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~ Tax Relief & Rebates

Posted by faisalrenzo on June 21, 2011


Tax Relief for Resident Individual

Year 2010/2011

No.

Individual Relief Types

Amount (RM)

1.

Self and Dependent 9,000

2.

Medical expenses for parents 5,000 (Limited)

3.

Basic supporting equipment 5,000 (Limited)

4.

Disabled Individual 6,000

5.

Education Fees (Individual) 5,000 (Limited)

6.

Medical expenses for serious diseases 5,000 (Limited)

7.

Complete medical examination 500 (Limited)

8.

Purchase of books, journals, magazines and publications 1,000 (Limited)

9.

Purchase of personal computer 3,000 (Limited)

10.

Net saving in SSPN’s scheme 3,000 (Limited)

11.

Purchase of sport equipment for sport activities 300 (Limited)

12.

Subscription fees for broadband registered in the name of the individual 500 (Limited)

13.

Interest expended to finance purchase of residential property. Relief of up to RM10,000 a year for three consecutive years from the first year the interest is paid.
Subject to the following conditions:(i) the taxpayer is a Malaysian citizen and a resident;
(ii) limited to one residential unit;
(iii) the sale and purchase agreement is signed between 10th March 2009
and 31st December 2010; and
(iv) the residential property is not rented out.
Where:
(a) 2 or more individuals are eligible to claim relief for the same property ; and
(b) total interest expended by those individuals exceeds the allowable amount for that year. Each individual is allowed an amount of relief for each year based on the following formula:
A x B
C
where;
A = total interest allowable in the relevant year;
B = total interest expended by the relevant individual in the relevant year;
C = total interest expended by all the individuals.
10,000 (Limited)

14.

Husband/Wife/Alimony Payments 3,000 (Limited)

15.

Disable Wife/Husband 3,500

16.

Ordinary Child relief 1,000

17.

Child age 18 years old and above, not married and receiving full-time tertiary education 1,000

18.

Child age 18 years old and above, not married and pursuing diplomas or above qualification in Malaysia @ bachelor degree or above outside Malaysia in program and in Higher Education Institute that is accredited by related Government authorities 4,000

19.

Disabled childAdditional exemption of RM4,000 disable child age 18 years old and above, not married and pursuing diplomas or above qualification in Malaysia @ bachelor degree or above outside Malaysia in program and in Higher Education Institute that is accredited by related Government authorities 5,000

20.

Life insurance and EPF 6,000 (Limited)

21.

Premium on new annuity scheme or additional premium paid on existing annuity scheme commencing payment from 01/01/2010 (amount exceeding RM1,000 can be claimed together with life insurance premium) 1,000 (Limited)

22.

Insurance premium for education or medical benefit 3,000 (Limited)

 

Income Tax Rebates For Resident Individual With Chargeable Income Less Than RM35,000

No.

Tax Rebate

Year Of Assessment 2001 – 2008

Year Of Assessment 2009 Onwards

(RM)

(RM)

a.

Separate Assessment
Wife
Husband


350
350


400
400

b.

Combined Assessment
Wife
Husband


350
350


400
400

Total

700

800

b.

Assessment Where Husband Or Wife Does Not Has Any Total Income
Wife
Husband


350
350


400
400

Total

700

800

 

Other Tax Rebates

No.

Tax Rebate

(RM)

a.

 Zakat/Fitrah  Subject to the maximum of tax charged

b.

 Fees/Levy on Foreign Workers  Subject to the maximum of tax charged

..

..

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