Taxman Calls

How to Legally Reduce Taxes

1) File separate tax returns if both husband and wife are working – each spouse can claim RM8000 personal tax relief instead of RM3000 for either one under a joint submission
2) Save for children’s education – tax relief of RM3000 each spouse
3) Make charitable contribution to approved organisations
4) Read more – tax relief of up to RM1000 on book purchases supported by receipts
5) Play sports – tax deduction of up to RM300 for purchases of sporting equipment
6) Buy life insurance – tax relief of up to RM6000
7) Take up medical and/or Education policy – tax relief of up to RM3000
8) Pay parents’ medical bills - tax deduction of up to RM300
9) Full medical check up – RM500 tax deduction
10) Pay Zakat – tax rebate on full amount of zakat paid
11) Buy a computer– RM3000 tax rebate (once every three years)
12) Take up post-graduate study in recognised institution – tax relief of RM5000

Income tax is not the only form of tax we pay; there is also the road tax, sales (GST) tax, import tax, sin tax (for smokers & drinkers), airport tax, levies as well as duties. I’m not saying we should avoid paying taxes, as responsible citizens we must fulfil our tax obligations. At the same time we also expect to get our money’s worth when we pay taxes, we expect good (free) roads, proper amenities and public transport system, quality medical service, a excellent education system, and welfare of the less privilaged being well taken care of.

As tax payers we demand that our hard earned money is not abused, wasted and used to enrich a select few.

Maybe They Are Senile

The UMNO Veterans Council, formerly known as the UMNO Veterans Club, has proposed that PAS merges back with UMNO to ensure a better future for the Malays and Muslims in the country. UMNO Veterans information head Datuk Dr Dzulkarnain Abdul Rahman made the proposal at a press conference after the UMNO Veterans meeting at the Putra World Trade Centre. (The Malaysian Insider, 30 April 2009)

They think that PAS can merge with UMNO for the sake of the Malays and Muslims like they had pushed for during the pre-independence era. They also claim PAS was also a part of UMNO previously.

The objective of the merger proposal is to ensure Malay and Muslim unity. The problem is merging PAS with UMNO will not create Malay and/or Muslim unity.

The foundations on which the two parties are formed differ greatly. PAS’ goal is to establish Shariah as the governing laws of the nation. UMNO seems indifferent about the type of law that governs the country but not PAS, they are adamant on Shariah.

UMNO is a party for Malays, fighting for Malay rights and supremacy.
PAS is a party for Muslims, fighting to uphold Shariah as the governing laws for Muslims.

UMNO only admit Malays (Bumiputeras) as members, regardless of their religion
PAS admits Muslims as full members regardless of their race and admits non-Muslims as “Supporters’ Club members”

If UMNO and PAS merges, what will happen to PAS members like Annuar Tan, Khalil Idham Lim etc? They are not Malays so technically they cannot be members of UMNO (notwithstanding the Malaysia Boleh spirit).

If UMNO and PAS merges, will UMNO agree to Shariah being the governing laws for Muslims?

We should stop equating Malays with Islam. Malays are not necessarily Muslim, heck we were all Hindus 6/700 years ago! Not everyone can be a Malay, a “Bin/Binti” or a Malay sounding name or being a Muslim does not make one a Malay.

On the other hand, Islam is for all. Anyone can be a Muslim regardless of race.

So, merging a Malay based party with an Islamic based party will not achieve any kind of unity, worse it may create a wider split.

Btw, was PAS ever part of UMNO?

Living on Debt

I just found out that the most indebted countries are not those from the African or South American continents. Countries with the most external debts are also members of the G8.

1. USA - USD 13.7 billion
2. UK - USD 10.45 billion
3. Germany - USD 4.5 billion
4. France - USD 4.4 billion
5. Netherlands - USD 2.28 billion
6. Ireland - USD 1.84 billion
7. Japan - USD 1.49 billion
8. Switzerland - USD 1.34 billion
9. Belgium - USD 1.31 billion
10. Spain - USD 1.31 billion

http://makewealthhistory.org/2009/02/13/the-worlds-most-indebted-countries/

Travelogue #04b – Kuala Lumpur (Part 2)

In this part I’ll will list the museums in KL (there are lots!) and a list of places to shop.

