Group Assignment by Pei Xuan Lai https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d en-us 2022-10-27 10:55:49 UTC 2026-01-16 04:52:25 UTC hello@padlet.com Tax difference between Malaysia and Australia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358870158 2022-10-27 10:59:42 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358870158 4. Tax Rates peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358874174 2022-10-27 11:03:52 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358874174 A. Personal Income Taxes peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358880759 2022-10-27 11:10:39 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358880759 Malaysia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358881222 Resident : 0% - 30%
Non- Resident : 30% on total taxable income


]]> 2022-10-27 11:11:09 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358881222 Australia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358888804 Resident : 0% -45%
Non- Resident : refer to the linking figure

]]> 2022-10-27 11:19:20 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358888804 Resident Tax Rates peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358889577 2022-10-27 11:20:13 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358889577 Non-Resident Tax Rates peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358890206 2022-10-27 11:20:54 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358890206 B. Corporation Income Taxes peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358892105 2022-10-27 11:23:02 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358892105 Malaysia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358893270 The standard corporate income tax rate is 24%.]]> 2022-10-27 11:24:10 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358893270 Australia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358894016 All companies are subject to 30% tax rate, except for "small or medium business" which are subject to 25% reduced tax rate]]> 2022-10-27 11:24:59 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358894016 Other Corporate Income Tax peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358894769 2022-10-27 11:25:44 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358894769 Special one-off tax in Year 2022 peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358896026 2022-10-27 11:27:03 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358896026 C. Goods and Services Taxes peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358903762 2022-10-27 11:35:11 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358903762 Australia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358904687 GST Tax : 10% on most goods and services sales, with some exemptions
For example: certain food, healthcare, and housing items and concessions (including qualified long-term housing, which is taxed at a 5.5 percent effective rate)]]> 2022-10-27 11:36:12 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358904687 Malaysia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358905245 Sales Tax: 10% for all taxable goods produced and imported into Malaysia.
For example: Cosmetics, perfume and Furniture.

Service Tax: 6% for all taxable service. When the services are imported or exported are exempted from service tax.
For example: Legal services, Food and beverage and night club.]]> 2022-10-27 11:36:47 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358905245 3. Withholding Tax peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358910723 2022-10-27 11:41:52 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358910723 Malaysia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358913048 Interest : 15%
Royalties : 10%]]> 2022-10-27 11:43:54 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358913048 Australia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358918722 Interest : generally limited to 10% , a 5% rate applies to interest payable
Royalties : Australia : 30%]]> 2022-10-27 11:49:05 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358918722 5. Other Tax peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358926847 2022-10-27 11:55:50 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358926847 D. Custom Duty peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358944103 2022-10-27 12:10:17 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358944103 Malaysia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358944697 If the full value of the items is over 500 MYR, the import tax on a shipment will be 10%]]> 2022-10-27 12:10:47 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358944697 Australia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358946592 Imports into Australia are subject to duties under the Australian Customs Tariff unless an exemption applies. The top duty rate is 5%.]]> 2022-10-27 12:12:07 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358946592 C. Dividends peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358947045 2022-10-27 12:12:28 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358947045 Malaysia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358947327 0%,10% for REITs]]> 2022-10-27 12:12:42 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358947327 Australia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358947735 15% on unfranked dividends, 0% on franked dividends]]> 2022-10-27 12:13:00 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358947735 B. Excise Duties peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358948108 2022-10-27 12:13:17 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358948108 Malaysia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358948498 The rate of excise duties vary from a composite rate of MYR 1.10 per liter and 15% of the value for certain types of spirituous beverages, to as much as 105% of the value of motorcars (depending on engine capacity).]]> 2022-10-27 12:13:34 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358948498 Australia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358949014 Excise rates for tobacco and alcohol are indexed biannually based on movements in the consumer price index (CPI). Some examples of current excise rates include:
  • Beer not exceeding 3% by volume of alcohol packaged in an individual container not exceeding 48 litres: AUD 46.02 per litre of alcohol calculated on that alcohol content by which the percentage by volume of alcohol of the goods exceeds 1.15.
  • Tobacco in stick form not exceeding in weight 0.8 grams per stick actual tobacco content: AUD 1.12688 per stick.

