Income Tax (Special Treatment on Interest on Housing Loan) Regulations 2009
In exercise of the powers conferred by subsection 36(1) of the Income Tax Act 1967 [Act 53], the Director General makes the following regulations:
Citation and commencement
1. (1) These regulations may be cited as the Income Tax (Special Treatment on Interest on Housing Loan) Regulations 2009.
(2) These Regulations have effect for the year of assessment 2009 and subsequent years of assessment.
Application
2. (1) These Regulations apply to the following banks and financial institutions:
(a) a bank or finance company licensed or deemed to be licensed under the Banking and Financial Institutions Act 1989 [Act 372];
(b) a bank licensed under the Islamic Banking Act 1983 [Act 276]; and
(c) a development financial institution prescribed under the Development Financial Institutions Act 2002 [Act 618].
(2) Notwithstanding subregulation (1), the Minister may approve any other institutions to which these Regulations may apply.
(3) Any reference to a bank or financial institution in these Regulations shall include a reference to any other institution approved by the Minister under subregulation (2).
Interpretation
3. In these Regulations, “housing loan” means any loan granted by a bank or financial institution to finance the purchase of a residential property.
Gross income of bank or financial institution
4. (1) Subject to this regulation, where in respect of any amount of interest due and payable by an individual on a housing loan granted by a bank or financial institution in the basis period for a year of assessment, a moratorium on such interest is approved by the bank or financial institution, such interest shall not constitute the gross income of that bank or financial institution for that basis period for a year of assessment.
(2) The interest referred to in subregulation (1) is interest which is due and payable for a period of twelve consecutive months beginning from the month where the moratorium is approved by the bank or financial institution.
(3) Notwithstanding subregulation (1), where any amount of interest referred to in subregulations (1) and (2) is received by the bank or financial institution in the basis period for a year of assessment, such interest shall be treated as the gross income of the bank or financial institution for the basis period for that year of assessment.
Conditions relating to individual to whom housing loan was granted, housing loan and moratorium
5. For the purposes of these Regulations, the following conditions shall apply:
(a) relating to the individual to whom the housing loan was granted—
(i) that the individual is a citizen;
(ii) that the employment of the individual has been terminated pursuant to a separation scheme or retrenchment, on or after 1 July 2008; and
(iii) that the termination of the employment of the individual is registered with the Director General of Labour, Ministry of Human Resources;
(b) relating to the housing loan, that the housing loan was granted prior to the termination of the employment of the individual; and
(c) relating to the moratorium, that the application for the moratorium shall be made by the individual to a bank or financial institution on or after 10 March 2009 but not later than 9 March 2010.
Made 10 March 2009
[Perb.0.3865/410;LHDN.01/35/(S)/42/51/231-17.11;PN(PU2)80/LIV]
Dato’ Hasmah binti Abdull ah
Director General of Inland Revenue
Income Tax (Deduction for Expenses Relating to Remuneration of Employee) Rules 2009
In exercise of the powers conferred by paragraph 154(1)(b) of the Income Tax Act 1967 [Act 53], the Minister makes the following rules:
Citation and commencement
1. (1) These rules may be cited as the Income Tax (Deduction for Expenses relating to Remuneration of Employee) Rules 2009.
(2) These Rules have effect for the year of assessment 2009 and subsequent years of assessment.
Interpretation
2. In these Rules—
“employee” means an employee as described in subrule 4(2);
“remuneration” means any wages, salary, or allowance in respect of having or exercising employment.
Application
3. These Rules shall apply to a person who is a resident in Malaysia who employs an employee on full-time basis between the period of 10 March 2009 until 31 December 2010.
Deduction
4. (1) Subject to these Rules, in ascertaining the adjusted income of a person who is a resident in Malaysia from its business in the basis period for a year of assessment, there shall be allowed to that person a further deduction equal to the amount of expenses incurred and allowable under section 33 of the Act in respect of the remuneration paid to his employee.
(2) The deduction under subrule (1) apply only in respect of an employee—
(a) who is a citizen and resident in Malaysia;
(b) whose employment with a previous employer has been terminated pursuant to a separation scheme or retrenchment, on or after 1 July 2008; and
(c) whose termination of employment has been registered with the Director General of Labour, the Ministry of Human Resources.
(3) For the purposes of subrule (1), the amount of the further deduction shall not exceed a maximum amount of ten thousand ringgit for each month in respect of each employee for a maximum period of twelve consecutive months commencing from the first month the employee is employed.
