

The miscellaneous class – comprising bonds, liabilities, engineering, and workmen’s compensation – in contrast, dipped 2.9% with gross direct premiums at RM2.08 billion.

Medical and health insurance as well as personal accident insurance also saw a decrease of 11.4% at RM1.02 billion and 1.3% at RM1.19 billion, respectively. This is due to an increase in medical claims, which is caused by inflation – among many other reasons – given that Malaysia has one of the highest medical inflation rates in the ASEAN region.

PIAM predicts that the general insurance industry will continue to stagnate in 2020, given the bleak economic outlook for Malaysia in the upcoming year. Not only is the country faced with a challenging operating and business climate, it is also impacted by the effects of the ongoing Covid-19 crisis.

(Source:
The Sun Daily
)

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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.

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Here Are 5 Plus Points Of Staying In Bukit Jalil

Formerly a large rubber plantation in the 1990s, Bukit Jalil has evolved immensely over the years to become one of the most popular places to live amongst Malaysians and the expatriate community. Located in between Sri Petaling and Sri Kembangan, Bukit Jalil is blooming with both residential and commercial developments.

Is it its strategic location? Or possibly because it’s home to a world-class sports complex? In this article, we list out why this suburb is a place where both the young and elderly can call home.

Upcoming Shopping Destination

Residents of Bukit Jalil are spoilt for choice with the abundance of malls. Imagine being a short drive away from popular malls to dine, shop, and be entertained.

Apart from the Bukit Jalil City, Paradigm Garden City Mall, and Aurora Place Bukit Jalil, the recently opened Pavilion Bukit Jalil is set to be the largest lifestyle mall in the South, spanning 5 floors and a total of 1.8 million square feet of retail space. There’s also the newly opened Japan bookstore, Tsuzaya which features over 264,000 books. All combined, shoppers will be able to access popular retail brands, dining experiences, and exciting leisure activities.

Renowned International Schools In KL

As a parent, one of the top priorities is finding a good school for your children. A popular choice amongst parents today is sending their children to an international school. One that has global recognition, established, and provides a balanced approach to learning so that their children will grow up to be well-rounded and successful individuals.

Most international schools are located in Kuala Lumpur, this includes Bukit Jalil. Parents can choose from the Tzu Chi International School and Regent International School. For those looking for tertiary education, the International Medical University and APU – Asia Pacific University are also around the area.

Prime Food Spots

One of the favourite pastimes of Malaysians is eating. Being in an area with delicious and convenient food spots would be an important part of deciding where to live.

Bukit Jalil has a list of cafes, restaurants, and street food that is popular with both locals and expats. Popular spots include Murni Discovery, Peekaboo Cafe, and Shin Zushi.

A Drive Away From Bukit Jalil Stadium

Any sports fan would be ecstatic to live within the area of the world-class multipurpose stadium that hosted the 1998 Commonwealth Games. Seating over 87,411 people, it is the largest in Southeast Asia and is used to host major sporting events and concerts.

Mature & Ever-Abundant Township

Since its decade-long transformation, Bukit Jalil has been a sought-after address for both the young and old. Along with its
low crime rate
, the township is a safe, and secure place to live.

Together with the evolving Sports Hub because of Bukit Jalil Stadium, it’s also home to a jogger’s favourite, the 80-acre Bukit Jalil Recreational Park, and the Berjaya Clubs’ Bukit Jalil Golf and Country Resort, along with various malls.

In terms of accessibility, there’s the Sri Petaling Line, Bukit Jalil LRT station, and Sri Petaling LRT station. Key highways include Damansara–Puchong Expressway (LDP) and Puchong–Sungai Besi Highway, KESAS Highway, Maju Expressway, MEX Highway, and New Pantai Expressway (NPE).

Find Your Place At Residensi Bintang Bukit Jalil

If you’re looking to stay in Bukit Jalil, Residensi Bintang Bukit Jalil is a high-rise residence that was first launched in 2017. Holding a total of 1342 condominium units within its North and South Towers, the residence is beautifully built on a hillside overlooking Kuala Lumpur.

Their range of over 90 facilities is made for everyone; children, adults, and the elderly! Common facilities include a BBQ area, swimming pools, reading rooms, gym and the stargazing deck. Specifically for kids, they have a Hopscotch Soft Zone, Kids Bowling Alley, and Builder’s Playground. For those in their silver years, there’s a Silver Station to safely break a sweat, a reflexology path, and a meditation room.

Units at Residensi Bintang Bukit Jalil range from 2, 3, and 4 bedrooms family-friendly layouts with sizes from 805 sq. ft to 1,710 sq. ft, while penthouse units have up to 4 bedrooms and are of 2,185 sq. ft and 2,259 sq. ft.

Moreover, the residence is connected to multiple highways and is easily accessible to LRT stations, specifically Alam Sutera LRT Station (2km) and Awan Besar LRT Station (5.5km). The Tzu Chi International School is only 50m away, while the Bukit Jalil Recreational Park is 3km away. Malls, schools, and other recreational establishments are conveniently less than 8km away.

***

For those who are looking to have amenities just a drive away, are working within the areas of Bukit Jalil, Cyberjaya, and Putrajaya, or are looking for a place to settle down, Residensi Bintang Bukit Jalil could be your number one choice.

Take advantage of a well-connected residence, an abundance of facilities for your family and friends, spacious yet practical layouts, and more with Residensi Bintang Bukit Jalil.
Register your interest here!

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Katrina Balan Quiroz

Katrina Balan Quiroz

Copywriter. Katrina is fueled by a need to turn a confusing wall of text into something comprehensible, and drip coffee.

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Malaysia Personal Income Tax Guide 2020 (YA 2019)

NOTE:

This is the income tax guide for the year of assessment 2019. If you are filing your taxes in 2021, then head on over to our
income tax guide for YA2020 here
.

Income tax season has arrived in Malaysia, so let’s see how ready you are to file your taxes. Have you gotten your EA form from your employer(s) yet? Do you know how to figure out your income tax rate, add up your tax reliefs, and calculate your tax refund? Have you registered as a taxpayer with LHDN, logged yourself into e-Daftar, and familiarised yourself the right e-Borang to fill? Do you even know what any of these
income tax terms
 mean?

If you’re still in the dark, here’s our complete guide to filing your income taxes in Malaysia 2020 for the year of assessment (YA) 2019.

Who Needs To Pay Income Tax?

Any individual earning more than RM34,000 per annum (or roughly RM2,833.33 per month) after EPF deductions has to register a tax file. You must pay income tax on all types of income, including income from your business or profession, employment, dividends, interest, discounts, rent, royalties, premiums, pensions, annuities, and others.

So for salaried employees, this not only includes your monthly salary, but also things like bonuses, overtime, commissions, and
all other taxable income
. If you’re not sure what counts as income that you have to declare for tax purposes or not, scroll down to our section on stating your income below.

You don’t have to pay taxes in Malaysia if you have been employed in the country for less than 60 days or for income that is earned from outside Malaysia.

Income Taxes in Malaysia For Foreigners

What about foreigners or expatriates who are working and earning income in Malaysia? Any foreigners who have been working in Malaysia for more than 182 days are eligible to be taxed under normal Malaysian income tax laws and rates, just like Malaysian nationals. According to LHDN, foreigners employed in Malaysia must give notice of their chargeability to the Non-Resident Branch or nearest LHDN branch within 2 months of their arrival in Malaysia.

Understanding Tax Rates And Chargeable Income

Here are the income tax rates for personal income tax in Malaysia for YA 2019.

Chargeable Income (RM)

Calculations (RM)

Rate %

Tax (RM)

0 – 5,000

On the first 5,000

0

0

5,001 – 20,000

On the first 5,000

Next 15,000

1

0

150

20,001 – 35,000

On the first 20,000

Next 15,000

3

150

450

35,001 – 50,000

On the first 35,000

Next 15,000

8

600

1,200

50,001 – 70,000

On the first 50,000

Next 20,000

14

1,800

2,800

70,001 – 100,000

On the first 70,000

Next 30,000

21

4,600

6,300

100,001 – 250,000

On the first 100,000

Next 150,000

24

10,900

36,000

250,001 – 400,000

On the first 250,000

Next 150,000

24.5

46,900

36,750

400,001 – 600,000

On the first 400,000

Next 200,000

25

83,650

50,000

600,001 – 1,000,000

On the first 600,000

Next 400,000

26

133,650

104,000

1,000,001 – 2,000,000

On the first 1,000,000

Next 1,000,000

28

237,650

280,000

Exceeding 2,000,000

On First 2,000,000

Next ringgit

30

517,650

………..

For example, let’s say your annual taxable income is RM48,000. Based on this amount, the income tax to pay the government is RM1,640 (at a rate of 8%). However, if you claimed RM13,500 in tax deductions and tax reliefs, your chargeable income would reduce to RM34,500. This would enable you to drop down a tax bracket, lower your tax rate to 3%, and reduce the amount of taxes you are required to pay from RM1,640 to RM585. That’s a difference of RM1,055 in taxes!

