PETRONAS CNY 2014: Young Hearts

And the world’s most beautiful sound belongs to… a frog in Malaysia!

 A frog singing in a pond is not exactly music to the ears, but judges of a competition in search of the most beautiful sound in the world will disagree.

They have chosen a two-minute recording from a Malaysian swamp at dusk to be "The Most Beautiful Sound in the World", an online competition hosted by Beautiful Now, a website to celebrate life's beauty.

Titled "Dusk by the Frog Pond", the clip was recorded at Kubah National Park in Sarawak.

The entry was among hundreds heard by judges, including American musician Bernie Krause, before it was shortlisted to be among the last dozen.

The judges could have settled for many other sound clips, including cats purring, babies gurgling and giggling, and sounds of running water and surf washing over a beach.

But their choice was "a sound of a swamp with a frog singing," Julian Treasure, one of the contest's judges and chairman of the British consultancy Sound Agency, told Canada's CBC Radio.

The frog's croaking, as he put it, is "like a symphony of life just expressing itself".

"The most amazing, rich recording of just life — teeming life. And listening to it you really get the sense of nature at its fullest, and most abundant and most exciting," he added.

To hear the 12 finalists, go to the BeautifulNow website. - January 21, 2014.

Janji Dicapati Dav G Redrum

Najib perlu letak jawatan demi negara

Ernest's Art Exhibition 16 JAN 2014

Tinjauan - bukan kangkung saja tapi keperluan lain juga naik

Ucapan Najib 'kangkung' hangat di alam maya

Cost of Living Comparison Between Kuala Lumpur and Singapore

You would need around 8,331.96S$ (21,436.55RM) in Singapore to maintain the same standard of life that you can have with 8,200.00RM in Kuala Lumpur (assuming you rent in both cities). This calculation uses our Consumer Prices Including Rent Index.

Indices Difference
Consumer Prices in Singapore are 92.68% higher than in Kuala Lumpur
Consumer Prices Including Rent in Singapore are 161.42% higher than in Kuala Lumpur
Rent Prices in Singapore are 327.98% higher than in Kuala Lumpur
Restaurant Prices in Singapore are 116.32% higher than in Kuala Lumpur
Groceries Prices in Singapore are 70.82% higher than in Kuala Lumpur
Local Purchasing Power in Singapore is 13.50% lower than in Kuala Lumpur

