Wednesday, 5 February 2020

Individual Tax Reliefs: Yay or Nay

The Tax season is just around the corner. Let's take a look at some of the claims that are eligible to be claimed for a Malaysian Tax Resident Individual for the Year of Assessment 2019.

a) Self and Dependent relatives - RM9,000

b) Spouse/payment of alimony to former wife - RM4,000

c) Each unmarried children below 18 years old - RM2,000

d) Each unmarried children above 18 years old & receiving further education - RM8,000

e) Disable child and disable individual - RM6,000

f) Disable spouse - RM3,500

g) EPF contributions - RM4,000

h) Breastfeeding equipment - RM1,000
     * Child 2 years and below and claimable only for women tax payers once every 2 years

i) Child care fees- RM1,000
    * must be a registered child care centre and claimable for child 6 years and below

 j) Sosco - RM250

k) Life Insurance - RM 7,000 (Pensionable Public servant category)
                             - RM3,000 (Other than Publis servant category)

l) Medical Expenses - RM6,000 (For serious disease)
                                  - RM500 (Full medical examination) 

      For Parents          - RM 5,000 (For parents undergoing treatments/special needs)
                                  - RM1,500 (For mother) 
                                  - RM1,500 (For father) 

m) Private Retirement Scheme - RM3,000

n) Education and medical insurance - RM3,000

o) Education fees - RM7,000 

p) Net deposit is SSPN - RM8,000

q) Lifestyle - RM2,500 (includes reading materials, Purchase of PC, Smartphone/Tablet, internet bill and sports equipment.) 

r) Supporting equipment - RM6,000 (For disable self, child, spouse or parent)

Happy BE filing everyone! :-)

Lochana Nanthacumar
Content Management Analyst
Wolters Kluwer Malaysia 

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