Based on this table, there are a few things that you’ll have to understand. First of all, you have to understand what
chargeable income
is. Chargeable income is your taxable income minus any tax deductions and tax relief. It’s very important you know how it works because as you can see, the tax rate you are charged with increases as your chargeable income does. The more you reduce your chargeable income (
through tax reliefs and such
), the lesser your final tax amount will be.

Income Taxes in Malaysia For Non-Residents

You are regarded as a non-resident under Malaysian tax law if you stay in Malaysia for less than 182 days in a year, regardless of nationality. You’ll still need to pay taxes for income earned in Malaysia and will be taxed at a different rate from residents.

Therefore, whether you are a Malaysian or a foreign national, as long as you reside in Malaysia for less than 182 years in a year, any income you earn in Malaysia is taxable under non-resident income tax rates.

Here are the income tax rates for non-residents in Malaysia.

Types of Income

Rate (%)

·      Business, trade or profession

·      Employment

·      Dividends

·      Rent

28

·      Public entertainer

·      Interest

15

·      Royalty

·      Payments for services in connection with the use of property or installation, operation of any plant or machinery purchased from a non-resident

·      Payments for technical advice, assistance, or services rendered in connection with technical management or administration of any scientific, industrial or commercial undertaking, venture, project or scheme

·      Rent or other payments for the use of any movable property

10

The Income Tax Filing Process in Malaysia

Now that you’re up to speed on whether you’re eligible for taxes and how the tax rates work, let’s get down to the business of actually filing your taxes. The
deadline for filing your income tax returns form
 in Malaysia varies according to what type of form you are filing.

For the BE form (resident individuals who do not carry on business), the deadline for filing income tax in Malaysia is 30 April 2020 for manual filing and 15 May 2020 via e-Filing. Meanwhile, for the B form (resident individuals who carry on business) the deadline is 15 July for e-Filing and 30 June for manual filing. You can file your taxes on
ezHASiL on the LHDN website
.

Registering as a first-time taxpayer on e-Daftar

Before you can file your taxes online, there are two things you’ll need to do first: i)
register as a taxpayer on e-Daftar
 to get your income tax number and ii) get your PIN number from the nearest LHDN branch so you can log in to ezHASiL for the first time. If you need help on this, here’s a
step-by-step guide on how to file your taxes for the first time
.

Log in to ezHASiL and access e-Filing

Once you’ve successfully logged into ezHASiL, click on
e-Filing
 to start filling up your Income Tax Return Form (ITRF). Here are the different types of ITRFs depending on how which category you fall under:

Income Tax Return Form (ITRF)

Category

e-B/e-BT

For residents earning income from business/knowledge or expert worker

e-BE

For residents earning income without a business

e-M/e-MT

For non-resident individuals/knowledge workers

Choose the right form and select the year of assessment 2019 (remember, you are declaring your income earned for the year before).

Fill up your income tax return form

Now that you’ve gotten access to the right form, let’s get right down to the bottom of filling it out. You can choose to view your form (and in fact the entire LHDN website) in either English or BM, so language shouldn’t be an issue. Here’s a breakdown of what your BE form for residents earning income without a business will look like.

Individual Particulars

In this section, check to see that your personal details are displayed correctly on the form. Here are a few things to take note of:

Your
type of assessment
depends on how you have decided to file your taxes – whether you’re single, filing together or separately with your spouse, and so on.

Incentive under section 127
refers to the Income Tax Act 1976. It is only applicable to those who have incentives claimable as per government gazette or with a minister’s approval letter.

A TAC which is needed to sign and submit your e-form will be sent to your
handphone number registered to LHDN
, so ensure it is correct.

Your tax refund (if any) will be returned to the
bank account number
 provided.

Disposal of asset under the Real Property Gains Tax Act 1976
 will be relevant to you if you’ve sold any property in the last year.

State Your Income

Under statutory income, fill out all the money you earn from employment, rents, and other sources in the respective boxes. The form will automatically calculate your aggregate income for you. This is where your EA form comes into play as it states your annual income earned from your employer. However, there are several reasons why you shouldn’t accept the annual income stated on your EA form as the final figure for your statutory income from employment.

When it comes to declaring your income, you don’t want to miss out any non-salary related benefits that can count as “income from employment” and may need to be added on to your income figure. Similarly, you wouldn’t want to include any income that is entitled to tax exemptions on your form either.

For example, perquisites (which cover things like parking, medical, and transport allowances) and benefits-in-kind (such as cars, personal drivers, accommodation, and so on) are taxable under law, but the government has provided some tax exemptions for them. If you want to find the answer to whether or not your RM100 monthly travel allowance is tax exempt, check out our article on
tax exemptions.

Once you’ve keyed in all your statutory income, the form will automatically total it up to show your aggregate income. The next step will be to move on to any tax deductions you may be eligible for so you can lessen your aggregate income. For example, you can
make a tax deduction
 from your aggregate income if you have made a contribution of gifts or donations to the government or a government-approved charitable organisation.

At the bottom of this section, you’ll have to key in the total monthly tax deductions (MTD) paid during your year of assessment. MTD or Potongan Cukai Bulan (PCB) is the compulsory mechanism where employers deduct monthly tax payments from a taxable employee’s salary. You can find this amount on your EA form.

Tax Reliefs and Rebates

We’ve already explained how tax reliefs can reduce your chargeable income (and thus your tax rate and tax amount) above. Well, here’s the part of the form where you can go ahead and claim for all the tax reliefs you’re eligible for. The full list of tax reliefs you can claim for is on the
LHDN website
, but you can also refer to our post on
everything you should be claiming for here
 or refer to this infographic below.

Once all your tax reliefs have been claimed, your chargeable income determined, and your tax rate and amount decided, you can claim for any tax rebates you are eligible for. Zakat and fitrah can be claimed as a tax rebate for the actual amount expended up until the total tax amount.

For example, say your employment income is RM50,000 a year and you have claimed RM15,000 in tax reliefs. This would bring your chargeable income down to RM35,000 and the amount of tax you have to pay is RM600. If you have contributed RM400 in the last year on zakat, you can minus that amount from the RM600 and end up with a final tax amount of RM200 to pay.

Besides zakat and fitrah,  you are also eligible for a tax rebate of RM400 for yourself if your chargeable income does not exceed RM35,000. To find out more about the tax rebates that you could be eligible for, you should check our article on it here.

Summary

Now that you’ve reached the summary page, your work is almost done. On this page, you should see the final tax amount displayed. Don’t worry if your tax amount is in the negative, this is due to what you have already paid through MTD – this means you will get a tax refund from the government. If you’re worried that you overlooked something, you can always go back through the form at this stage and amend any details that you may have missed out on; the form will make the necessary changes to the final tax amount automatically as you do so. Once you’re certain your form is free from errors, click “Continue”.

On the declaration page, request a TAC from the number you’ve registered with LHDN and key it in. Next, click the sign and submit button, enter your identification number and password in the pop-up, and press the sign button. Finally, you’re done with filing your income taxes for YA 2019!

Before you exit the website and say goodbye to income taxes for the rest of the year, make sure to save and print the acknowledgement and e-BE form for records purposes.

Amending Your Income Tax Form

Once you’ve submitted your form, you can’t make any further changes to it online via e-Filing. If you wish to make any amendments to your income tax declaration, you need to submit an appeal for amendments on or before 30 April 2020.

Here are the steps that you will need to take:

Print your e-form and make corrections in the wrong space (a brief signature next to the correction). Next, make the tax calculation manually up to the “Tax Paid” level. In the event of any balance due, the balance shall be paid on/before 30 April 2019.

Attach a letter of appeal that explains the changes you wish to make along with a copy of your e-form and all original documents and receipts to confirm income, all claims and tax deductions. Once you have done that, you will need to send it to the branch that you have registered with.

Do note that LHDN will go through each error appeal as a part of the audit process and the time taken for the amendment will depend on the information and documents submitted.

How Do You Pay Your Income Taxes?

Now that you’ve filed your taxes and determined your final tax amount, you’ll find yourself in either one of two situations.

For those subject to MTD, you may find that your final tax amount while filing is lesser compared to what was has been deducted, perhaps thanks to tax reliefs and so on. Thus, you will be eligible for a tax refund from the government. It will be credited to the bank account you’ve provided in your tax form within 30 working days after submission.

On the other hand, if you find after filing that you still owe the government unpaid taxes, you’ll have to pay them before the due date which is 30 April 2020. Here are a few of the ways you can
pay your income taxes in Malaysia
:

Method

Details

Online banking through FPX

Requires a bank account with AffinBank, Alliance Bank, Ambank, Bank Islam, Bank Muamalat, BankRakyat, BSN, CIMB, Citibank, Maybank, OCBC, Public Bank, Deutsche Bank, HLB, HSBC, KFH, RHB, Standard Chartered, or UOB

Online using credit card on ByrHASiL

Visa, Mastercard, American Express accepted

Pos Malaysia

Over the counter (cash only) or online

Via ATM

Only at Public Bank, Maybank, and CIMB

If you pay your taxes late, a penalty of 10% will be imposed on the balance of tax unpaid after the deadline of 30 April 2020. If the tax and penalty is not paid within 60 days, a further penalty of 5% will be imposed on the amount owed.

