Lowyat.NET: Latest topics by ZeTaBYTeS

Is Salary In-Lieu Claim Taxable/EPF-Deductible?

ZeTaBYTeS — Thu, 23 Aug 2012 13:38:18 +0800

Need HR and tax expert advice on this situation (person and company are fiction):

Johnny got a job offer from Apple on 1 Feb 2012 and is required to report for duty on 1 Mar 2012. Unfortunately, his current employment at Microsoft requires him to give a 3-month resignation notice. He tendered his resignation at Microsoft on 1 Feb 2012 with 1-month notice and 2-month salary in-lieu.

Apple told Johnny to pay the 2-month salary in-lieu first to Microsoft and it will be reimbursed into his first salary later.

When Johnny got his first salary at Apple on 31 Mar 2012, he was shocked to find out that the salary in-lieu got taxed and deducted for EPF, and termed as “allowance” in the salary slip. The tax amount was significant as the tax bracket was based on 3-month salary (1-month at Apple and 2-month salary in-lieu at Microsoft).

My understanding is, salary in-lieu should be treated as “claim” (not taxable and not entitled for EPF) rather than “allowance” (taxable and entitled for EPF). Is there a clause in the tax regulation that Johnny can use to present his case to Apple and have the salary in-lieu treated as “claim” – not taxable and not deducted for EPF?

Imagine if Apple were to pay Microsoft directly the 2-month salary in-lieu in favour of Johnny – it will not have any tax or EPF implication, right?

Is Digital Book/Magazine Tax Deductible?

ZeTaBYTeS — Sun, 15 Apr 2012 13:49:24 +0800

Is digital book/magazine tax deductible? Such as those bought/subscribed from Apple App Store for iBook app and Newsstand app for iPad.

Is Digital Book/Magazine Tax Deductible?

ZeTaBYTeS — Sat, 14 Apr 2012 18:50:45 +0800

Just got myself the new iPad. Wanted to purchase some books for iBook app and magazines for Newsstand app. Is digital book and magazine tax deductible? If so, how do I get official receipt on the purchase and/or subscription?

Google Chrome Frame For Internet Explorer?

ZeTaBYTeS — Sun, 24 Jan 2010 02:28:52 +0800

I just came across a few articles on Google Chrome Frame for Internet Explorer and was wondering if anyone has tried it yet. It claims to render JavaScript 10x faster and fully supports HTML5. This is one of the cool things that HTML5 can do to a browser. Also, YouTube plans to support HTML5 soon to render all their (h.264) videos and this translate to way less overhead when compared to the CPU-hungry Flash plug-in (goodbye Flash videos!).

The plug-in switches Internet Explorer's Trident engine to WebKit on-the-fly when required. Wanted to give it a shot but then I have second thoughts now after reading the following articles. I'm concern about security, exploits and the so-called method of running a browser-in-a-browser.

Any comments and/or experiences on using Google Chrome Frame?

Depreciation Rate/Value for Vehicle?

ZeTaBYTeS — Thu, 13 Nov 2008 16:04:42 +0800

Here's the scenario: The company that I worked for entitles me a company car. I proposed that instead of purchasing a used car for me, the company can opt to provide me with a down payment for a new car (monthly repayment will be at my expense). And of course, I would have to pay back the down payment should I leave the company.

Question is, how do I calculate the amount to be paid back? Have to take into consideration of depreciation of the vehicle's value, right? Based on the new car value or the used car value that was supposed to be purchased? Any formula or rule of thumb to go about it? Say RM10,000 down payment and leaving in 3 years, 5 years, etc.