Currency: Default Currency      Switch to imperial measurement units

	Kuala Lumpur	Singapore	Difference
Restaurants	[Edit]	[Edit]
Meal, Inexpensive Restaurant	8.59 RM	26.00 RM	+202.61 %
Meal for 2, Mid-range Restaurant, Three-course	53.46 RM	138.32 RM	+158.72 %
Combo Meal at McDonalds or Similar	11.45 RM	18.07 RM	+57.78 %
Domestic Beer (0.5 liter draught)	10.70 RM	17.99 RM	+68.09 %
Imported Beer (0.33 liter bottle)	12.89 RM	21.75 RM	+68.77 %
Cappuccino (regular)	9.20 RM	13.40 RM	+45.63 %
Coke/Pepsi (0.33 liter bottle)	2.13 RM	3.97 RM	+86.31 %
Water (0.33 liter bottle)	1.29 RM	2.80 RM	+117.79 %
Markets	[Edit]	[Edit]
Milk (regular), (1 liter)	5.83 RM	7.41 RM	+26.98 %
Loaf of Fresh White Bread (500g)	3.01 RM	5.26 RM	+74.80 %
Rice (white), (1kg)	3.77 RM	9.37 RM	+148.41 %
Eggs (12)	4.55 RM	6.54 RM	+43.69 %
Local Cheese (1kg)	35.00 RM	47.70 RM	+36.28 %
Chicken Breasts (Boneless, Skinless), (1kg)	11.03 RM	24.44 RM	+121.68 %
Apples (1kg)	7.53 RM	10.82 RM	+43.60 %
Oranges (1kg)	8.32 RM	10.48 RM	+25.96 %
Tomato (1kg)	3.91 RM	9.22 RM	+135.82 %
Potato (1kg)	3.47 RM	7.36 RM	+112.17 %
Lettuce (1 head)	3.08 RM	5.26 RM	+70.88 %
Water (1.5 liter bottle)	2.36 RM	4.27 RM	+81.09 %
Bottle of Wine (Mid-Range)	50.20 RM	80.87 RM	+61.10 %
Domestic Beer (0.5 liter bottle)	9.20 RM	14.78 RM	+60.70 %
Imported Beer (0.33 liter bottle)	11.88 RM	14.30 RM	+20.45 %
Pack of Cigarettes (Marlboro)	10.49 RM	30.91 RM	+194.83 %
Transportation	[Edit]	[Edit]
One-way Ticket (Local Transport)	2.20 RM	4.47 RM	+103.69 %
Monthly Pass (Regular Price)	106.76 RM	260.66 RM	+144.14 %
Taxi Start (Normal Tariff)	3.00 RM	8.35 RM	+178.40 %
Taxi 1km (Normal Tariff)	1.43 RM	1.66 RM	+16.19 %
Taxi 1hour Waiting (Normal Tariff)	26.50 RM	44.79 RM	+69.00 %
Gasoline (1 liter)	2.03 RM	5.46 RM	+169.51 %
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car)	146,627.60 RM	351,636.97 RM	+139.82 %
Utilities (Monthly)	[Edit]	[Edit]
Basic (Electricity, Heating, Water, Garbage) for 85m2 Apartment	141.04 RM	538.27 RM	+281.65 %
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans)	0.29 RM	0.44 RM	+54.25 %
Internet (6 Mbps, Unlimited Data, Cable/ADSL)	147.37 RM	103.60 RM	-29.70 %
Sports And Leisure	[Edit]	[Edit]
Fitness Club, Monthly Fee for 1 Adult	163.13 RM	326.64 RM	+100.23 %
Tennis Court Rent (1 Hour on Weekend)	24.22 RM	31.52 RM	+30.12 %
Cinema, International Release, 1 Seat	13.01 RM	27.63 RM	+112.29 %
Clothing And Shoes	[Edit]	[Edit]
1 Pair of Jeans (Levis 501 Or Similar)	260.55 RM	313.00 RM	+20.13 %
1 Summer Dress in a Chain Store (Zara, H&M, ...)	194.38 RM	176.38 RM	-9.26 %
1 Pair of Nike Shoes	292.57 RM	336.23 RM	+14.92 %
1 Pair of Men Leather Shoes	246.14 RM	337.90 RM	+37.28 %
Rent Per Month	[Edit]	[Edit]
Apartment (1 bedroom) in City Centre	2,293.94 RM	9,117.54 RM	+297.46 %
Apartment (1 bedroom) Outside of Centre	1,360.71 RM	5,906.03 RM	+334.04 %
Apartment (3 bedrooms) in City Centre	3,947.06 RM	16,612.29 RM	+320.88 %
Apartment (3 bedrooms) Outside of Centre	2,028.99 RM	9,581.51 RM	+372.23 %
Buy Apartment Price	[Edit]	[Edit]
Price per Square Meter to Buy Apartment in City Centre	9,760.67 RM	51,026.58 RM	+422.78 %
Price per Square Meter to Buy Apartment Outside of Centre	4,679.41 RM	28,956.14 RM	+518.80 %
Salaries And Financing	[Edit]	[Edit]
Average Monthly Disposable Salary (After Tax)	3,957.24 RM	8,948.48 RM	+126.13 %
Mortgage Interest Rate in Percentages (%), Yearly	5.22	2.40	-54.08 %
Last update	January, 2014	January, 2014
Contributors (past 18 months)	445	569
Currency: MYR

