Why Singapore's Tax System is BETTER Than Malaysia's

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Between average Malaysians and Singaporeans, who is paying more taxes? 🔴 𝗦𝘁𝗮𝗿𝘁 𝗜𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗜𝗕𝗞𝗥 ➡️ www.interactivebrokers.com/mk...
🔴 𝗦𝘁𝗮𝗿𝘁 𝗜𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗜𝗕𝗞𝗥 ➡️ www.interactivebrokers.com/mk...
⬇️ Timestamps:
0:00 → Introduction
0:44 → Personal Tax
5:31 → Capital Gains Tax
6:44 → Property Tax
9:20→ Corporate Tax
13:11 → Ads Break
14:04 → Conclusion
We have Ali from Malaysia and Xiao Ming from Singapore, both middle-class income earners, now who's paying more tax? We illustrate how their respective tax systems affect their take-home pay. Surprisingly, working in Singapore appears to offer a slight edge in taxation terms, despite the differences in tax reliefs provided by each country.
Then, we explore capital gains tax, revealing that as of now, neither Malaysia nor Singapore imposes a general capital gains tax, although Malaysia will introduce a new tax on unlisted company shares in 2024, it doesn't really affect retail investors like you and me. As for property tax, we are highlighting Malaysia's high Real Property Gains Tax for early sales and Singapore's annual value-based property tax system. The comparison shows that Malaysia's property tax system is more lenient, but Singapore's property market offers long-term stability.
Let's not forget we also have corporate taxes, and in this case both countries offer quite attractive rates and exemptions, but Singapore's flat tax rate and additional incentives make it a more favorable environment for businesses. To be frank we all know many large companies are choosing Singapore as their regional headquarters so that may be something that Malaysia can take their reference to!
In short, the choice between working in Malaysia or Singapore isn't solely about tax rates. Factors like lifestyle, cost of living, and the unique offerings of each country also play a role in your decision. After all, we are not competing with each other to produce a winner, but learning from the successful example and think of what we can do better! Be a proud guy of your country!
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Disclaimer: This content is provided by a paid Influencer of Interactive Brokers. Influencer is not employed by, partnered with, or otherwise affiliated with Interactive Brokers in any additional fashion. This content represents the opinions of Influencer, which are not necessarily shared by Interactive Brokers. The experiences of the Influencer may not be representative of other customers, and nothing within this content is a guarantee of future performance or success.
None of the information contained herein constitutes a recommendation, promotion, offer, or solicitation of an offer by Interactive Brokers to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Investment involves risks. Investors should obtain their own independent financial advice and understand the risks associated with investment products and services before making investment decisions. Risk disclosure statements can be found on the Interactive Brokers website.

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Опубликовано:

2 июн 2024

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Комментарии : 70

@ZietInvests 5 месяцев назад

Does that change your mind of working / having business in SG or MY? I'm still gonna stay in Malaysia lah🤪

@sinkorswimchimmy6786 4 месяца назад

since half of your asset is US based , is it better to be in the US to escape the withholding tax ?

@HairoHeria 5 месяцев назад

someone at LHDN should implement that tax calculator feature

@ZietInvests 5 месяцев назад

Right?! But actually got some private calculators, not the best, but definitely need a master version from LHDN

@wallstreetzoomer 4 месяца назад

Great video man, informative and concise. Hopefully the Johor-Singapore SEZ might offer a tax environment similar to that of Singapore. Maybe your next video idea haha.

@ZietInvests 4 месяца назад

Thank you so much my friend! Good idea actually....let me explore that hehe!

@Humorousguy64 5 месяцев назад

Very clear commentary..cheers

@ZietInvests 2 месяца назад

thank you!

@edwardyong457 5 месяцев назад

This rly answers my decision on working in SG or MY as a fresh graduate from your question in the beginning. But I also end up staying in MY for now.

@ZietInvests 5 месяцев назад

Glad it did! Are you happy with your decision till now?😁

@samuelzev4076 5 месяцев назад

Interesting video Ziet. Very well clarified. Question, because Singapore has a relatively low tax rate and they don’t charge on capital gains, can i move the money i earn from selling shares on ibkr to Singapore as a way or reducing my taxes and not get taxed by my government? Have you ever tried moving your wealth to Singapore to stop the Malaysian government from taxing you pr at least reduce it significantly?

