How to speed up your tax refunds

I just received my tax refund from the Inland Revenue Board (aka income tax / LHDN).

Clincher: in 18 days! That's even better than the publicised commitment of 30 days.

How: e-Filing. Just sign up on their website and you can submit your taxes easily via the web. To encourage citizens to use the web, LHDN is committing to refund all excess tax payments within 14-30 days.

Side note: it's always nice to receive a cheque in the mail box after a weekend of impulsive "buys".

Money Matters: stories from the weekend

The Good: Took my buddies out for a movie. We spent RM22 for 4 tickets on a Saturday night. Made possible with the OCBC Titanium credit card which offers a 1 for 1 on all movie tickets at Cathay Cineleisure. Oh, and Iron Man rocks!

The Bad: Got charged RM1.30 for a glass of warm water at Gurney Drive in The Gardens Mid Valley. Mel and I had a glass each. RM2.60 + 5% tax + 5 sen rounding = RM2.75 just for water! Isn't there a law against this? The Good: we won't be going back there again.

My first rounding adjustment

UPDATE: Bank Negara Malaysia has put up information on the new rounding mechanism (FAQ) - check it for further details

From April 1st, all retail outlets in Malaysia will have to round the total cash sales. If your burger costs RM8.51, then you pay RM8.50.

Here's the simple rule: Round 1, 2, 8 & 9 to 0, while 3, 4, 6 & 7 goes to 5. Got it?