The Star: Avoiding Mistakes When Filing Your Taxes

In this article, Kimberly provides some insight into tax filing and the common mistakes people tend to make. She states that those with chargeable income from employment of RM2,833 and above per month or an annual income above RM34,000 with monthly tax deductions should file for tax and are eligible for tax reliefs.

There are differences between tax rebates, reliefs and deductions. Kimberly briefly explains tax reliefs and provides examples.

She points out that common mistakes people make when filing taxes are to fill in the maximum amount in the tax relief section without actually spending. Providing incorrect information can lead to penalties or fines.

Another common mistake is to intentionally maximise tax reliefs unnecessarily, as tax reliefs are only worthwhile for regular expenses. Spending more just to claim tax reliefs is not advisable as that amount could be used on something more important to you or kept as savings. Kimberly offers further explanation for this in the article.

This article can be found online here.