TAX EXEMPTION

Charity begins at home. Charity will also help you reduce your income tax.
Subsection 44(6) ACP 1967 provides a DEDUCTION for any cash donations to an APPROVED institution or organisation which is NOT operated or conducted primarily for profit. However, this deduction is limited to 7% of Aggregate Income for INDIVIDUALS in the relevant year and 10% of Aggregate Income for COMPANIES in the relevant year (only applicable to those living and working in Malaysia).

We are pleased to inform that Borneo Ecotourism Solutions and Technologies (BEST) Society (Approval No: LHDN.01/35/42/51/179-6.6721) is an APPROVED organisation under Subsection 44(6) ACP 1967.

If you wish to donate to BEST Society, please take note that donations are received in cash OR through online bank transfer, cheque, telegraphic transfer / postal order / bank draft.

ORGANISATION NAME (ENGLISH):Borneo Ecotourism Solutions and Technologies Society
ORGANISATION NAME (BAHASA):Pertubuhan Teknologi dan Penyelesaian Ekopelancongan Borneo
NAME OF BANK:HSBC Bank Malaysia Berhad
BANK ADDRESS:56 Jalan Gaya, Kota Kinabalu, 88000, Sabah, Malaysia
ACCOUNT NUMBER:392-347662101
SWIFT CODE:HBMBMYKL

NOTE : Only CASH donations supported by official receipts will qualify for tax deduction. Donation in kind (e.g. food, clothing, computers, property, shares and building materials) will NOT qualify for tax deduction.

Example 1 (For Individuals):

Individual A has an aggregate income of RM 100,000 for the year 2015. He or she makes a cash donation of RM 8,000 to an approved institution. His or her deduction for the donation in the year 2015 is as follows:

RM
Aggregate Income100,000
Less : Approved Donations
Approved Institution – RM 8,000 (Restricted to 7% of Aggregate Income)(7,000)
Total Income BEFORE Less Personal Reliefs93,000

NOTE : Although the donation of RM 8,000 was made, only RM 7,000 is deductible because of the 7% of aggregate income restriction.

Example 2 (For Companies):

Company A has an aggregate income of RM 300,000 for the year 2015. It makes a cash donation of RM 35,000 to an approved institution. Its deduction for the donation in the year 2015 is as follows:

RM
Aggregate Income300,000
Less : Approved Donations
Approved Institution – RM 35,000 (Restricted to 10% of Aggregate Income)(30,000)
Total Income Subject to Tax270,000

NOTE : Although the donation of RM 35,000 was made, only RM 30,000 is deductible because of the 10% of aggregate income restriction.

For more information, please visit Inland Revenue Board of Malaysia website at www.hasil.gov.my or contact us at info@bestsociety.org.

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