Anthony Bourdain No Reservations Penang

Pulau Pinang jadi pilihan IKEA melabur

Posted on January 10, 2014

GEORGE TOWN, 10 JANUARI: Inter IKEA Group yang memiliki gedung terkenal di Malaysia, Singapura dan Thailand akhirnya memuktamadkan hasrat untuk turut serta memajukan projek pembangunan bercampur di atas tanah seluas 245 ekar di Taman Perindustrian Batu Kawan, Pulau Pinang.
Fasa satu dan dua gedung perabot popular itu akan dibina oleh syarikat Ikano Pte Ltd, manakala, pejabat serta projek perumahan di bawah projek pembangunan bercampur sama akan dibina dengan kerjasama syarikat tempatan Aspen-Ikano, iaitu anak syarikat Aspen Vision Land Sdn Bhd.
Ketua Menteri Pulau Pinang, Lim Guan Eng memberitahu, 30 ekar tanah di Batu Kawan disediakan untuk pembangunan gedung IKEA fasa pertama, diikuti fasa dua projek serupa di kawasan seluas 45 ekar.
Manakala, 170 ekar lagi, katanya, untuk pembangunan bercampur.
“Kos keseluruhan projek itu RM484 bilion (RM483,951,600) dan pembayaran mesti dibayar dalam masa 60 bulan daripada tarikh perjanjian dimeterai.
“IKEA sah datang ke Pulau Pinang. Ini adalah gedung IKEA pertama di luar Kuala Lumpur,” ujar Guan Eng pagi tadi dalam sidang media di KOMTAR.
Guan Eng yang juga Setiausaha Agung DAP berkata, Perbadanan Pembangunan Pulau Pinang (PDC) sudah menerima deposit yang tidak boleh dikembalikan sebanyak RM5 juta.
Pengurus Besar PDC, Datuk Rosli Jaafar, Datuk M Murly (Pengasas dan Ketua Pengarah Eksekutif Kumpulan Aspen) dan Aspen, Datuk Seri Nazir Ariff (Pengasas Bersama dan Pengerusi Aspen Aspen) turut hadir pada sidang media itu.
“Orang Pulau Pinang sudah bertahun menunggu IKEA membuka perniagaannya di sini.
“Dengan kehadiran IKEA, kerajaan negeri berharap PDC akan berjaya dalam usahanya menjadikan Batu Kawan lokasi yang lebih menarik untuk mereka yang berada di bahagian pulau untuk tinggal, bekerja dan berekreasi,” ujar beliau.-Roketkini.com

Is it Asia's turn for austerity?

The U.S. has gone through it, so have Europe and Japan. Now it is Asia's turn to endure a period of austerity, one economist tells CNBC.

Asia, often regarded as one of the world's key growth engines, has seen its economic conditions deteriorate in recent years and must now implement reforms to get back on track, Rob Subbaraman, chief economist for Asia ex-Japan at Nomura said on Wednesday.

(Read more: Ten trends that will shape Asia in 2014: Carnegie )

"This year for Asia needs to be one of austerity," he told CNBC Asia's "Squawk Box." "The U.S. has had it, Europe's had it, Japan's had it, it's Asia's turn. Asia needs to basically raise the cost of capital and implement supply-side reforms which will be painful in the short run."

India and Indonesia came under fire in the second half of last year for holding large current-account deficits and being slow to implement structural reforms.

Some of the Asian economic data at the start of the New Year meanwhile has proven disappointing.

Taiwan exports fell unexpectedly last month, Malaysia's November export data fell well short of expectations and manufacturing and service sector activity in powerhouse China slowed in December.

(Read more: China December HSBC services PMI falls to lowest in over 2 years )

There's also been renewed focus on the risks that high local government debt levels pose to China's economy.

Blessing in disguise

In the wake of the global financial crisis, the U.S. and Europe suffered a recession. Asia's economy held up relatively well, supported in part by ample liquidity following quantitative easing by the U.S. Federal Reserve and robust growth in China.

(Read more: What cuts? US austerity 'tougher than in Europe' )

Subbaraman said that in some ways talk of the Federal Reserve unwinding its monetary stimulus has been a blessing in disguise for Asia by forcing governments to address pressing economic problems.

India and Indonesia have taken steps in recent months to bring down their current account deficits and restore investor confidence. Indonesia last week reported a surprise trade surplus of $780 million in November versus market expectations for a deficit of $70 million.

(Read more: Indonesia surprises with a sizeable November trade surplus )

"The current account improvement we expect appears to have started already. The Indian current account deficit has narrowed sharply, with measures to curtail gold imports playing an important role," analysts at Goldman Sachs said in a note on Friday. "Other things equal, better current account performance should mean less pressure on local rates and currencies from rising developed-market interest rates, though this will clearly remain a concern in 2014."

Subbaraman added that developments such as Malaysia starting to unwind government subsides, China implementing structural reforms were all positive signs.

"In a way Fed tapering is a blessing in disguise for Asia because it's forcing investor discipline on policy makers now to do the right thing," he said. "Investors are focused on risks in emerging markets and if they don't do austerity, the risk is we wait till 2015, debt bubbles get bigger, then when the Fed starts raising rates, it will be a worse."

