Do You Need To Declare Your Rental Income to LHDN?
Not sure whether you need to declare your rental income to LHDN? 🤔 The answer is YES! 🔑🏠
If you own a property and receive a monthly rental - regardless through an agency or directly from the tenant - you are required to declare the income earned.
A few things to note:
📌 Rental income is taxed on a progressive tax rate from 0% to 30%
📌 These rentals will be taxed on a received basis
📌 Losses cannot be carried forward to the next year
We highlighted expenses that are tax deductible and those that are not, along with some FAQs 📝
If you have any other questions, reach out to us via WhatsApp https://wa.me/60143248237 and our team will assist.