Tax & Online Income

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It’s April and that indicates that it’s time to pay tax (for Malaysians). Earlier, I thought I have made a post related to paying tax. After searching for a while, I could not find that post. Then I realized, I did not make such post, instead I was commenting about tax, specifically about online income tax, in budeen’s report. I did received some response on whether we should pay or ignore paying tax from online income. Take note that I’m just a part time blogger and my online income earning is not that high. It’s enough to supplement some of the household groceries. I concluded that I’m not going to declare anything I earned online because the percentage is too small compared to my monthly earned salary.

Then, I read LiewCF post on Malaysians, Your Blogging Income is Taxable. This is interesting. I mean paying tax for your blogging income. For me, if one is a profesional blogger or not but earn substantial income online, then he or she must pay tax.

It was also interesting to learn that there are several tax deductions for probloggers. The 46 Tax Deduction that bloggers overlook revealed all type of expanses that we can consider to reduce our online taxable income. You’ll be amazed on how the activities and the things that are accountable and qualify for tax deduction. It made me realized that I haven’t kept such a proper documentation of all my online activities. I should keep a decent record of my online activities, resits, bills, etc.

For me, it’s better to pay tax for your online income rather than not qualifying to pay tax. Paying tax illustrates that we are earning good income while inability to pay signify that we are not earning enough yet. Do you agree with me? 🙂

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13 Responses

  1. eyeman says:

    its good. But all of us know not many people do that.

  2. cyza says:

    Yep, but for Muslim, it’s better to zakat the income. Ain’t it?

  3. budeen says:

    i’m slightly disagree with the last statement. billionnaires & millionaires makes a lot but end up paying nothing. they know how to manipulate to law..

  4. cyza says:

    Budeen,

    You are right on that. Majority of them will manipulate the figures. They should have what we call integrity.

  5. samdaddycool says:

    I’ m broke… nothing to declare..

  6. cyza says:

    I thought you mentioned earlier you want to perform Hajj next year. You should have lots and lots of money to spare.

  7. samdaddycool says:

    Thats my dream… at the moment, just recover from dropped biz…

  8. cyza says:

    OK then, hopefully your ebay power seller status will later provide you a boost or turbo in sales.

  9. samdaddycool says:

    Thanks for the wish

  10. itisrajah says:

    yes,i agree with you.
    *clueless*
    haha.

  11. cyza says:

    You’re welcome.. 🙂

  12. cyza says:

    Clueless?!!

  13. itisrajah says:

    haha.
    ya la.
    because i don’t know anything about tax.
    huhu.

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