Non-application
5. (1) These Rules shall not apply where—
(a) the employee is employed by a person to replace a former employee of that person for the purpose of carrying out the same or similar function of that former employee;
(b) the former employer and the present employer are associates as defined in section 139 of the Act;
(c) the former employer and the present employer one of whom has control over the other; or
(d) the former employer and the present employer both of whom are controlled by another person.
(2) In this rule, a person has control—
(a) where the person has the power to exercise or is able to exercise or is entitled to acquire, control (whether direct or indirect) over the affairs of another;
(b) where the person has the power to possess or acquire the greater part of the share capital or voting power in another; or
(c) in relation to a partnership, where the person has the right to a share of more than one-half of the assets of the partnership, or to more than one-half of the divisible profits of the partnership.
Made 10 March 2009
[Perb.0.3865/410;LHDN 01/35/(S)/42/51/231-17.11;PN(PU2)80/LIV]
Tan Sri Nor Md bin Yakcop
Second Minister of Finance
[To be laid before the Dewan Rakyat pursuant to subsection 154(2) of the Income Tax Act 1967]
In exercise of the powers conferred by paragraph 154(1)(b) of the Income Tax Act 1967 [Act 53], the Minister makes the following rules:
Citation and commencement
1. (1) These rules may be cited as the Income Tax (Deduction for Expenses relating to Remuneration of Employee) Rules 2009.
(2) These Rules have effect for the year of assessment 2009 and subsequent years of assessment.
Interpretation
2. In these Rules—
“employee” means an employee as described in subrule 4(2);
“remuneration” means any wages, salary, or allowance in respect of having or exercising employment.
Application
3. These Rules shall apply to a person who is a resident in Malaysia who employs an employee on full-time basis between the period of 10 March 2009 until 31 December 2010.
Deduction
4. (1) Subject to these Rules, in ascertaining the adjusted income of a person who is a resident in Malaysia from its business in the basis period for a year of assessment, there shall be allowed to that person a further deduction equal to the amount of expenses incurred and allowable under section 33 of the Act in respect of the remuneration paid to his employee.
(2) The deduction under subrule (1) apply only in respect of an employee—
(a) who is a citizen and resident in Malaysia;
(b) whose employment with a previous employer has been terminated pursuant to a separation scheme or retrenchment, on or after 1 July 2008; and
(c) whose termination of employment has been registered with the Director General of Labour, the Ministry of Human Resources.
(3) For the purposes of subrule (1), the amount of the further deduction shall not exceed a maximum amount of ten thousand ringgit for each month in respect of each employee for a maximum period of twelve consecutive months commencing from the first month the employee is employed.
Non-application
5. (1) These Rules shall not apply where—
(a) the employee is employed by a person to replace a former employee of that person for the purpose of carrying out the same or similar function of that former employee;
(b) the former employer and the present employer are associates as defined in section 139 of the Act;
(c) the former employer and the present employer one of whom has control over the other; or
(d) the former employer and the present employer both of whom are controlled by another person.
(2) In this rule, a person has control—
(a) where the person has the power to exercise or is able to exercise or is entitled to acquire, control (whether direct or indirect) over the affairs of another;
(b) where the person has the power to possess or acquire the greater part of the share capital or voting power in another; or
(c) in relation to a partnership, where the person has the right to a share of more than one-half of the assets of the partnership, or to more than one-half of the divisible profits of the partnership.
Made 10 March 2009
[Perb.0.3865/410;LHDN 01/35/(S)/42/51/231-17.11;PN(PU2)80/LIV]
Tan Sri Nor Md bin Yakcop
Second Minister of Finance
[To be laid before the Dewan Rakyat pursuant to subsection 154(2) of the Income Tax Act 1967]
Income Tax (Accelerated Capital Allowance) (Plant and Machinery)
Rules 2009
In exercise of the powers conferred by paragraph 154(1)(b) of the Income Tax Act 1967 [Act 53], the Minister makes the following rules:
Citation and commencement
1. (1) These rules may be cited as the Income Tax (Accelerated Capital Allowance) (Plant and Machinery) Rules 2009.
(2) These Rules have effect for the year of assessment 2009 and subsequent years of assessment.
Application
2. These Rules apply to a person—
(a) who is a resident in Malaysia; and
(b) who for the purpose of a business of his incurs qualifying plant expenditure under Schedule 3 of the Act on or after 10 March 2009 but not later than 31 December 2010.