Museums:

Travelogue #04a – Kuala Lumpur (Part 1)

If I was asked by a potential tourist what to do and see in KL, I honestly won’t know what to say. I have lived in KL for the most of my life and maybe that’s why I take the city for granted and not see the beautiful things it can offer. So to redeem myself, I shall suggest a few interesting things to do and see when in KL and its surrounding areas.

• Bangunan Sultan Abdul Samad (above picture) – a must in any brochure on KL, used to be he city’s main building for everything.
• Dataran Merdeka – a big lawn where they used to play cricket and rugby and where they gathered on the eve of 31 August 1957 (Merdeka) to lower the Union Jack and raise the Malayan flag. People continue to gather here on the eve of Merdeka every year since.
• Royal Selangor Club – opposite the Bangunan Sultan Abdul Samad, separated by the above lawn, nice old building with lots of history
• KL Railway Station – previously the main station before KL Sentral
• KTM Headquarters – across the road from KL Railway Station
• Lake Gardens – KL oldest park, very crowded during weekend evenings and public holidays
• Titiwangsa Lake Gardens – the Eye on Malaysia ferries wheel was here
• Bird park at the KL Lake Gardens – apparently it is the world’s biggest aviary. Very Malaysian, always wanting to be the biggest, tallest …

• Orchid Park also somewhere near the Lake Gardens – you’ll only find orchids here.
• Butterfly Park at the KL Lake Gardens – for butterfly lovers
• Deer Park at the KL Lake Gardens – as the name suggests …
• National Monument (also in KL Lake Gardens) – statue of Malaysian soldiers defeating the communist terrorists.
• Parliament House – near KL Lake Gardens. I’m not sure if visitors are allowed in or how far in are they allowed.
• KL Hop on Hop off bus tour (like the one in London and Hong Kong) – ride a bus through the city’s traffic
• Kuala Lumpur Tower – telecommunication tower with a viewing deck, just like in Sydney and Toronto but nothing like in Paris.
• Petronas Twin Towers – once the world’s tallest building (see, I told you!) build on a former race course. The KLCC Park is next to the towers, with a jogging track and a public pool. Suria KLCC shopping mall houses most of the world’s glamorous brands.
• Central Market – once KL’s main wet market, this art deco building was turned into a cultural village in the mid 80’s. Handicrafts and souvenirs are abundant here.
• Petrosains Discovery Centre on level 4 Suria KLCC, a science adventure park for kids
• Aquaria KLCC, aquarium with lots of nice fish and sea life, kids will love it
• Masjid Negara (National Mosque) – built in the early 60s, behind KTM HQ
• Masjid Jame – KL’s main mosque pre Masjid Negara, on Jalan Tun Perak on the confluence of the Klang and Gombak Rivers, the site of the first landing in KL
• Zoo Negara, 8 miles from the city in the suburb of Ulu Kelang – national zoo
• Sunway Lagoon in Sunway, theme park and water park, for kids mostly
• Istana Budaya is the national theatre where plays are staged but if you are into theatre, good quality plays are also held at KLPAC in Sentul and TAC in Bangsar Shopping Centre.
• Batu Caves – Hindu temple in a cave, one has to walk up lots of steps to get to the cave
• Sri Mahamariamman Temple – KL’s oldest and richest Hindu temple, a short walk away from Chinatown’s Petaling Street
• Sze Ya Temple – KL’s oldest Taoist temple built by Yap Ah Loy, also in Chinatown
• St. Mary's Cathedral – next to Dataran Merdeka, the chief office of the Anglican Bishop of West Malaysia.
• Bukit Nanas Forest Reserve – a little jungle in the middle of the concrete jungle.