If you disagree with the late payment penalty, you can forward an appeal in writing to the Collection Unit of LHDN within 30 days of being issued a Notice of Increased Assessment. However, the penalty imposed has to be settled regardless of any appeal – if you are successful, LHDN will refund you the relevant amount.

Appealing Your Income Tax Notice of Assessment

After you file your taxes, there is a possibility that LHDN may serve you a notice of assessment. What is a notice of assessment? It is a written statement by LHDN that states your taxable income, amount of tax due, and so on. If you disagree with the information laid out in this notice of assessment, you can file an income tax appeal – perhaps because personal reliefs have not been appropriately given, you’ve forgotten to claim certain expenses, or an error has been made by the LHDN office.

The appeal must be made within 30 days from the date of notice in writing to the LHDN branch which issued the assessment. You’re required to fill in the Q form, write a letter stating the type of mistakes and clearly specify where they lie, and submit supporting documents for any expenses, deductions, or reliefs claimed. The appeal will be forwarded to the Special Commissioners of Income Tax. Should you have a valid reason for requiring more than 30 days to file an appeal, then the N form is the one you’ll need. Both Q and N forms are available at the LHDN office.

More On Malaysia Income Tax 2020 (YA 2019)

Hopefully, this guide has helped answer your main questions about filing personal income taxes in Malaysia for YA 2019. For more in-depth information about all things
income tax-related
, check out our other articles below:

How To File Your Taxes For The First Time

Everything You Should Claim As Income Tax Relief Malaysia 2020 (YA 2019)

Income Tax Glossary

Understanding Income Tax Reliefs, Rebates, Deductions, And Exemptions In Malaysia

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About THE AUTHOR

Jacie Tan

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    alvin1412

    3 years ago

can i claim for the braces which caused by overbite problem?

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    Jacie Tan

    3 years ago

    Reply to

        alvin1412

It’s unlikely that it would fall under any of the tax relief claims allowed.

0

Reply

    EL

    3 years ago

Hi, what does Membership subscription for Professional Body mean? Does it only apply to medic and legal? What about audit or IT Professional Body like ISACA, CISSP, etc

1

Reply

    Jacie Tan

    3 years ago

    Reply to

        EL

It says that the deduction is allowed for “membership subscription paid to professional bodies to ensure the continuance of a professional standing for practice”. For further clarification, it’s best to email or call LHDN directly to check!

0

Reply

    shaileshkumar shah

    3 years ago

Just want to know two things. 1] Can i get a rebate for Tall Tax paid for official tour ? and 2] Can i get a rebate for badminton shuttle expanses ? if yes than pl guide me under which section ?

0

Reply

    Jacie Tan

    3 years ago

    Reply to

        shaileshkumar shah

Hi there, we’re not very sure what your first query is referring to, so it’s probably best if you contact LHDN directly. As for the shuttlecocks, yes you can claim them as tax relief under “Lifestyle” as they count as sports equipment – just make sure you keep the receipt.

0

Reply

    ash

    3 years ago

Hi, would like to know if buying laptop with an installment plan, can claim for income tax?

0

Reply

    Jacie Tan

    3 years ago

    Reply to

        ash

Yeap, the original invoice should show the full price of your laptop.

0

Reply

    irene ng

    3 years ago

Can I claim my parents cataract operation under parents medical expenses?

1

Reply

    Jacie Tan

    3 years ago

    Reply to

        irene ng

It doesn’t look like it’s covered under what is expressly mentioned in the explanatory notes, but please do check with LHDN directly for confirmation.

0

Reply

    Filzah

    3 years ago

This is so comprehensive and easy to read for me. Thank you Jacie Tan!

0

Reply

    Jacie Tan

    3 years ago

    Reply to

        Filzah

We’re glad it helped! 🙂

0

Reply

    Teoh SG

    3 years ago

Your summary really make my life easier. Great thanks to you !

3

Reply

    Genie Tan

    3 years ago

How do i know which branch should i go if i need to do amendment to my e-filling ? Where to check which brand i registered ?

0

Reply

    Jacie Tan

    3 years ago

    Reply to

        Genie Tan

Best thing to do is to call LHDN and ask! 🙂

0

Reply

    Alan

    3 years ago

If my Unifi bill is under my wife’s name but I’m paying for it, can I still claim it for my personal tax relief under the Lifestyle Tax Relief?

0

Reply

    Jacie Tan

    3 years ago

    Reply to

        Alan

No 🙁 It has to be under your name

0

Reply

    Benjamin

    3 years ago

for the parents reliet, if they have 4 children, one claiming with hospital n med receipts. the other 3 can still divide the remaing 1500/3=500 right?

16

Reply

    Dani

    3 years ago

i had purchased a unit of mobile phone of RM1,200 from a telco thru instalments (24 mths) in May 2019 and i do not have a receipt. How do I proof the purchase to LHDN?

0

Reply

    David Dave

    3 years ago

How about this provision?

Mempunyai akaun kewangan di institusi kewangan di luar negara

If I have a restricted brokerage account in US opened by my company for managing company shares purchase at discounted price, do I need to pick Y?

0

Reply

    Lian Siew Keng

    3 years ago

Dear Sirs,

I hv not receive my EA form for the 2019 income due to MCO the reason given to me.

I retired last April 2019 and my hsehold total income is less RM4,000.

Is my husband entitle for the RM1,600 relief from the goverment ?

14

Reply

    diana

    3 years ago

Hi,

Can you assist me i have a question for regarding EA form Section F , in the Form BE which category under put in?

0

Reply

    Alice

    3 years ago

Hi, would like to know about non-resident tax income. if the person is oversea most of the time but working and getting paid (director fee) for the company in Malaysia, is it still under non-resident tax income?

15

Reply

    Carey Ooi

    3 years ago

Hi would like to know if i work overseas ,how do i declare my income tax details? and do i need to pay income tax? i work in the company is not Malaysian company.

18

Reply

    Michael Hooi

    3 years ago

I am an Australian retiree living in Malaysia under the Malaysia My 2nd Home program. Am I liable to pay Malaysian income tax on bank interest and share dividends earned in Malaysia?

0

Reply

    K Tang

    3 years ago

I was told tax office don’t issue or give out hard copy of Form BE, Is that correct?

How can I get a hard copy of Form BE for manual filing?

Is it compulsory to do e-filing?

0

Reply

    Amanda Jacob

    3 years ago

Jacie Tan you make everything so much better. Thank you!

0

Reply

    merpati

    2 years ago

Hi Jacie may I ask. From what I can see 8% of RM48 000 is RM3 840, which is different from the calculation shown in the example here. Am I missing something?

0

Reply

    sharifah halimah syed ahmad

    2 years ago

I missed filing my income tax return of 2019, appreciate if you can explain how I could do it now.

0

Reply

    Derrick Lau

    2 years ago

Hi, I am currently a third year uni student and recently I have quite a lot of money (>RM100k) from stocks and crypto. Do i have to pay tax in this case?

0

Reply

    Pang Tun Yau

    2 years ago

    Reply to

        Derrick Lau

in Malaysia there are no capital gains tax. but if your income is derived from other bourses it’ll follow the tax laws of that country. for crypto, it’s a pretty grey area. while overall it sounds like you won’t be taxed, it’s best to double check with a tax consultant or a certified financial advisor.

1

Reply

    Jonathan

    2 years ago

could you explain as how is it below 34000 p.a. no need file with reference to the table

0

Reply

    Vivian

    2 years ago

Hi there, do you happen to know if personal training comes under Lifestyle tax relief for sports?

0

Reply

    Alvin

    2 years ago

1.   Is the GKP grant of RM3,000.00 received from LHDN tax exempt or taxable?

2.   If tax exempt, amount credited into the enterprise’s bank and reported as other income, should this amount to be deducted out of the Net Profit in order to arrive at the Adjusted Income?

0

Reply

    Daphne Wong

    1 year ago

My Canadian principal company listed on Canadian stock exchange plans to reward key management in the Malaysia office with share allocation. It is calculated based on our annual earnings. Total amount will be split 75%:25% with 75% paid out as bonus and 25% in allocated to shares with vesting periods. I am clear that 75% when we pay out will be taxable income but what about the 25% that is vested in shares. Is the 25% also taxable?

0

Reply


Maybank Scan & Pay CNY Campaign Offers Up To RM88 Cashback

Maybank is currently running its Scan & Pay Chinese New Year 2021 Promotional Cashback campaign, which lets customers win up to RM88 cashback with a minimum spend of RM30 at more than 250,000 merchants nationwide. Ongoing until 2 March 2021, you will need to make your purchases using the Scan & Pay function on the Maybank2u or MAE by Maybank2u (MAE) app.