Deeming provision relating to hire purchase agreement
3. Where the person referred to in rule 2 incurs qualifying plant expenditure under a hire purchase agreement, such person shall be taken to be the owner of the plant and machinery in respect of which the qualifying plant expenditure was incurred and that qualifying plant expenditure incurred by such person in the basis period for the year of assessment shall be taken to be the capital portion of any instalment payment (or, where there is more than one such payment, of the aggregate of those payments) made by such person under such hire purchase agreement in that period.
Initial allowance
4. The person referred to in rule 2 qualifies for an initial allowance under paragraph 10 of Schedule 3 of the Act for the qualifying plant expenditure which shall be equal to one-fifth of the expenditure.
Annual allowance
5. The person referred to in rule 2 qualifies for an annual allowance under paragraph 15 of Schedule 3 of the Act for the qualifying plant expenditure which shall be equal to two-fifths of the expenditure.
Non-application
6. These Rules shall not apply to a person who in the period on or after 10 March 2009 but not later than 31 December 2010—
(a) has been granted any incentive under the Promotion of Investments Act 1986 [Act 327];
(b) has made a claim for reinvestment allowance under Schedule 7A of the Act;
(c) has been granted any exemption under paragraph 127(3)(b) or subsection 127(3A) of the Act; or
(d) qualifies for an allowance at a higher fraction under the Act or any rules made under section 154 of the Act.
Made 10 March 2009
[Perb.0.3865/410;LHDN 01/35/(S)/42/51/231-17.11;PN(PU2)80/LIV]
Tan Sri Nor Md bin Yakcop
Second Minister of Finance
[To be laid before the Dewan Rakyat pursuant to subsection 154(2) of the Income Tax Act 1967]
Rules 2009
In exercise of the powers conferred by paragraph 154(1)(b) of the Income Tax Act 1967 [Act 53], the Minister makes the following rules:
Citation and commencement
1. (1) These rules may be cited as the Income Tax (Accelerated Capital Allowance) (Plant and Machinery) Rules 2009.
(2) These Rules have effect for the year of assessment 2009 and subsequent years of assessment.
Application
2. These Rules apply to a person—
(a) who is a resident in Malaysia; and
(b) who for the purpose of a business of his incurs qualifying plant expenditure under Schedule 3 of the Act on or after 10 March 2009 but not later than 31 December 2010.
Deeming provision relating to hire purchase agreement
3. Where the person referred to in rule 2 incurs qualifying plant expenditure under a hire purchase agreement, such person shall be taken to be the owner of the plant and machinery in respect of which the qualifying plant expenditure was incurred and that qualifying plant expenditure incurred by such person in the basis period for the year of assessment shall be taken to be the capital portion of any instalment payment (or, where there is more than one such payment, of the aggregate of those payments) made by such person under such hire purchase agreement in that period.
Initial allowance
4. The person referred to in rule 2 qualifies for an initial allowance under paragraph 10 of Schedule 3 of the Act for the qualifying plant expenditure which shall be equal to one-fifth of the expenditure.
Annual allowance
5. The person referred to in rule 2 qualifies for an annual allowance under paragraph 15 of Schedule 3 of the Act for the qualifying plant expenditure which shall be equal to two-fifths of the expenditure.
Non-application
6. These Rules shall not apply to a person who in the period on or after 10 March 2009 but not later than 31 December 2010—
(a) has been granted any incentive under the Promotion of Investments Act 1986 [Act 327];
(b) has made a claim for reinvestment allowance under Schedule 7A of the Act;
(c) has been granted any exemption under paragraph 127(3)(b) or subsection 127(3A) of the Act; or
(d) qualifies for an allowance at a higher fraction under the Act or any rules made under section 154 of the Act.
Made 10 March 2009
[Perb.0.3865/410;LHDN 01/35/(S)/42/51/231-17.11;PN(PU2)80/LIV]
Tan Sri Nor Md bin Yakcop
Second Minister of Finance
[To be laid before the Dewan Rakyat pursuant to subsection 154(2) of the Income Tax Act 1967]
Windfall Profit Levy (Oil Palm Fruit) (Amendment) Order 2009
Windfall Profit Levy (Oil Palm Fruit) (Amendment) Order 2009
In exercise of the powers conferred by section 6 of the Windfall Profit Levy Act 1998 [Act 592], the Minister makes the following order:
Citation and commencement
1. (1) This order may be cited as the Windfall Profit Levy (Oil Palm Fruit) (Amendment) Order 2009.
(2) This Order comes into operation on 10 March 2009.
