Thannees Tax Consulting Services Sdn Bhd’s Post

This newsletter discusses the tax proposals that the government is likely to introduce on Budget Day as part of the 2025 Tax Plan package, as well as a number of other tax legislative amendments to be introduced in 2025. #TaxPlan #Prinsjesdag #Tax

This newsletter discusses the tax proposals that the government is likely to introduce on Budget Day as part of the 2025 Tax Plan package, as well as a number of other tax legislative amendments to be introduced in 2025. #TaxPlan #Prinsjesdag #Tax

#ITRFiling for FY2023-24: Eligibility and Procedure for switching between Old and New Tax Regimes A person deriving #income from business or profession who has exercised the option of opting out of the prevalent new tax regime u/s 115BAC could exercise the option of opting back to the said new tax regime only once. #ITR #TaxRegime #Taxation Click here to know more! 👇

This newsletter discusses the tax proposals that the government is likely to introduce on Budget Day as part of the 2025 Tax Plan package, as well as a number of other tax legislative amendments to be introduced in 2025. #TaxPlan #Prinsjesdag #Tax

This newsletter discusses the tax proposals that the government is likely to introduce on Budget Day as part of the 2025 Tax Plan package, as well as a number of other tax legislative amendments to be introduced in 2025. #TaxPlan #Prinsjesdag #Tax

One often overlooked aspect of taxation is understanding the rules surrounding self-employment taxes. Determining what qualifies for this tax can be complex, but thorough tax planning can address many of these challenges. For instance, being classified as a limited partner, thereby exempt from self-employment tax, requires careful navigation. Incorporating this into a comprehensive tax plan is essential. Overlooking these details can lead to unnecessary expenses and avoidable taxes. Proper planning is key! #TaxPlanning #Tax https://lnkd.in/egU2tDVS

EY Tax Alert: Proposed modifications to the enhanced trust reporting requirements and post-mortem tax planning by a trust The proposed income tax technical legislative amendments released on 12 August 2024 by the Department of Finance provided some welcome news with respect to the enhanced trust reporting requirements and existing limitations in post-mortem tax planning strategies commonly undertaken by certain trusts. Careful reading of the proposals is recommended, as certain categories of bare trusts will still be required to file starting again in 2025 after the proposed one-year legislative repeal. In this Tax Alert, we provide a brief overview of the proposed amendments. Learn more in our latest Tax Alert.

This newsletter discusses the tax proposals that the government is likely to introduce on Budget Day as part of the 2025 Tax Plan package (for example the expected increase from 20 to 25% in the earningstripping rule), as well as a number of other tax legislative amendments to be introduced in 2025. #TaxPlan #Prinsjesdag #Tax

Many of the 2017 Tax Cuts and Jobs Act (TCJA) tax provisions are set to expire by December 31, 2025. Don't miss out on taking advantage of these provisions. 👇 #TCJA #TaxProvisions #TaxPlanning

Many of the #Tax Cuts and Jobs Act (#TCJA) tax provisions will unwind next year. Add to that an upcoming election, and uncertainty around tax policy changes is top-of-mind for many. More below: