I AM a retiree and my savings are invested in the share market. I depend on the dividends to ease my financial burden. As a retiree, I pay minimal income tax. Every year the tax deducted from my dividends is in excess of the income tax payable. Every year I had claimed this money taxed in excess.

But this year the Inland Revenue Board switched to the single-tier tax system. Whatever merits this system may have, it has a terrible flaw, as far as retirees are concerned. Under the system, retirees cannot claim the excess tax on dividends. This has cruelly robbed us of money which is ours and which we need to survive in these tough times. How can this be allowed to happen?

I appeal to the government to find a way to rectify this gross injustice and to do it fast as Year of Assessment 2008 will be upon us soon.

G.C.
Petaling Jaya

Source: The Sun – June 30, 2008