TPL 001 – Tax Planning for HR Practitioners
TPL 001 – Tax Planning for HR Practitioners
Objective
Who should attend?
CURRICULUM
Day One
- Gross salaries, wages, leave pay
- Fees, commission, bonus, allowances, overtime, gratuity, others
- Perquisites
- Benefits in Kind (BIK)
- Living in accommodation provided by employer
- Refunds from unapproved pension funds
- Compensation for loss of office
- Recruitment/retirement of employees
- Monthly tax deductions scheme (PCB)
- Dealing with foreign workers/non-residents
- Determining resident status for employees
- Procedures for withholding payments
- Types of return forms/How to fill up the forms – Form E/EA/BE
- Non-compliance consequences
- Overview of Self-Assessment System (SAS) for individual taxpayers
- Tax audit and tax investigation
- Planning for tax efficient remuneration package
- Pitfalls/traps to be avoided when planning remuneration for executives/directors
- Valuing non-monetary and monetary benefits provided to employees
- Maximising tax reliefs and rebates given to employees
- Tax treatment of gratuity and compensation paid to employees
- Designing an effective tax computation system
- What is meant by BIK?
- Ascertainment of the value of BIK
Day Two
- The distinction between perquisites and BIK
- Types of perquisites and the tax treatment
- Employees pecuniary liabilities
- Credit card facilities
- Loan interest
- Recreational club membership
- Tuition or school fees of child
- Insurance premiums
- Gardener, driver, domestic help or guard
- Scholarship
- Waiver of loan or advance
- Assets provided free of charge or sold at discounted prices
- Gift vouchers
- Gift of personal computers
- Excellent Public Service award
- Professional subscriptions
- Income tax of the employee borne by the employer
- Tax treatment of living accommodation benefit provided to employees and service directors
- Computation of value of living accommodation
- Circumstances in which the value of benefit can be reduced
- Under what circumstances compensation for loss of employment arises?
- Distinction between payment for compensation and payment for gratuity
- Computation of taxable benefits
- Heywood vs. CIR
- Exxon Chemical (M) Sdn. Bhd. vs. KPHDN
- Other Malaysian tax cases