MONEY MASTER

The US which has just lost the pole position to Switzerland in the Global Competitiveness Report not long ago slips another two places in the latest report by the World Economic Forum, overtaken by Sweden and Singapore. Malaysia also slipped 2 places while the United Kingdom which has recently slipped move back up by one place to 12th position. Click on Read More to get the full list of The Global Competitiveness Report 2010-2011 by World Economic Forum . Country/Economy GCI 2010 GCI 2009 Change 2009-2010 Rank Score Rank Switzerland 1 5.63 1 0 Sweden 2 5.56 4 2 Singapore 3 5.48 3 0 United States 4 5.43 2 -2 Germany 5 5.39 7 2 Japan 6 5.37 8 2 Finland 7 5.37 6 -1 Netherlands 8 5.33 10 2 Denmark 9 5.32 5 -4 Canada 10 5.30 9 -1 Hong Kong SAR 11 5.27 11 0 ...

While watching World Cup and with the pay day coming in within a week, I'm thinking maybe I should do some write up on how the PCB or STD (Scheduled Tax Deduction) is calculated monthly as this has been a question mark for me whenever I am planning the budget for the subsequent month. Most people will have doubt on how the PCB or STD is calculated especially during the bonus month. In fact, most of us will be anxiously to know the tax deduction to have proper view how much we can spend during that month. So, it is always best for us to know how the PCB are calculated so that we can plan ahead. Here is how our STD or PCB are calculated. Assuming person E is single and is drawing monthly salary of RM3,000 and contributing 11% from his monthly salary to EPF. Salary = RM3,000 EPF deduction = RM330 (Note: The maximum total EPF deduction allowed for PCB or STD calculation is RM500 (RM6,000 / 12 = RM500)) Salary for PCB calculation = Gross salary - EPF deduction = RM3,000 - RM330 = RM...

When you look at your payslip every month since the second half last year, do you realized that the Scheduled Tax Deduction, STD (or Potongan Cukai Bulanan, PCB) is higher compare to previously? I, myself realized that and after doing some research I realized that the Inland Revenue Board (IRB) of Malaysia (or Lembaga Hasil Dalam Negeri, LHDN) has come out with higher rate back then. This year again, we will have new PCB rate and the rate is lower compares to the 2009 PCB rate. Click the links below to get the rate for both PCB 2009 and PCB 2010 and do some comparison. Click here to download the PCB 2009 rate Click here to download the PCB 2010 rate I might be posting on how to calculate the PCB or STD in the future.