Fireflies in Kuala Selangor – take a boat ride in the early evening and marvel at the fireflies. Kuala Selangor is about 40kms west of KL and apparently the boat rides start at around 8pm.

Anyone wants a dip in the sea can go to Port Dickson (PD), about 110kms south of KL, the less crowded beaches are at Batu 4 near the Avillion Marina and Cape Rachado near the lighthouse.

Cyberspace Ethics

The changes happening across the globe for the past 15 years or so is largely attributed to the birth of this phenomenon called the internet. The world has become so small and everyone seems to be just next door. Dissipation of information has become so easy and efficient with the advent of Messenger, email, Facebook, Twitter, blogs etc. Everyone can now speak their mind, express their views and most importantly, do it immediately and anonymously. However, this anonymity breeds irresponsibility. Disrespectful, libellous, slanderous, defamatory, insulting comments are being posted by anonymous commentators on the World Wide Web for everyone to see. There is no problem about exposing the truth but there will be a problem if the truth is exaggerated or insults are included.

The most famous Malaysian blogger is probably Raja Petra of MalaysiaToday. We also have Jeff Ooi the blogger turned parliamentarian. I regard them as genuine and to a certain extent credible bloggers simply because they reveal their identities. They may not be able to reveal their sources but at least they are man enough to tell the world who they are and not hide cowardly behind the “cyberwalls”.

Blogs/bloggers that/who claim to be guardians of morality and bastions of transparency and justice should try acting like one. I found a blog claiming to be fighting for justice for employees in a large recently merged plantation based Government Linked Corporation; it also claims to want to protect the interests of shareholders and rakyat in general. I applaud his/her attempts and efforts but I think the way he’s/she’s carrying out his/her “crusade” leaves a lot to be desired.

Firstly, he/she is anonymous and secondly he/she is rude, vulgar and uncouth. Dude, if you want to be a crusader of justice, try not to insult other people’s names, especially that of their father’s, what did the old man ever did to you to deserve being called shit? And if you’re too chicken to reveal your real identity, then don’t go around digging and revealing other people’s sins.

I blog under a pseudonym, for those who are curious to know who I am, just leave a comment and I’ll reveal ALL

Shall We Do Away with Universities?

What are universities for? I mean why do people waste money and time going to university? A typical undergraduate course lasts at least 3 years and cost lots of money not just on fees but also for books, food and lodging, writing materials etc. There must be some need for these revered institutions, if not how could Azhar and Oxbridge get to be hundreds (thousands in Azhar’s case) of years old?

University is just a name given to an institution providing formal post secondary education. The important thing is to continue getting formal education after finishing high school. The reason is simple, knowledge is so abundant that 11-12 years of schooling cannot and will not equip anyone with the necessary knowledge to go through 70 years of life. The key to a better life is formal education and by formal means being taught by someone more knowledgeable, informed and experienced. Formal education makes a person able to understand and appreciate life better. The problem with being self taught is that one is limited to one’s own ability to interpret and understand knowledge and unless you are Stephen Hawking, I doubt you’ll get very far. (By the way, Dr Hawking also went to university).

The point is, formal post secondary education is vital to ensure the mind is trained to understand. I always tell my students that the reason why we go to university is for us to learn how to reason, rationalise and make an informed decision. No doubt there are many other ways of enriching one’s mind but young 19-20 year olds need the right guidance to embark on the journey called life. Going to university is not just about learning to be a lawyer, engineer or scientist; it is mostly about experiencing the university life and learning to learn.

The Prophet (pbuh) once said, “seek knowledge, even if you have to travel to China” and interestingly enough, acquiring knowledge is wajib which gives it a higher standing than for example terawih prayers during Ramadhan nights which underscores the importance of acquiring knowledge.

Learning is a never ending process but having the right foundations will ensure a better learning experience.

Quality, Quantity, Reputation?

A Universiti Sains Islam Malaysia (USIM, formerly known as KUIM) lecturer who passed only four out of 157 of her law students claims she was forced to resign so that the university could protect its reputation, Kosmo! reported.