@ZietInvests 5 месяцев назад

Thanks you samuel! Transferring money to SG for tax benefits sounds good, but it's not as "simple" as it seems. Though to be frank I have never done that before (moving money for tax benefits), too much to risk considering im building my company and at the stage in life to risk too much for that. But to answer your question, it seems like the capital gains you're talking about is actually not taxable in both SG and MY, so I (personally) don't see why it would be an issue for LHDN (but bear in mind an audit is likely for large sum of money moved cross-border), and at this point i think a tax advisor would be in a better position to advice you on this. Hope this clarifies!

@CM-be2gs 5 месяцев назад

Very informative content sharing thanks alot Ziet. I always have this point to raise to Malaysia IRB on the tax bracket applying now, is the same bracket used since many many years ago, and the value in the bracket does not reflect the real income , for example a person earning RM10k 10 years ago is paying the same rate as the person earning RM10k now, but the real value of RM10k have depreciated greatly due to yearly inflation , BUT the value in the tax bracket have NOT move at all right? This is very unfair as the purchasing power of the guy earning RM10k now is much much much much weaker than the guy earned the same 10 years ago! Same like the so called B40,M20, T20 table , if the table not revised, after 20 years almost everyone is T20 or M20 no one is B40 but does it means the T20 is really "rich" , hence deserve to to Taxed at such high % of their income? So my whole point is why no one challenge the government / MOF/ IRB on this matter? The T20 isn't as "rich" as the government defined now that they deserved to be reaped so much from their income . Many people don't realize this outdated tax bracket issue but I personally it is a big issue for those so called T20 on the unbalanced social treatment. I hope you can do a video to raise awareness on this issues hopefully it can reach someone that can correct this. I know this is a unpopular topic for government because of affecting their tax income but citizens higher purchasing power would inject back to the economy as well.

@edwardpereira5315 5 месяцев назад

You spot on the retirement fund. There are no caping on EPF contribution for employer and employee, CPF has. Can help to do comparisons dollar to dollar how much retirement fund an ordinary person at the age of 55 or 60. Tq

@travelwithtaits2868 5 месяцев назад

Hello Ziet! Please suggest what’s the best way to fund IBKR from Malaysia? Should I just transfer from Malaysian bank? Or better to open wise and transfer dollars? Thanks in advance!

@ZietInvests 5 месяцев назад

Hello! Wise is definitely the easiest and fastest way to do it, but is slightly more expensive compared to having a SG bank account where you send to IBKR SG and convert it to USD inside IBKR. Can check out my IBKR playlist for those tutorials!

@travelwithtaits2868 5 месяцев назад

We used to do bank transfer from Malaysian HSBC account in ringgit to deposit TD Ameritrade. So we can’t do the same with IB?

@ZietInvests 5 месяцев назад

@@travelwithtaits2868 Deposit in Ringgit? Hm...you might actually be sending via Foreign Telegraphic Transfer which converts to USD at a cost (without your knowledge), coz i dont think IB or TD Ameritrade accepts Ringgit by default - please do check!

@Yuji3018 5 месяцев назад

could someone enlighten me what does the personal relief 9000myr includes of? really appreciate if someone share a link related to the personal relief of 9000 myr, thank you in advance

@ZietInvests 5 месяцев назад

It’s the incentive for resident individuals! Here you go: www.pwc.com/my/en/publications/mtb/personal-income-tax.html

@sinkorswimchimmy6786 4 месяца назад

For Malaysian citizen residing in JB now, dividend income from Singapore is taxable in Malaysia? to be specific , I got dividends from owning DBS shares.

@ZietInvests 4 месяца назад

Hey there, regarding your dividends from DBS shares, Malaysia generally has a territorial tax system which means only income earned within Malaysia is taxable. However, for Malaysian residents, foreign-sourced income received in Malaysia may be subject to tax except for certain types of income, including dividends, which are exempted (until 31 dec 2026). Best to always consult with a tax professional too ya!

@kkhalifah1019 2 месяца назад

If you made money from stock trading, wouldn't you still have to declare it as income in your annual income tax filing? The last time I exercised my stock options, I had to pay in the form of income tax on it.

@ZietInvests 2 месяца назад

Good question! Stock options should be under ESOS which is taxable, but foreign investments income - as far as i know aren’t taxable until end of Dec 2026. So it’s still a grey area which does not clearly define everything (pls correct me if im wrong!)

