It's the period of the year again when we have to do that tax submission. Hate it or love it, it is still something that we as the rakyat have to dutifuly comply as a citizen of Malaysia.
Here is some tax rebates/relief info that you should not forget to consider:
Here is some tax rebates/relief info that you should not forget to consider:
- Child Education - Premiums paid for educational or medical insurance for taxpayer or child: up to RM3,000
- Contributions to Provident Funds (Government approved); and life insurance/takaful premiums : up to RM6,000
- Relief for the purchase of books, journals, magazines, textbooks for taxpayer, wife or child - up to RM1,000
- Rebate on Zakat and Fitrah and other religious dues:
A rebate is also granted for any obligatory payments of zakat, fitrah or other Islamic dues provided they are evidenced by receipts issued by the appropriate religious authority. - RM3,000 maximum claim for the purchase of a personal computer for non-business use is for a tax deduction (i.e. to be deducted against your total income to arrive at your chargeable income) and not a tax rebate (i.e. a rebate is deducted from your income tax charge to arrive at your tax payable).
- The tax deduction for medical expenses for parents is up to a maximum of RM5,000.
Please consult the nearest LHDN office for more information. Happy Tax Filing Month!
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