Open to all active Maybank2u or MAE customers who have registered to use the Scan & Pay function, you are allowed up to win up to two cashback rewards – valued between RM0 to RM88 – throughout the entire campaign period. The value of the cashback will be determined by a randomiser programme.

Do note that your source of funds for the Scan & Pay function must be set to your Maybank current, savings, or MAE accounts to qualify for this campaign. Additionally, make sure that your Maybank2u and MAE apps are updated to the latest versions as only Scan & Pay transactions performed via the Maybank2u app (vers. 5.6 and above) and MAE app (vers. 0.6.4 and above) are eligible.

If you do win, the cashback will be credited to your current account within seven working days. The total cashback allocated by the bank for this whole campaign is capped at RM1 million.

On top of receiving cashback, customers participating in this campaign will also earn chances to join All Sorts of ONG, although Maybank has yet to reveal specific details about this activity. “You can also earn chances to play All Sorts of ONG and win RM7 million worth of cash and vouchers! Stay tuned,” said the bank in its website.

You can also double the benefits earned by participating in the ongoing
Sama-Sama Lokal MAE-KE IT ONG campaign
 as well. The Sama-Sama Lokal MAE-KE IT ONG campaign lets you enjoy free deliveries worth up to RM20 with no minimum spend when you purchase items at participating Sama-Sama Lokal merchants via the Maybank2u app. That said, you need to make your Sama-Sama Lokal purchases between now until 3 February, with delivery starting from 6 to 8 February. It is also only applicable in Klang Valley and Pahang.

For more information about
Maybank’s Scan & Pay Chinese New Year 2021 Promotional Cashback campaign
, check out the bank’s official website.

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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.

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TM Extends Unifi Mobile "Jasa Pack" Promotion Until 30 June, Now Available For All Federal Government Staff

(Image: Amanz)

Telekom Malaysia (TM) has announced that its Unifi Mobile “Jasa Pack” promotion has been extended to 30 June. In addition, the mobile plan is now available for the staff of all 25 Federal Government Agencies, including the Prime Minister’s Department, the Ministry of Youth and Sports, and the Ministry of Health.

The Unifi Mobile “Jasa Pack” package is available at a discounted rate of only RM59/month, 40% less from the original RM99/month (excluding 6% SST) subscription price. The plan itself offers unlimited data, voice calls, and SMS with no contract. A 10GB LTE hotspot pass is also included in the plan – with additional passes of 1GB available at RM15 and 500MB at RM8.

The plan was initially launched for the
teachers and staff under Ministry of Education (MOE), registered members of the National Union of Teaching Services (NUTP)
, the Malaysian Armed Forces, the Veterans of the Armed Forces Malaysia, and
the Royal Malaysian Police (PDRM)
 as a form of appreciation for their contributions to the country.

On top of the extension, TM has also removed the requirement where customers must be an existing Unifi or Streamyx subscriber to be eligible for the plan, which means that new customers can now just directly apply for it. An upfront payment of RM100 is applicable but will offset the first bill.

Interested civil servants may walk in to all TMpoints nationwide with their MyKad and staff ID stating their permanent status.

For more information, visit the
official Unifi Mobile page
.

(Source:
TM
)

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Hayatun Razak

Hayatun Razak

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Lesser Known Tips for First Time Car Buyers

Proton or Perodua; brand new or pre-loved? It’s pretty exciting to get into choosing your first car but for some it can be pretty nerve wracking. Your first car isn’t going to just be a vehicle that takes you from point A to B; it will be the defining moment that shapes your relationship and viewpoint on cars for years to come.

It doesn’t have to be all that difficult though; here are some tips to help you sail through the process with a great new car in tow.

1. Go in With Eyes Wide Open

You will definitely have a lot of people telling you a lot of things about car buying. Sometimes this is helpful but it can also be confusing and exhausting. Stop for a second and separate the need to know from the fluff.

What do you need to know? You need to know the responsibility you undertake when buying a car (maintaining it, paying for it, caring for it); you need to know the repercussions of defaulting on a loan; and you need to know how much you will be paying, interest and all for the whole affair.

Go in knowing these things and you will be ready for almost anything!

2. Ask the Difficult Questions

Buying a car is a commitment; quite a big financial one at that. The difficult questions involved include:

1)
Can I really afford it?

2)
Should I buy a home first?

3)
Should I buy secondhand or new?

Each question is discussed in length in the articles linked above. In a nutshell, the answers you arrive at will help you make the best decision including whether or not you should buy a car just yet!

3. Understand That it Will Be Expensive

Owning a car is more expensive than taking public transport. Period. If anyone tells you otherwise, it’s a good chance they may not have owned a car or they may only drive it 2km twice a week.

But if you’re not convinced, here is an example of calculations based on this writer’s personal experience:

A) Takes the cab to work everyday for a fare of RM20 per way, which makes it RM40 per day.

40 per day x 20 working days = RM800

B) Driving a Myvi to work everyday, same distance. Monthly car loan repayments amount to RM550, petrol is RM250 per month and parking is RM150.

RM550 + RM250 + RM150 = RM950

These calculations have not considered the further costs of vehicle servicing, road tax and insurance.

Looking at the numbers, it’s a wonder anyone drives! But when you’re at the mercy of cab drivers for everything including emergencies; you’ll see why many people opt for it.

Having a car is convenient and it makes a lot of life’s little errands and responsibilities a lot easier but do remember that it comes with a price.

Undertaking a car purchase means accepting the added expense and deeming it worth the money.

4. Consider Your Car Noob Level

Once you’ve accepted the financial realities, it’s time to decide what kind of car you want! Do you want to buy brand new or would you prefer something cheaper albeit a little older?

In case you have not realised it before, your level of car understanding will play a big part in helping you decide which you should take. It is tempting to take on a secondhand continental car because it looks just so much more impressive than a local hatchback. The price is almost the same so you think – why not?

Buying secondhand cars is not for the faint of heart or the ultimate car noob! If you can’t tell the difference between the automatic transmission and the radiator; we strongly suggest you forego a fixer upper type car (and many affordable, secondhand continental cars are in some way or other, fixer uppers!).

However, if you’re ready to get your hands dirty and learn a thing or two about what’s under your hood, then go for it! Not only will building, fixing, and getting to know your old car give you so much satisfaction – it will save you from being fleeced by rogue mechanics throughout your life!

The bottom line? Are you will to get down and dirty with this machine and get to know it on an intimate level? If not – buy the virginal new car.

5. Loan Shop

If you have decided on the car you want, it’s now the time to get the loan! New cars will have deals with particular financiers so you just have to ask the dealer in question which financier will give you the best deal.

Buying a secondhand car means a bit more shopping around. Interest rates for secondhand cars range from 4.1% – 4.4% but most will be at the 4.3 – 4.4% mark. Do a bit of bank shopping. Call up the hire purchase unit or have your used car dealer do it for you.

If you’d like to do a bit of your own research, check out our
car loan comparison page
 for the most competitive banks.

6. Get to Know Cars!

Or at the very least, get to know your car. There are plenty of car review sites and resources. If you bought your car secondhand without all the thick manuals – it’s still pretty easy to just Google your way to finding out all you need to know about the vehicle you intend to purchase. If you have the manual – do read it!

Why should you know? Knowing your car means knowing what parts need to be replaced when; how often servicing needs to be done; and if any manufacturing problems should be anticipated with your car’s make, model and year. Some car batches have been known to have some kinks so it’s best to be informed.

For example,
Suzuki Malaysia recalled the Swift 1.4 in February 2015
 and urged owners of cars manufactured between March 12, 2012 and October 30, 2014 to have their steering systems checked or replaced for free (a good reason to also know exactly when your car was manufactured – not when it was registered!).

Got the car and loan of your choice? Congratulations! All that is left now is to drive off into the sunset.

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Diana Chai

Diana Chai

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Hann's Thoughts: What's Next For Malaysia's Loan Moratorium?

For the past 3 months, most people in Malaysia (and Malaysian SMEs) who have existing bank loans have been enjoying the
6-month moratorium
 as announced in the government’s Covid-19 Prihatin economic stimulus package. The moratorium brought about widespread relief as the economic effects of Covid-19 saw unprecedented levels of retrenchments, salary cuts, and shutting down of businesses.

In recent weeks, there’s been an increase in the chorus of voices for extending the moratorium period, which was due to end on 30 September 2020. Some opined that it should be extended till the end of the year at least, while others called for potentially even longer deferments.

What was the moratorium for, and is it working?

The various xMCOs (MCO, EMCO, CMCO, and now RMCO) were very
damaging for the economy
 of Malaysia, but the effect was particularly worse for small and medium businesses (SMEs) and households. Why? The fact that Malaysians are staying home and businesses have to adopt crowd-reducing SOPs have already resulted in businesses winding up (especially in the F&B, Tourism and Services sectors), retrenchments, and salary cuts.

