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New Year’s Resolutions for 2020 [ December 30th, 2019 ] Posted in » imDavidLee Life, News & Announcement

There are resolutions you hear every year, usually those resolutions involve something along the lines of saving money or getting healthier. Anything you make is going to boil down to the same thing – Better yourself.

Don’t be like this when you’re making your new year resolution
My goal in 2019 is to achieve the goals I set in 2018 that I should have completed in 2017 as I made a promise in 2016 that I planned in 2015.

Now is a great time to identify new and existing opportunities to grow and get 2020 off to a strong start. For 2020, I have set some achievable goals for myself. Accomplishing these goals will bring myself professional joy and positive growth.

1. Make an Impressive Impact at Work

Make impressive impact at work

Being more productive often stands at the top priority list but actually finding the ways to implement it in everyday life is a different kettle of fish. However, I will try to be proactive about going after what I want and doing things without being asked. I will also make it a priority to work on my productivity by using a time diary to become more aware of how I’m spending my time now. Being more focused is also important as it can take an average of 25 minutes to resume a task after being interrupted.

My strategy focus is to:
UNDERSTAND where am I now.
IMAGINE where I could be.
CREATE my strategic move.

Dare to be different. Don’t settle for the ordinary.

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Tax Relief for Transportation Allowance

Generally, fixed allowances provided by an employer are considered as taxable income while work-related expenses are generally not brought to tax.

Let say you went on an outstation trip and incurred expenses on accommodation, petrol and toll. You spent RM1k and company reimburses you the sum. Since you do not earn any extra, so you won’t be taxed on your allowance. However, if your company gives you RM1.2k, you should bring the difference of RM200 to tax because it’s above what you spent already.

tax allowances

Since Budget 2009, there’s an exemptions for travel/petrol allowances:

Up to RM2,400 for home/office travel
Up to RM6,000 for business travel

Example 1:

If you’re given RM1k allowance for you to travel from home to office, then this entire amount will be exempted in full. But, if you’re given RM4k, RM1.6k will be taxable (RM4k – RM2.4k) since exemption is only up to RM2.4k.

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September 29th, 2010 | 1 Comment | 12,959 views