]]> 2022-10-27 12:13:57 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358949014 A. Stamp Duty peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358955909 2022-10-27 12:19:21 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358955909 Malaysia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358956410 2022-10-27 12:19:46 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358956410 Australia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358956938 There are different Stamp duty rates in different regions of Australia.]]> 2022-10-27 12:20:11 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358956938 Victoria (Melbourne) peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358958034 2022-10-27 12:21:05 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358958034 Australian Capital Territory (Canberra) peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358959895 2022-10-27 12:22:33 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358959895 New South Wales (Sydney) peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358960529 2022-10-27 12:23:05 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358960529 Western Australia (Perth) peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358961354 2022-10-27 12:23:44 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358961354 Queensland (Brisbane) peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358963835 2022-10-27 12:25:37 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2358963835 1. Capital Allowance peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2359065196 2022-10-27 13:29:17 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2359065196 Malaysia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2359066777 2022-10-27 13:30:14 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2359066777 Australia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2359068875 Luxury vehicle cost limit applies to the depreciation cost of certain passenger vehicles (AUD 64,741) cost limit.

Expenditures for in-house software development are written off over five years (30% for the second, third and fourth years, and 10% for the fifth year.

Capital expenditures incurred after September 15, 1987 on the construction or improvement of non-residential buildings that generate taxable income are amortized over 40 years at a rate of 2.5% per annum.

Capital expenditures on buildings used for short-term traveler accommodation (e.g. hotels, motels) and industrial buildings (usually factories) are amortized over 25 years at the rate of 4% per annum for construction started after February 26, 1992.

Eligible Costs Construction work commenced between August 21, 1984 and September 16, 1987 (or contracted before September 16, 1987) is amortized at 4% per annum over 25 years.

The amortization amount is not recovered when the building is sold, unless the expense was incurred after May 13, 1997.

The cost of income-generating structural improvements constructed after February 26, 1992 is tax deductible at a rate of 2.5% per annum.

Immediate 100% deduction of the following expenditures: environmental protection activities, disposal of pollution and waste; land care operations; exploration or exploration of minerals, mine rehabilitation; primary producers on pens, water supply facilities and feed storage assets used to store grain and other animal feed capital expenditure incurred.]]> 2022-10-27 13:31:31 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2359068875 2. Allowable Expenses peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2359074099 2022-10-27 13:34:34 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2359074099 Malaysia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2359076524 - Car and household items provided by the employer
- Rent-free accommodation provided by the employer
- Leave passage for travel for employee and immediate family
- Benefits and monthly bills for fixed line telephones, mobile phones, broadband subscriptions- Medicine and maternity 
- Child-care benefit; Child-care centres provided by employers
- Food & drink provided by the employer]]> 2022-10-27 13:36:04 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2359076524 Australia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2359078270 Work-Related Expenses
Example: Motor vehicle and car expenses, travel expenses, clothing, laundry and dry-cleaning expenses, self-education expenses

Other Work-Related Expenses
Example: Working from home expenses, COVID-19 test expenses, phone, data and internet expenses, tools, equipment and other assets, union fees, subscriptions to associations and bargaining agents fees

Other expenses
Example: Cost of managing tax affairs, gifts and donations, interest, dividend and other investment income deductions
]]> 2022-10-27 13:37:10 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2359078270 peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2359109524 2022-10-27 13:55:00 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2359109524 peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2359118714 2022-10-27 14:00:23 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2359118714 B. Employement peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2367749254 2022-11-03 03:28:09 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2367749254 A. Personal peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2367754292 2022-11-03 03:32:30 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2367754292 Malaysia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2367757705 - Personal allowance of RM 9,000 for each taxpayer
- Alllowances for RM8,000 of medical expenses for serious disease for self, spouse or child 
- Allowance for RM2,000 each child below 18 years of age 
- Allowances of RM8,000 if child over 18 years old who is receiving full-time instruction at an establishment of higher education in Malaysia (diploma level or above) or outside Malaysia (degree level and above) or serving under article of indentures in a trade or profession. ]]> 2022-11-03 03:35:17 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2367757705 Australia peixuanlai01 https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2367813354 - Transportation tax credit EUR400
- 494EUR for Sole wage earners, single taxpayers, and sole earners of unmarried couples with one child 
- 669（EUR for Sole wage earners, single taxpayers, and sole earners of unmarried couples with two children
- For each additional child add EUR220 
- Income limit for spouse (sole earners): EUR6,000 per year
 Child alimony tax credit:   
1) For the first dependent child per month: EUR29.20
2) For the second dependent child per month: EUR43.80
3) For each additional dependent child per month: EUR 58.40
* If children live in other EU countries, the amount is subject to indexation 
]]> 2022-11-03 04:29:44 UTC https://padlet.com/peixuanlai01/nqrgfb8mcjwug67d/wish/2367813354