(Image: Malay Mail)

To that end, one of the key thrusts of Prihatin was this
6-month automatic loan moratorium
on home loans, personal loans, and hire purchases (i.e. car loans) with banks.

Here are a few statistics to explain why this was done in Malaysia:

Household Debt to GDP
 was at 82.7% and Corporate Debt to GDP was at 99.7% as at end 2019. In itself this doesn’t really mean much other than it being a historically high number, meaning households are more in debt than ever.

Household Median DSR
 (Debt Service Ratio) was at 32.7% as at early 2018. This means that almost a third of income was used to service debt repayments (installments etc.)

Home loans, hire purchases, and personal loans account for 87% of all household debt (the remaining being credit cards and other financing options).

54% of Malaysians
surveyed by RinggitPlus
 in 2019 said they can survive for less than 3 months with only their savings if they had no income.

This was an unprecedented move that was achieved by a combination of the Ministry of Finance (MOF) and Bank Negara Malaysia, but it was easy to see why. With jobs and incomes impacted very suddenly from March onwards due to the various xMCOs, something big needed to be done.

(Image: Malay Mail)

So, now that we’re in the second half of the moratorium, it’s worth checking if the main objectives of the loan moratorium have been met:

RM51.4 billion worth of installments
deferred
 (RM33.4bn Households, RM17.9bn Businesses). That’s RM51.4 billion in the hands of households and businesses rather than the banking system from April to June.

Household
deposit rates have increased by record
 figures of 17% year-on-year for April 2020 – indicating Malaysians are saving up more during this time, which will stand them in good stead when the moratorium eventually ends.

According to
BNM
, Malaysia Bank Non-Performing-Loans (NPLs) have remained steady at 1.6% in May 2020 (close to historical lows) – this increasing was a fear from economists at the start of the MCO as businesses and household had incomes reduced.

From these data points, it does appear that the moratorium had achieved what it was intended for: quite literally preventing a collapse of the economy. Businesses managed to stay afloat, and Malaysians had extra cash on hand to put food on the table even when income streams were affected.

With September looming on the horizon, the question now on everyone’s lips is…

What comes next?

(Image: Malay Mail)

Some
politicians
,
unionists
, and
consumer activists
 and have been asking for an outright automatic extension for a further 3-6 months until December or next year, on the basis that the situation has not changed much from 3 months ago (that is, limited economic activity due to MCOs, particularly hitting tourism and retail hard).

On the other side of the coin, more and more voices in the industry have express doubt that there will be an extension. The consensus from the
majority
 of
bankers
 and even BNM are that if people have issues after September 2020, they should contact their banks for R&R advice.

Unless either the MOF or BNM makes a specific announcement over the next couple of months, the automatic 6-month loan installment moratorium will officially end on 30 September 2020 for home loans, personal loans/financing, and hire purchase loans (i.e. car loans) with banks, and installment repayments will resume from 1 October onwards.

As of today, it appears both parties have not yet settled on a decision if an extension will be made especially given the social and economic implications. Word on the street is that even if an extension is done, it will be a “targeted” one aimed only to those who need it most. (Besides, even for those who can afford to pay their monthly loans, the low-OPR environment means you can’t
“earn” more interest from FDs
than interest accrued from the deferred loans!)

What can you do when the loan moratorium ends? Understanding R&R and how it helps you.

For most people who can manage it, don’t forget to restart your monthly repayments, as missed payments from October for those loans will negatively impact your credit health (and credit score). This will complicate things when you are seeking to apply for another credit product (loans, credit cards, etc) in the next 12 months.

For those who are expecting to struggle to resume their monthly repayments in October, most banks have already started communicating to customers to “speak to their bankers early on and do an R&R exercise”. R&R stands for Rescheduling and Restructuring, which is banker speak for figuring out a way to either reduce or delay your monthly installments (with interest charges of course) to avoid defaulting. Some ways to do “R&R” are:

Extending your existing loan tenure
 and spread out your existing balances over a longer installment period. For example, if you pay RM1,000 in installment per month and have RM12,000 remaining over 12 months, at a 5% interest rate, you could extend this by another year and pay RM525 x 24 months = RM12,600.Note that you will end up paying a little more in total due to accrued interest, but if you foresee struggling to repay that RM1,000 monthly, this is better option than than outright missing payments and affecting your credit standing. Note the calculation here is an indication only (interest treatment is undoubtedly different from bank to bank).

Debt Consolidation
of high- and medium-interest loans into a lower interest (but not necessarily low) loan facility. For example, if you have existing credit card balances (which incurs 15-18% p.a. interest) or personal loans (incurring 7-10% p.a. flat interest), you could discuss with your bank which you have a home loan with to do a home loan top up (at 3-4% p.a. interest currently) and pay off all those debts with a fresh new one at lower interest, reducing monthly installments (and overall interest paid).

Customised Personal Moratorium
 similar to that of the past 6 months, perhaps on a shorter time frame (even 1-2 months), but with accrued/compounded interest on those installment payments. Again, different banks will have different models for this, and will also vary for different customers (based on credit history).

Combination of any of the 3 mechanisms above
. So you could in theory, consolidate, extend and get a moratorium all at one go.

Next week: Why another “automatic” loan moratorium will do more harm than good for Malaysia

All things considered, I firmly believe that there should not be another “automatic” moratorium when the current one ends in September.

There are several reasons behind this, but there are many observations and other factors that indicates it will not be a good idea to extend this loan moratorium, and I will share my thoughts in next week’s column.

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How To Make The Most Of Your First Salaried Job

The Big Picture

As you step out into the ‘real’ world and enter the workforce, you will need to make some pretty serious decisions, especially matters concerning your finances – that’s the price you pay (literally) for wanting your own freedom!

Learning to be self-reliant is fundamental if you ever hope to survive and succeed in our modern world. What’s that? Are you getting nervous? Don’t worry! – we’ve got some tips and tricks to make sure you find the right financial footing.

1. Negotiate a starting salary

Don’t be fearful to negotiate money matters with your prospective employer. If you know what others are getting in your field, know the company culture, and make reasonable requests, you will have an upper hand.

Take note that the
starting salary for fresh graduates
 in Malaysia can range from RM2,000 to a high of RM4,000. What’s important is to leverage on your knowledge of the field you’re in, and take the initiative to show your employer what you can bring to the company.

Finally, once you have gotten everything else out of the way during a job interview, don’t ask for a specific salary, but be flexible and talk in ranges. Considering your skill set and experience, both parties can be sure to settle for an amount they can both agree with.

What else can I say but “May the odds ever be in your favour!”

2. Plan a budget

Are you the type to restrain from spending too much on a cup of designer coffee or a pack of cigarettes, but blow all your money at once on extravagant getaways, car modifications, and the like?

Then the saying “
Penny wise, pound foolish!
” applies to you. This term refers to those who are careful with small amounts of money, but careless with larger amounts – don’t be that kind of person!

Making and maintaining a budget should be a painless process. The key is to keep it simple – it can become overwhelming if it’s too detailed and idealistic. Use a
simple spreadsheet
 with a list of the things you spend on each month, and set a spending target for yourself.

Alternatively, you can use money management applications such as locally made
Saved
 – it is a simple app with a simple interface that tracks your daily spending in each category of your budget.

3. Save, Save, Save!

With new found wealth and freedom comes also the temptation to spend, spend, spend!

But think about this: You can save just RM500 of each monthly paycheque into a
savings account
 earning an interest of 2%. In 10 years, you will accumulate an impressive sum of RM66,420, plus an initial deposit of RM100.

You can then use that mountain of wealth and consider long-term investments, such as a
fixed deposit
 or trust fund. Money kept in the bank can also be used to pay down the
mortgage on your first property
.

Your Employee Provident Fund (EPF) and Social Security (SOCSO) are two important benefits companies will provide full-time workers for their retirement fund and workplace insurance.

4. Manage your education debts

Earning an average of RM2,500,
two thirds of fresh graduates
 spend their hard earned cash on their car and student loans – that would leave you with only RM800 for the remainder of the month, not including bill payments and grocery expenses.

Education loans such as your PTPTN loan requires you to start making repayments as early as 6 months after graduation – good thing you’ve already set up a budget!

It is important to make prompt payments to avoid being blacklisted or else you won’t be able to renew your passport and enjoy that vacation you’ve been saving up for in your slush fund.

Depending on your borrowing amount, your repayment period will look like the table below:

Loan Amount

Repayment Period

RM10,000 and Below

60 Months (5 years)

RM10,001 to RM22,000

120 Months (10 years)

RM22,001 to RM50,000

180 Months (15 years)

Above RM50,001

240 Months (20 years)

Similarly, SPP1M will also require you to start paying 6 months after graduation.

5. Understand taxes

If you earn below RM5,000 you don’t have to worry too much, but it is still important to start understanding how income tax works – you’re a hard worker, you’d be expecting a pay-raise soon?