- By CNBC.Com's Dhara Ranasinghe; Follow her on Twitter @DharaCNBC

Strategy of saving your Income TAX

1) Save for your Child’s Education

• Since 2007 , any amount that is deposited into a savings account for your child under national Education Savinds Scheme ( Skim Simpanan Pendidikan Nasional ) allows you to claim tax deductions.
• Thers is a limit of RM 3000 for this deduction but spouse who file separate tax returns can each claim this amount .
• Tax Deduction : RM 3000 per individual
• For Mr A : As he falls in the 24% tax bracket , this deduction translates to a tax saving of RM 720 ( RM 3000@24%)

2 ) File Separate tax returns

• A separate assessment allow each spouse to claim personal tax relief of RM 8000 while a joint tax return allows one spouse to claim a wife or husband relief of RM 3000
• Tax Deduction : Each spouse earning Taxable income can claim personal tax relief of RM 8000 by filling separate tax returns. 

3) Ask your employer to increase your EPF contributions

• Contributions to the employees Provident Fund (EPF) by employers are tax-exempt for the employees.
• To reduce your taxable income , ask your employer to reduce your EPF monthly salary but increase your EPF contributions by the same amount.
• Tax Deduction : The deductible amount from your taxable income is dependent on the arrangement between you and your employer.
• For Mr A : Mr A agrees to takle monthly pay cut of RM 1000 for an equivalent increase in his EPF contributions by his employer.At the end of the year , he receives an additional RM 12000 in his pension fund but his taxable income is reduced by the same amount.
• The tax saving that he makes is RM 2880 ( RM12000@24%)

4) Change your cash remuneration to cash reimbursement

• Fixed allowances given by your employer each month for entertainment and housing or parking fees are taxable at your tax bracket.
• Change this to a “ reimbursement “ based on receipt and you are not taxed on the amount received.
• Tax Deduction : The deductible amount from your taxable income is dependent on the arrangement between you and your employer
• For Mr A : By Changing a yearly fixed allowance of RM 6000 to a reimbursement of the same amount and supported by receipts , Mr A makes a tax saving of RM1440 ( RM 6000@24%)

5) Ask for a company car

• A car given by your employer is regarded as a benefit-in kind ( BIK ) and taxable.
• However , a company car is advantageous for taxpayers because the preset tax scale for cars is much lower than the actual cost of buying and maintaining a car.
• According to the Public ruling for BIKs , the tax payer must pay RM 3600 in taxes every year, for a car worth RM 75000
• If the employer pays for fuel , the tax payer is taxed an additional RM 1200 for this BIK
• Tax deduction : Whether you benefit from a company car depends on the value of the car and your current tax bracket. Do the calculations to ascertain your tax deduction.

6) Make charitable contributions

• A gift of money to an approved charitable organisation entitles you to a tax deduction for the amount given.
• From 2008 onward , this amount cannot exceed 7% of your aggregate income.
• However Charitable donations that were made in 2007 are not subject to this limit.

• Tax deduction : Up to 7% of your aggregate taxable income can be reduced with this deduction.
• For Mr A : With his taxable income of RM 90000 , Mr A can make a donation of RM 6300 .This deduction results in a saving of RM 1512 ( RM 6300@24%)

7) Take Up postgraduate studies

• A relief of RM 5000 per year for any course of study at the Master’s or doctorate level , the government announced in 2007 Budget the widening of the scope to all postgraduate studies.
• The course does not have to be done full time , but “ must be in an institution or professional body in Malaysia recognised by the government or approved by Minister of Finance
• Tax Deduction : RM 5000 per individual
• For Mr A : As he completes his master’s degree . Mr A can enjoytax saving RM 1200 from his taxable income ( RM 5000@24%)

8) Read  more

• Starting from YA 2007 , taxpayers can claim a personal tax deduction to RM 1000 for purchase of books, journals , magazines and other publications.
• To maximise this generous deduction , consider giving books as gifts.
• Tax Deduction : RM 1000 per individual
• For Mr A : With book purchases of RM 1000 Mr A saves RM 240 ( RM 1000@24%)

9) Get Sporty

• You will get a deduction of RM 300 for each year of assessment for the purchase of sports and exercise equipment for any sports activities defined under the Sport Development Act 1997 “
• Tax Deduction : RM 300 per individual
• For Mr A : By buying RM 300 worth of sports equipment , Mr Amakes a saving of RM 71 ( RM 300@24%)

10) Buy Life Insurance

• The maximum tax relief is RM 6000 a year for premiums paid to an insurance company for life Insurance or deferred annuity plans.
• This Limit is shared with your contributions to the EPF, other employer schemes and contributions under any written law relating to widows or orphan pensions
• Tax deduction : RM 6000 per individual ( shared with your EPF contributions )