@cocaineminor4420 5 месяцев назад

Both country have it's advantages and disadvantages For example my country Singapore Is a small land so it might be boring sometimes that's why we usually travel every year.

@ZietInvests 5 месяцев назад

Gotta agree with that - everything comes with its pros and cons

@vister6757 5 месяцев назад

It doesn't matter as long as you can afford travelling to many places for a reasonable budget unlike Malaysian with the myr dropping like crazy it's getting more expensive to travel to places like Europe, the US, Tokyo, and the like ..and everywhere else! Even Thai baht strengthens against myr over the years. against

@tanky815 3 месяца назад

got money where got boring one?

@Utube1024 3 месяца назад

I used to have account IB many in the 90s when they have offices in HK but not in SG. They are deep discount broker no doubt about that. Heard their trading platform now is very complicated to use unlike olden days. Do they have MT4 platform where can use robot to trade Forex?

@izwanizi 5 месяцев назад

Bro..How about GST...? And Malaysian still using that ancient SST compared to Singapore..

@ZietInvests 5 месяцев назад

You've got a point! Singapore's GST system is pretty streamlined like most advanced economies, while Malaysia's SST is somewhat outdated, but each have its pros n cons...perhaps looking at them in parallel with the current political situation would make some sense as to which wins the votes 🫣 *runs away*

@ChowYewLoon 5 месяцев назад

Majority Malaysians still stuck in lower and middle income! That's why GST doesn't work!

@chuageokseng2168 5 месяцев назад

@@ChowYewLoon GST burdens a lot to B40M40. GST is suitable to high income country.

@huzafah_ 5 месяцев назад

BRO WHO MADE RESEARCH FOR YOUR VIDS??

@ZietInvests 5 месяцев назад

We did research collectively with the team members over weeks 😊

@hermanweiss8158 5 месяцев назад

Kuala Lumpur should be ranked higher when it comes to public transport IMO. I personally experienced some of the countries above it and its nowhere as good.

@L3v3F4l4stin4 3 месяца назад

Really?. From KLIA, can I ride the LRT to KLCC?

@user-sf5bt8eb4y Месяц назад

you forgot to add NSmen relief for Singaporean guy

@ChowYewLoon 5 месяцев назад

RM4000 and SGD3000 I choose SGD3000! I used to work in Singapore but I come back to Malaysia for others reason not SGD!

@Coco762011 5 месяцев назад

The two big-ticket items in Singapore - property and cars (and incidentals tied to its usage e.g. petrol, road tax, COE) - negates all the “tax-savings”. Not forgetting also the high prices of daily essentials Singapore residents pay - passed down due to very high costs of rentals, labour, imported raw materials, GST, etc.

@anziar3038 5 месяцев назад

The various international rankings show that s'pore is far ahead of m'sia in many areas.

@ZietInvests 5 месяцев назад

Can’t argue with that!

@tankman20064 5 месяцев назад

How about SG govt give quota for malaysia workers soon ? 😂😂😂😂😂😂😂😂😂😂😂.

@SivalinPuthery 5 месяцев назад

Time that you Malaysians stop comparing to Singapore and start looking at countries with the same population and resources profile, such as Australia. And then you would realize how far you have been left behind

@hasinabegum1038 5 месяцев назад

Australia has far more resources with smaller population and Malaysian economy is growing faster

@MasterAnt2023 5 месяцев назад

Not true. Sg car tax (coe) is crazy.

@ZietInvests 5 месяцев назад

True, but at least you get to enjoy the world's most expensive car rides😂 (jk pls dont hate me)

@Adrian-np8vl 5 месяцев назад

Try living and retiring in SGP . You will see which is better.

@ZietInvests 5 месяцев назад

They say retiring in SG is like playing a game on hard mode 👀

@ChowYewLoon 5 месяцев назад

It's the same everywhere. You need to look for a lower cost countries to retire! In Malaysia it's better to retire in sub urban town than to retire in a city! I work in KL and I retired now in Sungai Petani comfortably!

@Humorousguy64 5 месяцев назад

Come Singapore to make money is the correct way after conversion of money ..for retirement no ...better retire in your country but must save enough from your hardearn money here

@Utube1024 3 месяца назад

Retire in Vietnam better. So many exciting services.