Amendment of paragraph 5
2. The Windfall Profit Levy (Oil Palm Fruit) Order 2008 [P.U. (A) 250/2008] is amended in paragraph 5—
(a) in subparagraph (1)(a), by substituting for the words “RM2,000.00” the words “RM2,500.00”; and
(b) in subparagraph (1)(b), by substituting for the words “RM2,000.00” the words “RM3,000.00”.
Made 10 March 2009
[Sulit KE.HE(96)009/20; Perb.CR(8.09)202-28(Sj.1)Vol. 2; PN(PU2)599]
Tan Sri Nor Md bin Yakcop
Second Minister of Finance
In exercise of the powers conferred by section 6 of the Windfall Profit Levy Act 1998 [Act 592], the Minister makes the following order:
Citation and commencement
1. (1) This order may be cited as the Windfall Profit Levy (Oil Palm Fruit) (Amendment) Order 2009.
(2) This Order comes into operation on 10 March 2009.
Amendment of paragraph 5
2. The Windfall Profit Levy (Oil Palm Fruit) Order 2008 [P.U. (A) 250/2008] is amended in paragraph 5—
(a) in subparagraph (1)(a), by substituting for the words “RM2,000.00” the words “RM2,500.00”; and
(b) in subparagraph (1)(b), by substituting for the words “RM2,000.00” the words “RM3,000.00”.
Made 10 March 2009
[Sulit KE.HE(96)009/20; Perb.CR(8.09)202-28(Sj.1)Vol. 2; PN(PU2)599]
Tan Sri Nor Md bin Yakcop
Second Minister of Finance
Stamp Duty (Remission) (No. 2) (Revocation) Order 2009
In exercise of the powers conferred by subsection 80(2) of the Stamp Act 1949 [Act 378], the Minister makes the following order:
Citation
1. This order may be cited as the Stamp Duty (Remission) (No. 2) (Revocation) Order 2009.
Revocation
2. The Stamp Duty (Remission) (No. 2) Order 2006 [P.U. (A) 148/2006] is revoked.
Made 5 January 2009
[Perb. CR(8.09)248/39/7-217 Vol. 5 (Sk. 1); LHDN. 01/34/42/68-100-3-2;
PN(PU2)159/XXXIV]
Tan Sri Nor Md bin Yakcop
Second Minister of Finance
In exercise of the powers conferred by subsection 80(2) of the Stamp Act 1949 [Act 378], the Minister makes the following order:
Citation
1. This order may be cited as the Stamp Duty (Remission) (No. 2) (Revocation) Order 2009.
Revocation
2. The Stamp Duty (Remission) (No. 2) Order 2006 [P.U. (A) 148/2006] is revoked.
Made 5 January 2009
[Perb. CR(8.09)248/39/7-217 Vol. 5 (Sk. 1); LHDN. 01/34/42/68-100-3-2;
PN(PU2)159/XXXIV]
Tan Sri Nor Md bin Yakcop
Second Minister of Finance
Income Tax (Returns by Employers) Order 2009
Income Tax (Returns by Employers) Order 2009
In exercise of the powers conferred by subsection 83(1) of the Income Tax Act 1967 [Act 53], the Director General makes the following order:
Citation
1. This order may be cited as the Income Tax (Returns by Employers) Order 2009.
Employer to prepare and deliver return
2. (1) Every employer shall prepare and deliver to the Director General within thirty days immediately following the date of the publication of this Order in the Gazette, a return in Form E containing the following information:
(a) the number of employees for the year ended 31 December 2008;
(b) the number of employees subject to deductions under the Scheduler Tax Deduction Scheme (STD) for the year ended 31 December 2008;
(c) the number of new employees for the year ended 31 December 2008;
(d) the number of employees who have resigned for the year ended 31 December 2008; and
(e) the number of employees who have resigned and left Malaysia for the year ended 31 December 2008.
(2) Form E which has been completed shall be delivered to the Director General at the address specified in such Form.
Employer to prepare and deliver salary statement to the employee
3. Every employer shall prepare and deliver to the employee on or before 30 March 2009, a salary statement in Form CP 8A or 8C, as the case may be, containing the following information:
(a) employees’ particulars;
(b) employment income, benefits and place of residence;
(c) pension and others;
(d) total deductions under the Scheduler Tax Deduction Scheme (STD) paid to the Inland Revenue Board in the year 2008;
(e) employees’ compulsory contributions made to the Pension Fund or Employees Provident Fund or approved fund;
(f) details regarding the payment of arrears and others for prior years (before the year 2008); and
(g) tax exempt allowances, perquisites, gifts and benefits for the year ended 31 December 2008.