11) Take out a Medical or Education policy

• You can claim deductions of up to RM 3000 a year for education and medical insurance ( combined limit for both )
• This includes medical coverage that is part of life insurance policy( the limit for life insurance is in move 10 )
• A policy of this kind can be written for you , your spouse or your child.
• Tax deduction : RM 3000 per individual
• For Mr A :After acquiring an education policy for his children , Mr A makes a saving of RM 720 ( RM 3000@ 24%)

12) Pay your parents’ medical bills

• You are able to claim up to RM 5000 for payments towards your parents’ medical bills.
• Tax deduction : RM 5000 per individual
• For Mr A : By paying his parents’ medical bills , Mr A makes asaving of RM 1200 ( RM5000@ 24%)

13) Medical 

• Claim a deduction of up to RM 500 per tax year for a full medical examination and RM 5000 for medical expenses for yourself, spouse or child for serious disease.
• If you have also spent money on full medical in the same year, your claim will be reduce the RM5000 available for serious disease.
• A separate tax reduction of up to RM5000 a year is given for necessary basic supporting equipment for disabilities suffered by yourself ,spouse, children or parent
• Tax Deduction : RM 500 per individual for full medical check-up.RM5000 for serious diseases or basic supporting equipment 
• For Mr A : He claimed for a full medical check-up .The deduction give him of RM 120 ( RM 500@24%)

14) Pay Zakat

• If you are a muslim ,paying any amount in zakat , fitrah or other obligation Islamic dues will entitle you to a tax rebate.
• Tax deduction : The Amount of zakat that you pay

15) Buy a Computer

• A deduction of up to RM 3000 can be claimed once every three years for the purchase of computers , printers and bundled software .
• The similar i9ncentive given previously in the form of a tax rebate was withdrawn with effect from 2007
• Tax deduction : RM 3000 once every three years.
• For Mr A : Getting a computer for RM3000 gives him a saving of RM 720 ( RM 3000@24%)

16) Hire a Tax Consultant

• Consider hiring a tax consultant to explore ways your remuneration package can be structured to maximise your tax savings.
• Those who are earning at least RM5000 every month should be able to justify the cost of hiring a tax adviser with their tax savings
• Tax saving : this is dependent on your personal circumstances and the deal that you negotiate with your employer.

Tax – Savvy Investments

• You may be looking at some investment this year.
• There are savings to be made from certain investments , from a tax point of view.
• However , some moves may be advantageous if you fall into a higher tax bracket.
• Besides looking for tax-exempt investment , here are four investment moves to explore

17) Buy property valued below or at RM250000 

• Stamp duty must be paid on all property transactions that involve a change of legal ownership.
• Last year’s budget ( 2008 ) announced a 50% stamp duty exemption for the purchase of houses that do not exceed RM250000
• The maximum tax savings that can be found here is RM2000 ( for a house worth RM250000 )
• This exemption is only given for one house per individual and applies to sale and purchase agreement signed between September 2007 and December 2010

18) Buy Similar property

• Similar property can be grouped together for income tax purposes.
• The IRB has indentified categories such as residential , commercial and vacant land.
• If you own two property in the same category , you can reduce the taxable profit made from one property with the loss, if any incurred from the other.
• Property investors are also exempt from real property gains tax for all disposals on on or after 1^{st April 2007.}
• ^{However , taxpayers who are trading property – buying and selling in order to generate income – are liable to income tax.}
• ^{“ This exemption is meant for taxpayers who invest in property for a passive income”}
• ^{Tax deduction : Taxable income received from renting out a property in a particular grouping such as residential can be reduced if a loss was incurred by another property in the same group.}

19) Buy shares

• Invest in dividend-yielding shares if your tax bracket is above 26%.
•  A new single-tier system was established under the national Budget for dividends received by shareholders. 
• Companies pay tax of 26% (YA2008) and shareholders receive a net dividend that is exempt from tax and does not need to be filed with the IRB “Shareholders who fall into higher tax brackets [higher than 26%] are essentially [getting a] saving on the difference.
• “The single-tier dividends is intended to simplify the tax filing process for individuals,” says Chua Tia Guan, executive director and head of tax and financial planning at Great Vision Wealth Management Sdn Bhd.
• “In the past, refunds had been slow. From now on, there is no need to declare or apply for a refund. And as corporate taxes are falling, companies will be able to pass on more profits to their shareholders [in the form of dividends],” he says.
• However, not all companies will go under the single-tier system immediately as some of them might have imputation tax credits left, which they can use till 2013.
•  Shareholders who receive dividends from companies using the imputation system will have to report the amount received and claim a tax refund if his personal tax rate is lower than the company’s tax rate (27% in YA2007, 26% in YA2006). 
• Shareholders can identify the system used by the company as it is stated in the dividend vouchers.
• Tax Deduction : Your tax saving is the difference between your tax bracket and 26% (the corporate tax rate). This is only applicable to dividends given out by companies using the single-tier system. 