According to this lecturer, only 4 of her 157 students met the minimum standards for a pass and she would not bow to her bosses’ pressure to give sympathy marks to those undeserved just to protect the university's reputation or meet their KPIs.

Her bosses asked her to give free marks just to pass some students! Damn! If people running our universities have this kind of attitude, we should not be surprised that our local universities produce crappy, lousy graduates.

The thing is, exam results reflects the students ability at a given point of time taking into consideration his/her mental and physical state. A string of As is not an accurate indication of intelligence neither is a string of Ds an indication of stupidity although there may be some truth in that but other factors like mental readiness, physical fitness, effort, attitude, luck or ability to memorise plays a part in the exam results.

The bell curve should not dictate how many students pass and how many fail. How the students fare should be determined through the close book exam results, project presentations, project paper, attendance and attitude. Those who meet the minimum requirements should be given a pass and those who doesn’t, deserve to fail.

I admire and praise the lecturer’s stance and with more educationists like her, the country can look forward to the production of quality graduates who can actually string a proper sentence, in any language!

A Not So Good Start

Najib Razak doesn’t seem to have the most perfect start to his tenure as the most powerful man on the land (well, 2nd most powerful after Dr M).

• Barely a week after his inauguration, BN lost 2 by elections;


• He went to Bangkok but had to come back without achieving much;


• His deputy decides to deride the Chinese community;


• MIC threatened to pull their ministers out from the cabinet. (Seriously Samy, do you really believe that will make a difference? Win more seats if you want people to entertain your demands);


• The Terengganu BN government is in turmoil.
  

At this rate, BN will have their work cut out in their attempt to stay in power …

LFC

Liverpool failed to reach the Champions League SF, losing to Chelsea for the second year in a row but they went down fighting to the very end. Well done!

IBF #11 - Islamic Finance refresher

Definition:
Financial activities undertaken according to Shariah rules sourced from the Quran and traditions (hadith) of the Prophet s.a.w.

Objectives:

• Equitable creation of wealth
• Fair and Transparent transactions
  

Principles of Islamic Finance:

• Finance is tied to actual economic activity
• Returns from financing activities must be based on actual performance of economic activity
• Money is an intermediary and not a commodity
• Lending is a benevolent act without the profit motive
• Equitable sharing of responsibilities, risk and rewards
  

Scope of Islamic Financial activities:
Economic transactions are generally accepted unless they are prohibited by Shariah

Prohibited transactions:
Activities involving/related to:

1. Riba/usury based transactions (conventional, compounded bank interest)

2. Any form gambling or game of chance (casino, number forecasting, sports/horse/dog betting, bingo, lucky draws and the like)

3. Uncertainty, ambiguous contract terms (conventional insurance, derivatives and the like)

4. Alcohol production and distribution

5. Entertainment that does not adhere to the Islamic code (karaoke, cinema/theatre, bars, discotheques and the like)

6. Pork and swine related industries

7. Selling something the seller does not own (short selling)

8. Selling in pursue of a loan denotes intetion to circumvent rules prohibiting riba (hilah)

Islamic Finance is not a zero sum game where there has to be one party worse off for the other to be better off. Islamic Finance is a positive sum game where gains and losses are borne equitably together.

ANHEDONIA – Pleasure Killing Disease

Anhedonia is a medical condition that most people are not aware of. The sufferer of Anhedonia is unable to obtain pleasure from normal enjoyable experiences such as playing games, eating, social interactions or sexual activities. The condition was identified back in the 19th century but only came into attention in the 1980s. Anhedonia is now recognised as a core symptom of depression and the Institute of Psychiatry in London is highlighting the links between the brain and depressive illness.