Basically, the amount that you pay in taxes will be determined by your chargeable income, not your total income. It is calculated using the formula below:

Chargeable Income = Taxable income – Tax exemptions – Tax Reliefs

Once you find out your chargeable income , you will be charged a certain tax rate, ranging from 2% to a maximum of 26%. For first timers, below are the steps you need to complete to successfully file your taxes:

Register PIN number
 – you can apply at your nearest LHDN branch, Income Tax Return Form, or telephone, fax, or mail.

Sign-up for e-Filing
 – visit the
e-Filing site
 to register and obtain a password.

Know which form to fill
 – Borang BE for salaried workers, Borang B for self-employed individuals,and Borang P for partnerships.

Know your exemptions and reliefs
 – did you know you can claim tax relief on all the books you’ve bought?

For more details, Read Savemoney.my’s in-depth
income tax guide
.

Live A Little

While it is all very important to invest in yourself and secure a financial future, do remember to also enjoy the fruits of your labour. Make room for the occasional splurge, but always consider your debts and obligations.

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KPDNHEP To Introduce Special Online Business Licence For Better Scam Protection

(Image: Bernama)

Consumers may soon get better protection from potential online scams or frauds, following a plan by the Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) to introduce a special online business licence for traders.

According to deputy minister Datuk Rosol Wahid, the new licence will see sellers being subjected to certain conditions. In turn, consumers will be able to make online purchases without doubting the legitimacy and reputation of the traders.

“This special online business licence is one of the effective measures to combat scammers, and we will try to enforce this licence immediately,” said Datuk Rosol, although he also clarified that it will only be implemented after the Consumer Protection (Electronic Trade Transactions) Regulations 2012 under the Consumer Protection Act 1999 is amended.

(Image: Free Malaysia Today)

Datuk Rosol also cited data from KPDNHEP, saying that the number of complaints about online transactions in 2020 has shown an
hike from 5,414 complaints in 2019 to 11,510 complaints this year
. He further said that consumers can avoid fraudulent online transactions by checking sellers’ bank account numbers before transferring any money to them.

One avenue that was recommended by Datuk Rosol for the purpose of making such checks is the Royal Malaysia Police Commercial Crime Investigation Department website and app, called
Semak Mule CCID
. He said that consumers will be able to check for sellers’ bank accounts or telephone numbers via this portal.

The deputy minister also highlighted another mobile app called
idenfic
, which was developed by the National Consumer Action Council (MTPN). It allows users to identify and report fraudulent accounts easily.

“The app will record user reports against the scammer’s bank account so that other users can be informed of the case and avoid being scammed through the same account. At the same time, this app will also be able to verify authentic, reliable, and reputable sellers as well as increase the confidence of potential buyers,” said Datuk Rosol.

(Source:
The Edge Market
)

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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.

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Apple To Hike App Store Prices In Multiple Countries Across Asia And Europe, Including Malaysia

Apple has announced that it will be increasing the price of apps and in-app purchases on the App Store in several countries across Asia and Europe, including Malaysia. This revision is set to take effect starting from as early as 5 October 2022, although no exact dates were highlighted for each specific country.

Aside from Malaysia, some other countries that will also be impacted by this price increase include Vietnam, Japan, South Korea, and all territories that use the euro currency (except Montenegro). The percentage of hike will vary across regions; South Korea, for instance, will see a hike of about 20% to 25%, whereas prices in Japan will be raised by 30% to 35% (may vary based on different tiers).

For Malaysia, the new price tiers for App Store are set to begin at RM4.90 for the lowest paid tier (Tier 1), going all the way up to RM4,799.90 for highest tier (Tier 87). Additionally, the alternate Tier A and B will soon be priced at RM0.90 and RM1.90, respectively, while the alternate Tier 1 to Tier 5 will range between RM4.90 to RM23.90. Here’s the full list for your reference:

Auto-renewable subscriptions, on the other hand, will not be affected by the App Store’s price increase. Developers can opt to retain their apps’ current prices for existing subscribers if they wish.

Although Apple did not share specific justifications for the price increase, it is very likely driven by currency fluctuations, caused by inflation and rising energy costs. This is further supported by how the
latest iPhone 14 series
 also has a steeper price as compared to previous years. Apple does clarify, though, that the price hike for Vietnam, specifically, reflects the new regulations for Apple to “collect and remit applicable taxes, being value added tax (VAT) and corporate income tax (CIT) at 5% rates, respectively”.

Meanwhile, previous reports have indicated that
Apple does periodically adjust its prices
 in different regions for currencies and taxes. Last year, for instance, the tech giant reduced starting prices for many apps in euro zone countries from 1.09 euros to 99 euro cents.

(Sources: Apple [
1
,
2
],
The Verge
)

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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.

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DOSM: Income From E-Commerce Transactions Up By 30% In Q1 2021

(Image: The Star/Raja Faisal Hishan)

Income from e-commerce transactions has surged by 30% year-on-year in the first quarter of 2021, the Department of Statistics Malaysia (DOSM) revealed. The amount of income from e-commerce has risen to RM254.6 billion from RM195.9 billion in Q12020.

In 2020, income from e-commerce rose 32.7% to RM896.4 billion compared to the year before. Going further back, the e-commerce income of establishments accelerated by 22.8% in 2019 to RM675.4 billion compared to 2017.

In 2019 in particular, e-commerce income from the local market segment increased by 21.7% to RM591.8 billion while in the international market it increased by 31.9% to RM84.5 billion. Going by types of customers, the figures show that business-to-business (B2B) e-commerce income rose by 13% to RM449.6 billion, business-to-consumer (B2C) increased by 53.3% to RM194 billion, and business-to-government (B2G) grew by 55.7% to RM31.8 billion.

As for e-commerce expenditure, DOSM stated that it recorded an increase of 14.8% to RM301.5 billion. “The local market segment increased 15.3% to RM269.6 billion, while the international market grew 10.8% to RM31.9 billion,” the report said. “Meanwhile, e-commerce expenditure by type of market via B2B rose 14.1% to RM277.6 billion, B2C increased 24.6% to RM14.8 billion, and B2G grew 22.6% to RM9.1 billion.”

DOSM also found that Internet usage has increased by 11.9% to 85.2%. Computer usage increased by 7.3% to 86.2% while web presence showed a 16.1% increase to 53.9%. It was shown that the information and communications sector as well as the financial and takaful/insurance sectors had fully utilised the usage of Internet and computers in their business.

(Source:
The Edge Markets
)

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Easy Payment Plans in Malaysia Explained

What is an Easy Payment Payment Plan?

An Easy Payment Plan or EPP allows you to own that fridge you always wanted without having to pay the whopping RM3,000 price tag that comes along with it. Instead, you have the luxury of spreading the cost of that fridge over the next few months or years at either very low or sometimes 0% interest! EPP is usually offered by most banks’ credit cards with repayment periods typically ranging between 3 and 36 months.

This allows you to buy things with a swipe of your credit card and repay the amount by installments – meaning that you will never have to worry about not being able to settle the full amount owed at the end of the month. Paying your bills late could lead to the bank slamming you with high interest charges (normally 15% to 18% p.a.) on your outstanding balance each month!

You could actually think of EPP as a short term, interest-free personal loan – you can also save the money you would have used upfront to spend by putting it into an interest bearing account.

EPP can actually save you money!

Let’s take a look at an example:

Darren wants to buy a new gaming laptop for himself which will cost him RM5,000 – a little costly for the average joe but hey, he’s a serious gamer! He has several payment options at his disposal:

Cash or Debit Card

If he makes the purchase using cash, he will definitely get the laptop, but a whopping RM5,000 will be deducted from his bank account instantly.

Credit Card

If he makes the purchase by credit card, the result is similar except that he would have to fork out the RM5,000 when he pays his bill at the end of the month.

EPP

Making the purchase by committing to a 0% EPP with a 12-month tenure, will lead to his debt being spread over the 12-month period and Darren will only need to pay RM5,000/12 months =
 RM416.67 monthly.

So instead of paying RM5,000 in one go, Darren can put the excessive cash into a savings account to earn some interest; He can get up to 2% p.a. in interest, and if he’s being clever he can do staggered multiple tenure FD deposits and earn well over 3% p.a. !

Things to be aware of

Let’s take a look at some of the things you should take note of if you’re planning to use a 0% Easy Payment Plan to make a purchase.

Makes sure it really is “0%”

It is actually fairly common for consumers to be charged an extra fee (normally around 3-4%) by the merchant when opting for a 0% Easy Payment Plan. Most will tell you so, however you should make it a point to ask if such a cost exists.

For example, an extra 4% on the RM5,000 laptop would cost you RM300. It is by no means an amount that can simply be “shrugged off” and this in turn defeats the whole purpose of engaging in a 0% interest repayment plan!

Missed or Late Payments

Banks and merchants rarely advertise this about their 0% EPP but if you miss a payment or pay the installment later than the due dates, the bank will cancel the 0%, and charge you with the normal interest similar to the credit cards instead.

You could put yourself in danger of getting into more debt that you can afford. So, before you engage in this easy payment plan, be sure to have a look on the terms and conditions carefully.

