Anything won or inherited need not be declared to IRB

BY SHANTINI SUNTHARAJAH
The Sunday Star

KUALA LUMPUR: Everyone hopes to win RM1mil in a lottery or big cash prizes in a contest.

But how many stop to think if the taxman has the right to claim a piece of the pie?

According to a tax consultant here, only money considered as income earned is taxable.

Cash won in newspaper contests, TV game shows and other competitions are categorised as capital or windfall gain and need not be declared in a person’s income tax return form.

“In Malaysia, only income earned is taxed unlike in other countries such as the United States or Britain,” said the consultant.

“Anything you get through inheritance, luck or chance is considered a windfall or capital gain and is not taxable.”

The consultant said that while one might choose to declare cash or prizes won in a contest, those who didn't do so weren't committing a punishable offence.

“Even if you do declare your prize, a conscientious tax officer at the Inland Revenue Board would tell you that it is not necessary,” he said.

The consultant also said that Malaysian professional athletes who were awarded big cash prizes, apartments or cars for their achievements were also exempted from paying income tax on them.

The same applies for those who hold winning 3-D or 4-D tickets bought from legalised gaming outfits.

A representative of the Malaysian Institute of Taxation said that lottery winnings were generally not subjected to tax as they were considered as windfall gains.

New RM2m attraction at Penang Kek Lok Si

PENANG: The 115-year-old Kek Lok Si Temple in Air Itam here now boasts a new attraction – the RM2mil Chun Thee Bodhisattva Hall.

Situated next to the Kuan Yin (Goddess of Mercy) statue com- plex, the hall was opened yester-day. More than 1,000 devotees and about 80 monks from China, Taiwan, Hong Kong, Indonesia and Malaysia attended the cere-mony.

The hall features a wooden Chun Thee Bodhisattva (18-arm Buddha Bhagavati) statue carved in China.

Read more: New RM2m attraction at Penang Kek Lok Si...The Star>

Merry Christmas Everyone!

Easy step to amend religion in MyKad

If you are one of those affected by the predicament of having
your religion wrongly stated on your My Kad, it is now an easy
step to amend it.

Just fill up a Form A.

Find out more: Easy step to amend religion in MyKad...The Star

Sex education in schools

Guidelines on sex education finalised

BY SIMRIT KAUR
The Star

PUTRAJAYA: Contraception, HIV/AIDS, abortion, masturbation and sexually-transmitted diseases are just some of the issues addressed in the national guidelines on sexuality education.

The guidelines have been finalised and will be submitted to the Cabinet for approval by next month.

Covering six components – human development, relationships, marriage and family, interpersonal skills, sexual health and behaviour, and society and culture – the guidelines are age specific and meant for preschoolers to adults.

Read more: Guidelines on sex education finalised...The Star

Flood fury

The yearly monsoon season is anticipated with much fearful
apprehension as it normally comes with hardship and loss to
man and property as a result of flooding. This year, it is
no different.

From news reports today, the flood situation in the northern states seems to be worsening.

Hope the situation improves fast so that people can get back
to their normal life with Christmas barely a week away, school
reopening in two weeks and the Chinese New Year fast approaching
in late January. The cleanup will take much effort. Be strong, people.




UNDER WATER: Aerial view of a partially submerged Jitra and its surrounding areas in Kedah on Monday. - Bernamapic