Symptoms of Anhedonia are as follows:
1. An anhedonic patient has an incredibly flat mood;
2. They cannot react properly or feel anything or in other words there is no variation of mood, they have difficulties in expression weather it be happy or sad event.;
3. Anhedonia places a great strain on relationships, and is usually accompanied by a loss of sexual drive;
4. Depression has become a very common condition in today's life; it affects one in every five people. At some time in their lives, anhedonia in combination with depression can cause potentially fatal illness and even suicide.

There are so many fatal diseases, silent killers amongst us but most people are not aware that they could be at risk. Some diseases can be attributed to a person’s lifestyle, eating habits etc but those which cannot be linked to a person’s way of life tend to be more dangerous, and when it strikes, it catches everyone in surprise.

They say ignorance is bliss or is it?


http://www.healthmad.com

Service Before Self

These past few days have seen demands from MCA and MIC for cabinet positions. The main justification for their demands was to ensure the interests of their respective communities are taken care of.

I’m baffled. Seriously. President Ong and President Samy seem to suggest that the interests of a particular race can only be taken care of when there is a Minister from that race in the cabinet? What ever happened to the dictum that Ministers are supposed to protect the rights and interests of all Malaysians regardless of their race? Are these two Presidents suggesting that the interests of the Chinese and Indians will be at risk if all Ministers are Malay, or vice versa? On the same note, why is UMNO projecting ex-MB (or MB, depending on whose side you're on) Nizar as a Chinese puppet? Isn’t it his job to take care of the rakyat, regardless of their race?

I think there is a serious flaw in the thinking of Malaysian politicians. Or maybe they are a bunch of hypocrites.

The problem is we have to see things from the Malaysian perspective, not from communal angles anymore. We must have faith that a person appointed Minister will have our best interests at heart, regardless of his race or ours.

That’s what you call a public servant. That’s what professionalism and fairness is all about.

The New Cabinet

The new cabinet was announced on 9 April 2009. There were lots of surprises but there were even more disappointments.

One thing for sure is, Mahathir is still in control.

KJ will have a tough time fighting for his political relevance. But all hope is not yet lost, Zahid Hamidi, the last Youth head who was not made a minister made an amazing comeback 10 years after being thrown into the political wilderness, not to mention Kamunting. So, KJ should take a leaf out of that and sleep well.

No, I’m not a KJ man. I don’t even want to be in the same room as him, won’t touch him even with a 10 foot pole.

Hishamuddin – his appointment as Home Minister is just to expand his CV, getting ready for the day he is appointed DPM. My bet is if BN wins the next election, Najib will stay on as PM for as long as he can until Muhyiddin gives up waiting. Then the road is clear for Hishamuddin to be appointed DPM. Just like their dads.

Rais Yatim – he’s not that old, he can still provide good service but I think we need new ideas, new blood.

Apparently (according to The Star) Anifah Aman was made Foreign Minister because of his good command of English. So does my 4 year old niece, so according to that logic, she is Foreign Minister material.

Zahid Hamidi – proves that 1998/99 was a temporary setback. Whatever happened to his relationship with Anwar?

Sulaiman Taib – Deputy Tourism Minister – our night clubs will be promoted all over the world now. I look forward to see the red London bus displaying adverts of Zouk, Rum Jungle, Pulse, Heritage Row etc with the smiling Sulaiman at the corner. (for the less informed, Azalina had a billboard showing local tourist attractions with the smiling PM, DPM & herself at the corner).

Mukhriz oh Mukhriz … it is bloody obvious ain’t it? A kick in the balls for KJ.

Shahrir Samad is perceived as non-corrupted but he's not included in this "clean" cabinet. Oh, he lost the supreme council seat, but he's still an MP isn't he? So, what is the criteria to be a Minister? MP or UMNO SC?

Why is Nazri Aziz still in the cabinet?
Wouldn’t Amirsham make a better Finance Minister than Husni, or even Najib for that matter?
Why is Ali Rustam still CM?