Minimum Spending

Most banks have a minimum spending requirement to qualify for their 0% Easy Payment Plan. For example, the
Citibank Flexi Payment Plan
 imposes a minimum spending of RM500 while others like
UOB Instalment Payment Plan
 has a minimum spend of RM1,000 to qualify for an Easy Payment Plan. Be sure to check with the respective banks regarding their minimum spend before swiping for that purchase, or else you may be stuck with a heavy bill to pay at the end of the month should you fall short of the requirement.

Purchase from a participating merchant

Look for stickers or signs on retail outlets indicating that they offer 0% Easy Payment Plans for your credit cards. Alternatively, look up the websites of your banks for the list of participating merchants offering 0% Easy Payment Plans.

Merchant not on the list? Don’t fret, other options are available!

For example, Maybank can loan you the cash you need to make your purchase with their
Ezy Cash Plan
. Similar to an EPP, you are charged 0% Interest for a period of 6-months. However, the drawback is that you have to pay a 3.88% on time cash advance fee at the start.

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Public Bus Terminals To Go Cashless, Accept E-Wallet Payments

(Image: Bernama)

The Ministry of Transport wants all public bus terminals in Malaysia to go cashless. The initiative will be done by implementing a cashless ticket purchasing system using e-wallets.

Transport Minister Anthony Loke said that the move will be carried out in stages as there are still bus terminals which have not yet implemented the centralised ticketing system (CTS).

“If possible, we want all terminals to go cashless,” said Loke. “But we also need to look at the facilities available and condition at the terminal, so those without CTS facility will take more time.”

(Image: The Malay Mail)

According to Loke, bus companies – especially stage bus operators who are subsidy recipients from the government – are required to implement a cashless ticket purchase system. Meanwhile, express companies should be able to go cashless with ease as major bus terminals have already adopted the system.

Loke was speaking at a press conference at the Southern Integrated Terminal (TBS). He was there to monitor the
 balik kampung
 proceedings for Chinese New Year. TBS also began accepting e-wallet payments for ticket purchases on the day of Loke’s visit; the Transport Minister approved of the move, saying that it was in line with his ministry’s focus on the digitalisation of transport services.

(Source:
The Edge Markets
)

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HSBC Visa Signature: No More 5x Points On Transactions For E-Wallets That Allow Cashouts

Effective 12 August 2019, HSBC Visa Signature cardholders will no longer be able to earn Additional Reward Points on transactions for e-wallets that allow cashouts. These transactions will only earn 1x Reward Points instead of the current 5x Reward Points rate offered on all local online spend.

According to HSBC, e-wallets that allow customers to transfer or withdraw money to another account, ATM, or e-wallet will no longer earn the 5x Additional Reward Points rate. Before this change was announced, most e-wallet transactions would have qualified for Additional Reward Points as e-wallet top-ups are classified as online spend. The HSBC Visa Signature offers Additional Reward Points for foreign retail and online spend (8x), local mall spend (5x), and local online spend (5x). All other expenses earn Rewards Points at an ordinary 1x rate.

HSBC lists BigPay and Boost App as examples of e-wallets that allow cashouts and thus will only be eligible for 1 Reward Point for normal transactions. However, topping up e-wallets which can only be used to pay for goods or services such as GrabPay, FavePay, and Touch ’n Go will continue to garner 5x Reward Points for online transactions. (Do note that these examples are not exhaustive and may be subject to change.)

This change is in a similar vein to
Maybank’s announcement
 that all e-wallet reloads using Maybank credit cards will no longer be eligible for cashback and rewards points from 8 July. In comparison, the effect of HSBC’s revision to its terms and conditions is less drastic than Maybank’s blanket ban on all e-wallets. HSBC Visa Signature cardholders who genuinely wish to use their e-wallets just to pay for goods and services can still enjoy the full benefits of topping up using their Visa Signature card.

If you’re on the lookout for other credit cards that offer benefits when you top-up your e-wallet, have a look at our article on
which credit cards to use to reload e-wallets
.

(Source:
HSBC
)

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Alert! Your Online Banking Account Could be Compromised!

Zeus, the Greek king of all Gods, the ruler of sky and weather, is targeting your phones. Internet banking via smartphones is a safe and convenient way go about your business, but a certain virus called the Zeus Malware Family is found its way into your supposedly secure online account.

We kid you not, but allow us explain.

On 25th September 2014 CyberSecurity Malaysia issued an alert to all Maybank2U and CIMB Clicks users on its Facebook page. It seems that a group of hackers are getting really creative and targeting Android users who access to either Maybank2U or CIMB Clicks on their smartphones. According to The Star, at least eight people had lost more than RM59,000 this month to the scam.

But how is this possible?!

Wait, isn’t this a plot from NCIS or the Matrix or some other movie about hacking?

Unfortunately not. The CEO of CyberSecurity Malaysia issued a notification claiming that both of these websites are still safe, but he did urge the users to be extra careful when they are logged in to any online banking page. So how did these sneaky malware gets injected into smartphones?

CyberSecurity Malaysia
 has the answer:

1st step:
 The attacker will infect the victim’s computer with the mighty virus,
Zeus
. When you browse a legitimate online banking website a pop-up may appear. This prompts the victim to choose their mobile phone operating system; they will then be instructed to enter their phone number.

2nd step:
 The attacker will then send an SMS (there are reports that they use other messaging apps like WhatsApp as well) containing the download link to the malicious Zitmo malware. If the victim clicks on the link, the malware will then be installed in the smartphone.

3rd step:
The attacker can then obtain the victim’s login information and perform transactions using the stolen credentials – and yes, they can access the TAC numbers as well.

4th step:
This may or may not be true, but we’re pretty sure that the attacker will then let out a cliché maniacal laugh because he or she has successfully stolen money from an unsuspecting victim.

According to the CyberSecurity website, this mobile malware has been around since 2010, but this is the first where Malaysian online banking users are targeted.

Tips to keep safe when banking online

To prevent this horrific sci-fi story from coming true, make sure that you install a good anti-virus on your computer or laptop and constantly scan the device for viruses or other malwares. Also, stay alert and take precautions with these tips:

• For the time being, use only one computer or laptop to perform all of your online banking activities. The great Yoda would probably advice you to “
get good anti-virus programme, you must
”, so listen to him and protect your device now!

• When accessing to online banking, make sure that there is
NO
 pop-up window that requires you to input any personal information. If there is, log out and call the bank to make a report.

• Don’t leave your desktop or laptop without first logging out of your online banking account.

• Don’t take the phishing bait. Never, ever, respond to any e-mail or advertisements from so-called banks. Also, don’t click on any suspicious links that you’ve received via e-mail, SMS, or any other messaging apps. Curiosity is a great trait to have but for now, let it stay on Mars

• When downloading an app on your smartphone, verify the app’s author and permission before you click “install”.

• Since a mobile website address sometimes appears differently from desktop browsers, make sure to verify it.

Stay safe, folks!

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Malaysian Cabinet Ministers To Take 2-Month Pay Cut For Covid-19 Fund

(Image: Bernama)

The prime minister, ministers, and deputy ministers in the Malaysian Cabinet will be taking a two-month pay cut amidst the ongoing Covid-19 situation in the country. Their salaries will instead be channelled into the national Covid-19 Fund, also known as Tabung Covid-19.

According to the
Prime Minister’s Office
, this move is demonstrative of the government’s determination to help those who have been negatively affected by the Covid-19 pandemic. The decision was made during yesterday’s Cabinet Meeting on 25 March.

The
Covid-19 Fund was launched
 on 11 March as part of the government’s efforts to assist the
rakyat
 who have been directly affected by the virus. As of yesterday, the total amount of donations collected by the fund stands at RM8,493,103.48, inclusive of the government’s initial grant.

Those who are interested in contributing to the Covid-19 fund can send donations to Bank Muamalat account 1601-0001138-71-4.

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How to Never Waste Your Leftovers Ever Again

When we were little our parents would always tell us to finish our food. But the truth is that sometimes we really
can’t
 finish everything on our plate. Whether it’s unexpected portion sizes in restaurants, surprise extra food, or takeaway baggies from a kenduri that our auntie insisted we take home, we will one way or another, end up with leftovers.

Throwing away food sounds harmless enough, right? But once you learn that Malaysians
waste up to 8,000 tonnes of food a day
 (food that could have instead fed six million people), you may start thinking twice about trashing that doggie bag.
Using up leftovers to their full potential
 is not only the mark of a resourceful cook; it can save you a few meal expenses as well. Here are our tips for getting the most out of your leftovers.

Know How to Keep Them

Cooked food spoils at different rates
 compared to just raw ingredients. Therefore, they should be treated differently as well. A good rule of thumb to follow is that cooked food generally last a maximum of four days in an airtight container in the fridge. However, not all food last that long, if it smells funny, doesn’t look right, or acquires a completely different texture even before the four days, throw it out. If you really want to get precise you can use
StillTasty
, a webapp that tells you how long what food lasts and how best to keep them.

