TAX QUESTIONS? YOU ASK LAH!

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Q: I have retired, and I am transferring my money in Singapore’s CPF account back to Malaysia. Will this money be taxed in Malaysia?

A: One of the tax exemption conditions for foreign sourced income brought into Malaysia is that the income has been given tax incentive in the country of origin. If the money withdrawn from the CPF account is tax exempted in Singapore, this money brought back will be tax exempt in Malaysia. 

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

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