20) Invest in REITs 

• You can go into real estate investment trusts ( REITS )if your tax bracket above 15%.
• There are 11 REITs listed on the Main Board.
• The tax on dividends given out by these property-related investments are taxed at 15% as compared to tax on dividend at 26% ( under the new single –tier dividend system )
• Only tax brackets exceeding 15% would enjoy some tax savings by investing in REITs
• Since the distributions received by individual taxpayers have been subject to that 15% , the taxpayers are not required to declare the amount in their tax return.
• Tax deduction: Your tax saving is the difference between your personal tax bracket and 15%

Moves for Business Owners

• The first rule that small-business owners should implement with regards to their taxes is to take it seriously.
• Spend some time strategising for your business activities to save hundreds or thousands ringgit.
• Here are six

21) Maintain books and records from Day 1

• Keep separate bank accounts for personal and business transactions and establish a basic accounting system.
• The inland Revenue Board recognises business income on an accrual basis .
• This means that as long as a transaction is completed, either a sale of goods or a provision of service , its value is immediately treated as business income and is taxable.
• However , unpaid transaction can be reduced your taxable income.
• Any expenses made fro the business can be deducted from the business income.
• The General rule is that expenses can be deducted if it is wholly and exclusively incurred in earning your business income.
• So Keep the receipts for all supplies that you buy for your business
• However there is no deduction for capital expenditure although some assets will qualify for tax relief by way of capital allowances

22) Time the purchase and use of your fixed assets

• Capital allowances are permitted for certain business assets such as equipment , machinery , vehicles computers and software.
• The amount of allowances permitted each year depends on the category that asset falls into .( refer to Public Ruling No 2/2001 for the deductible rate of your assets.
• The first capital allowance is given for the accounting year in which the asset was purchased and used by the business.
• If you are contemplating a purchase , try to do it before the end of the accounting year, instead of just after , to claim the capital allowance against your business income.
• If you are buying the asset with a hire-purchase loan, allowance can only be claimed as and when repayments are made to the lender.

23) Buys a company car 

• If you are a sole trader or a partner in a business, any car or vehicle that is used for business purposes can bring about tax deductions.
• “The business income is reduced by the car’s financing cost if you buy the car on hire-purchase.
• You are also deduct a certain amount for capital allowances every year,
• Before implementing this tax-saving technique, business owners must identify a percentage of the car’s use that is for private activities.
• As there is no definite ruling on how to determine this proportion for private use, business owners must apply a fair and reasonable figure that can withstand scrutiny.
• “Estimating private mileage is an exercise that must be undertaken in accordance to the facts on your actual usage.
• And remember to record all running expenses to make these deductions,” says Thornton. 

24) Hire your spouse or family member 

• An effective tax-saving strategy is to hire a spouse or family member.
• “For example, a husband who is a business owner can hire his wife. The wife’s salary is tax deductible but you must be able to show that she is doing something to earn it,
• In this situation, you would have to contribute to your wife’s Employees Provident Fund (EPF) savings and that amount entitles her to tax relief.
• Another option is to make your spouse or family member a partner in your business.
• This allows you to divide the income made by the business between the both of you.
• As a partnership has no tax liability, both partners are liable for tax for the respective portion of business income that each earns.
•  “By opting for separate tax assessments, a husband and wife who are partners in a business can each claim individual tax relief.

25) Implement a process to ‘chase after’ unpaid debts 

• Unfortunately, small business owners can complete a sale or service but might not receive payment, in full or in part.
• At the end of an accounting year, a debt, which is estimated to be wholly or partly irrecoverable, can be deducted from your business income and this lowers your tax bill.
• “Tax authorities tend to look closely at bad-debt write-offs and provisions (for debts that are expected to be partly recoverable).
• So put in some effort to recover the debt before deeming it irrecoverable and you must evaluate each debt separately.
• The process that you put in place to recover your unpaid debts should be documented and any conclusion that you make should be supported with documentation as well.
•  For example, you must show why it it not cost effective to take legal action against a customer.
• However, if you eventually recover bad debts that have been written off or partially written off, you must include this amount in your taxable income for the year that you received payment.

26) Dedicate a space in your home office