If you don’t like worrying about shelf life, you can just cover your leftovers in foil or plastic wrap and stuff them in the freezer. Most foodstuff can last indefinitely in there as long as you keep the temperature below 4°C and your freezer doesn’t suddenly lose power.

Pay Attention to Moisture

Reheated leftovers typically don’t taste right because of the way we reheat them. Microwaved
fried bihun
 for example will come out tough and dry. This happens because while it is in storage, it loses a lot of its moisture by drying. You can prevent the toughness from happening by covering your bowl of bihun (or other leftovers prone to drying out) with a damp paper towel. Reheating will turn the water in the towel into steam and rehydrate the food in the bowl, correcting the moisture content.

In fact, if you really want to reheat things that you know is vulnerable to moisture loss, you can reheat them in a steaming basket instead. Of course, this may be a teenie bit more work than you care to do, but the results cannot be argued with.

Conversely, for leftovers that suffer from
too much
 moisture, it’s possible to revive them by using your oven. Stale crisps, popcorn or banana chips can be spread out onto a rack and heated up in the oven to get them nice and crunchy again.

Reuse Stews and Soups as Flavour Boosters

Often that curry dish or tom yam you made will have all the goodies fished out of them, leaving you with a big pot of tasty liquid leftover. These can be kept frozen in the freezer and used again
when you make your next batch
 of the same thing. As in, you can use frozen tom yam in the new tom yam you’re making to power up the taste.

You can also drop some bits of frozen stew into your stock for example, to up the flavour quotient of the dish. If your leftovers are not enough to do either of those things, you can thicken the mixture with coconut milk or buttermilk and marinate your meats in them. Another way is to mix it with your flour batter for a taste injection into your fried food. Think of frozen liquid leftovers as delicious flavour grenades, ready to go when you need a bit more bang in your bowl.

Stir Fry Your Starches

Having plain rice or noodles as leftovers can be a bit of a drag, since even if you reheat them, they’re depressingly bland on their own. The trick to waking up plain starches is to pair them with your other leftovers. Let’s say you have some roast chicken or other proteins chilling in the fridge. Invite them to the party and fry them along with the rice.

Indeed, fried rice and fried noodles are a great way to use up bits of chicken or beef that’s not enough to make a meal by themselves. Proteins spread out in crispy bits of rice and flavoured with the thawed leftover liquid from before not only makes for a filling meal, it uses up leftovers in a delicious way and is super quick to make as well. Other starches benefit from frying too, such as French fries, potatoes, or any type of pasta.

When In Doubt, Flatten It Out

We’ve dealt with dry food, wet food, proteins, and starches. But what about bread, you ask? The kinds of leftover bread we usually get are things like pizza, sandwiches, or murtabak, right? These kinds of food don’t really lend themselves well to steaming, stir-frying, or a trip to the oven. What you can do instead is press them into hot sandwiches or panini.

If you have a panini press, sandwich toaster, or even a waffle iron, you can place your favourite bread and filling in it and toast away. The heat will gently wake up the filling and crisp up the outside bread as well, giving it a crunchy crust. You can fold up pizzas and hot-press them into makeshift calzones this way too. Yum.

If you don’t have a similar device, you can wrap the sandwich carefully in aluminium foil and use your clothing iron. You’re guaranteed to never throw away your sandwiches ever again.

Having leftovers is a good thing, as it turns out. Sometimes your revitalised creations may even turn out to be better than the something newly made. Do you have any other tips on how to get the best out of your leftovers? Share them with us in the comments section below!

Images via Wikimedia Commons,
Kathleen Franklin
, and
Got Chocolate
.

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Traditional Entrepreneurship vs GetStore Social Entrepreneurship

Some of us have probably been tempted by the idea of starting an online business at some point or another, but never really had the time or resources to make it happen. Sure, the fruits of online success are sweet, but the barriers traditionally associated with running a business can scare off many a potential entrepreneur.

But what if there was a way to get involved in e-commerce without having to worry about things like start-up capital, sourcing, warehousing, and so on? With GetStore, the e-commerce site of GetFi Plus, you can sell products on the GetStore platform without the hassle of starting up your own online store. Here are some of the ways being a GetStore Social Entrepreneur is much easier than building your e-commerce platform on your own.

Product Hunting vs Online Marketplace

Sourcing for and obtaining products to sell are some of the trickiest parts of starting your own e-commerce store. Looking for reliable suppliers can be difficult for new entrepreneurs, not to mention buying and procuring the goods.

GetStore is basically a marketplace of products supplied by GetStore’s partner merchants. All you have to do is go through this online market of over 3,500 items, add the ones you fancy selling to your own store listings, and you’re ready to start selling on GetStore. There’s no physical procuring involved – it’s e-commerce in the most literal sense.

Issues With Logistics vs Hands-Free Approach

Storage and shipping are also big headaches that an entrepreneur would have to face. Unless you deal with lightweight items in small quantities, warehousing is something you’ll need to factor in when running your business. Postage is a whole other nightmare entirely – customers love to complain about delivery fees and slow shipping periods.

When a customer buys from your GetStore, the product is shipped directly by the merchant to your customer. That way, you can run your business on GetStore without having to worry about storage or shipping. Even better, GetStore has a dedicated customer support team to handle all customer concerns, so you don’t need to deal with a barrage of enquiries either!

Traditional Risk vs Zero Start-Up Capital

Of course, a huge part of a budding entrepreneur’s concerns is the money involved. Many young people don’t grab the opportunities of e-commerce because they are put off by the large start-up capital. The risks of business or uncertain profits also deter some from starting their own business.

With GetStore, you decide what profit margin to set for each product in your store, based on the merchant’s retail price. GetStore also has its own integrated payment gateway to provide a safe and secure environment for all store payments. And the best part of it all? You don’t need any start-up capital to begin selling on GetStore – all you need is a GetFi Plus mobile plan subscription and you can start your GetStore for free.

Make GetStore Work For You

With all of the heavy lifting being done for you, your part is to promote your GetStore effectively so that people will buy from it. Each GetStore Social Entrepreneur has their own individual store link, which you can then share to your family, friends, and social media to increase your store’s exposure. So, don’t worry about your side hustle getting in the way of your other commitments – actively sharing your link is all the work you need to do for your GetStore!

As GetStore is a product that comes free with your GetFi Plus membership, this is an easy way to earn extra cash at zero risk and no extra cost. Like any other prepaid mobile plan, GetFi Plus offers mobile data, voice calls, and SMS – with special features such as GetPoints and non-expiry data in addition to access to GetStore.

You can choose between one of three GetFi Plus plans to find the right plan for you, starting from as low as RM39 per month. Depending on which GetFi Plus plan you’re on, you are allocated a set number of product listing slots for your GetStore.

To find out more about GetStore and GetFi Plus, you can
check out the GetFi website here
.

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HLB Raya Campaign Offers 20% Rebate For Selected Weekend Purchases

Between today until 30 May 2021, Hong Leong Bank (HLB) will be running its Hari Raya Online Weekend Special campaign, where credit cardholders can earn a 20% rebate when they make online purchases from featured brands with their credit cards during weekends. Even better, you do not need to fulfil any minimum spending requirement to be eligible for this promotion.

The campaign is open to all new and existing HLB Visa credit cardholders, enabling them to earn rewards according to the following schedule:

Weekend

Theme

Featured Brands

10 – 11 April 2021

Online Grocery Weekend

Online grocery stores

17 – 18 April 2021

Lazada Weekend

Lazada (except Lazada Wallet)

24 – 25 April 2021

Fashion Weekend

Adidas, Cotton On, JD Sports, Love Bonito, Mango, Uniqlo, Nike, Padini, Puma, Zalora, Zara

1 – 2 May 2021

May Day Weekend

All online transactions (except e-wallet reloads)

8 – 9 May 2021

Health & Beauty Weekend

Althea, Amway, Atomy, Caring Pharmacy, Guardian, Hermo, Kiehl’s, Mary Kay Cosmetics, Nu Skin, Sephora, Watsons

15 – 16 May 2021

Shopee Weekend

Shopee (except ShopeePay)

22 – 23 May 2021

Fast Food Weekend

Domino’s, KFC, McDonald’s, Pizza Hut

29 – 30 May 2021

Food Delivery Weekend

AirAsia Food, Aliments, FoodPanda, Grabfood, POP Meals

Each cardholder will be allowed to earn a maximum rebate of RM15 each weekend, regardless of the number of transactions performed. In total, you’ll be able to receive RM120 worth of discount across the entire campaign (8 weeks). The bank has allocated RM300,000 for each weekend, and the discount will be awarded on a first-come first-served basis.

Note as well that these discounts will only be awarded for online retail purchases and payments; e-wallet top-ups of any kind (including Lazada Wallet and ShopeePay) do not count as eligible transactions. Lastly, those who earned the rebates will receive their rewards within 10 working days after the end of each weekend.

You can find out more about HLB’s
Hari Raya Online Weekend Special campaign
 on the bank’s website.

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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.

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