Made 2 January 2009
[LHDN. 01/12.2/248/3/1 Klt. 3; PN(PU2)80/LV]
Dato’ Hasmah binti Abdullah
Director General of Inland Revenue
In exercise of the powers conferred by subsection 83(1) of the Income Tax Act 1967 [Act 53], the Director General makes the following order:
Citation
1. This order may be cited as the Income Tax (Returns by Employers) Order 2009.
Employer to prepare and deliver return
2. (1) Every employer shall prepare and deliver to the Director General within thirty days immediately following the date of the publication of this Order in the Gazette, a return in Form E containing the following information:
(a) the number of employees for the year ended 31 December 2008;
(b) the number of employees subject to deductions under the Scheduler Tax Deduction Scheme (STD) for the year ended 31 December 2008;
(c) the number of new employees for the year ended 31 December 2008;
(d) the number of employees who have resigned for the year ended 31 December 2008; and
(e) the number of employees who have resigned and left Malaysia for the year ended 31 December 2008.
(2) Form E which has been completed shall be delivered to the Director General at the address specified in such Form.
Employer to prepare and deliver salary statement to the employee
3. Every employer shall prepare and deliver to the employee on or before 30 March 2009, a salary statement in Form CP 8A or 8C, as the case may be, containing the following information:
(a) employees’ particulars;
(b) employment income, benefits and place of residence;
(c) pension and others;
(d) total deductions under the Scheduler Tax Deduction Scheme (STD) paid to the Inland Revenue Board in the year 2008;
(e) employees’ compulsory contributions made to the Pension Fund or Employees Provident Fund or approved fund;
(f) details regarding the payment of arrears and others for prior years (before the year 2008); and
(g) tax exempt allowances, perquisites, gifts and benefits for the year ended 31 December 2008.
Made 2 January 2009
[LHDN. 01/12.2/248/3/1 Klt. 3; PN(PU2)80/LV]
Dato’ Hasmah binti Abdullah
Director General of Inland Revenue
Stamp Duty (Remission) (No. 2) Order 2008
In exercise of the powers conferred by subsection 80(2) of the Stamp Act 1949 [Act 378], the Minister makes the following order:
Citation
1. This order may be cited as the Stamp Duty (Remission) (No. 2) Order 2008.
Remission
2. (1) Fifty percent is remitted from the stamp duty chargeable on any loan agreement executed between a purchaser named in the Sale and Purchase Agreement, who is a Malaysian citizen, and a bank, a financial institution, an insurance company registered under the Insurance Act 1996 [Act 553], a co-operative society registered under the Co-operative Societies Act 1993 [Act 502], or an employer under an employee housing loan scheme, to finance the purchase of only one unit of residential property costing not more than two hundred and fifty thousand ringgit (RM250,000) per unit provided that the Sale and Purchase Agreement is executed on or after 30 August 2008 but not later than 31 December 2010.
(2) In this paragraph, “residential property” means a house, and a condominium unit, an apartment and a flat built as a dwelling house.
Made 5 September 2008
[Perb. CR(8.09)294/6/4-9(SJ. 9) (2009) (SK. 1);
LHDN. 01/35/(S)/42/51/231-17.10; PN(PU2)159/XXXIV]
Tan Sri Nor Md bin Yakcop
Second Minister of Finance
In exercise of the powers conferred by subsection 80(2) of the Stamp Act 1949 [Act 378], the Minister makes the following order:
Citation
1. This order may be cited as the Stamp Duty (Remission) (No. 2) Order 2008.
Remission
2. (1) Fifty percent is remitted from the stamp duty chargeable on any loan agreement executed between a purchaser named in the Sale and Purchase Agreement, who is a Malaysian citizen, and a bank, a financial institution, an insurance company registered under the Insurance Act 1996 [Act 553], a co-operative society registered under the Co-operative Societies Act 1993 [Act 502], or an employer under an employee housing loan scheme, to finance the purchase of only one unit of residential property costing not more than two hundred and fifty thousand ringgit (RM250,000) per unit provided that the Sale and Purchase Agreement is executed on or after 30 August 2008 but not later than 31 December 2010.
(2) In this paragraph, “residential property” means a house, and a condominium unit, an apartment and a flat built as a dwelling house.
Made 5 September 2008
[Perb. CR(8.09)294/6/4-9(SJ. 9) (2009) (SK. 1);
LHDN. 01/35/(S)/42/51/231-17.10; PN(PU2)159/XXXIV]
Tan Sri Nor Md bin Yakcop
Second Minister of Finance
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