Good riddance - Muhammad Taib, Azalina and Syed Hamid

All is not lost though; I applaud Mustapha Mohamed’s appointment at MITI. Ummm that’s the only applause I can give …

IBF #10 - NPL and Islamic Banks

Technically NPLs should not exist in the Islamic banking system. NPLs are loans which are not repaid. There are two reasons for non repayment of loans; the first is the borrower’s inability to pay due to economic circumstances and the other is a blatant refusal to pay by the borrower despite having the ability to pay.

In the first instance, the banks should play the role of a caring organisation and restructure the repayment schedule to ensure repayment can be resumed and the borrower is not made worse off. The debt won’t turn bad because it has been restructured.

In the second case, the borrower should have his hands chopped off for stealing. Borrowing money and refusing to repay when the borrower has the means to repay tantamount to stealing. The penalty for theft under Shariah is cutting off the hands.

So, instead of charging the defaulter (or robber) penalties (ta'widh) and compounded interest, the Islamic Bank should just charge in him court for theft.

Now, if that kind of ruling is put in place, would there be any NPLs in Islamic banks?

Sports and TV

Major sporting events can now be viewed live on TV, anywhere in the world, anytime. Well it has been available for quite some time actually. But lately, TV executives are becoming increasingly influential (given the ridiculous amount of money poured by the TV companies into sports) in deciding when the audience get to watch our favourite sporting event. The traditional 3pm kick off for all games in the English football league are no longer practiced. The TV executives have introduced midday games and late kick-offs. Weekend football is no longer played only on Saturday but also on Sundays. Some games at the 1994 World Cup in the US were played during lunch time (when the summer sun is directly above our heads, most of the time the hottest part of the day) simply to satisfy the viewing patterns of the European viewers. There was also talk of the beautiful game being broken into 4 quarters (instead of the current 2 halves), just to enable more advertising time.

The recently concluded Malaysian F1 GP had to be abandoned halfway due to the thunderstorm making it dangerous to continue racing. Again, TV decided on the timing of the race, it was held at 5pm instead of 3pm like the previous years. The saying “everyone can plan the perfect race but no one can predict the weather” rings true but wouldn’t it better to have the race earlier instead of nearer to sundown given that the circuit doesn’t have floodlights?

TV made it possible for sporting events to be viewed from across the globe in real time. TV has increased the visibility of sports. TV has transformed sports personalities into celebrities. TV has increased the profile and incomes of the sporting industry.

But TV must be careful not to kill the sport in the process of fulfilling the viewers’ demands.

DPMs Galore

The Star, Monday April 6, 2009Better voice in government with a Chinese Deputy PM, says WeeSUNGAI PETANI: The proposed appointment of a Chinese Deputy Prime Minister will give the Chinese people in the country a better representation in government, said MCA Youth chief Datuk Dr Wee Ka Siong.
“We welcome such a proposal and hope it will materialise,” said Dr Wee, who is also a Deputy Education Minister.
He was asked to comment on MCA deputy secretary-general Datuk Loke Yuen Yow’s call to Prime Minister Datuk Seri Najib Tun Razak to create a post for a Chinese Deputy Prime Minister and a Chinese Barisan Nasional deputy chairman and appoint MCA president Datuk Seri Ong Tee Keat to the two posts.

I don’t think I’m a racist nor am I a Malay ultra/supremacist. But I have to disagree with the opinion/request of the MCA. If we appoint a Chinese DPM, the MIC will request for an Indian DPM, PBDS will request for an Iban DPM, PBS will request for a Kadazan DPM and we’ll end up having half a dozen DPMs, if not more.

Why can’t we just have one DPM but do not make it exclusive to the Deputy President of UMNO. Make it open to all regardless of race; after all, it is enshired in the constitution that only a Bumiputera can be a PM, so the Malays need not worry about having a non-Malay as PM.

Having said that, maybe Malaysia should consider scrapping the race based quota system, it is economically inefficient, its effectiveness is much doubted and how do you expect the Malays to successfully compete with the Chinese (from China/Taiwan), Indians (from the Indian sub-continent) and the rest of the world if they’re not used to competing at home?