SQL Professional Tax Planner

2020
RM
Income Details

(Exclude rental income and dividends)
RM
RM
Tax Deductions
RM
0
RM
9000
RM
0
RM
0
[Limited to 4,000]
RM
Child Details
Child
x 2,000
RM
0
x 2,000
RM
0
x 8,000
RM
0
Disabled Child
x 6,000
RM
0
x 14,000
RM
0
[Limited to 8,000]
RM
[Limited to 1,000]
RM
Parent Details
RM
0
[Limited to 5,000]
RM
Other Details
[Limited to 3,000]
RM
[Limited to 3,000]
RM
[Limited to 7,000]
RM
[Limited to 6,000]
RM
[Limited to 4,000]
RM
[Limited to 3,000]
RM
[Limited to 2,500]
RM
[Limited to 2,500]
RM
[Limited to 250]
RM
[Limited to 1,000]
RM

RM
RM
PCB Paid & Zakat will be reset to RM0.

SQL Professional Tax Calculator

2020
Income Details

Child Details
Child

Disabled Child

Parent Details
Other Details
PCB Paid & Zakat will be reset to RM0.

Assessment Year 2020

Chargeable Income Calculation (RM) Rate % Tax RM

0 - 5,000

On the First 5,000

0

0


5,001 - 20,000

On the First 5,000
Next 15,000


1

0
150


20,001 - 35,000

On the First 20,000
Next 15,000


3

150
450


35,001 - 50,000

On the First 35,000
Next 15,000


8

600
1,200


50,001 - 70,000

On the First 50,000
Next 20,000


14

1,800
2,800


70,001 - 100,000

On the First 70,000
Next 30,000


21

4,600
6,300


100,001 - 250,000

On the First 100,000
Next 150,000


24

10,900
36,000


250,001 - 400,000

On the First 250,000
Next 150,000


24.5

46,900
36,750


400,001 - 600,000

On the First 400,000
Next 200,000


25

83,650
50,000


600,001 - 1,000,000

On the First 600,000
Next 400,000


26

133,650
104,000


1,000,001 - 2,000,000

On the First 1,000,000
Next 1,000,000


28

237,650
280,000


Exceeding 2,000,000

On the First 2,000,000
Next ringgit


30

517,650
..........

Categories Of Tax Relief In Malaysia

Tax season is around the corner. It is time for every working adult in Malaysia who is earning more than RM34,000 per annum to submit their income tax declaration. It can be quite a hassle paying your taxes. But what you don’t want to miss out on is the possibilities of getting your tax relief. Yes, that’s right, you can get back money when you pay your taxes. In Malaysia, the personal tax saving relief plan has certain exemptions that can lighten your financial burden. In order to get the full benefits of these tax reliefs, you must know what expenses are entitled to be declared as tax reliefs.

Individual & Family Tax Relief

Starting off would be the Malaysian individual tax relief. Every individual is entitled to RM9,000.00 tax relief.

A household can claim RM4,000.00 tax relief for their non-working spouse. Households with children under the age of 18 years old can claim RM2,000.00 per child. There is also tax saving criteria of RM6,000.00 if the child is disabled (OKU). In addition, households with children above the age of 18 who are still receiving a full time education in a higher learning institution can claim tax relief of RM8,000.00.

Additional personal tax relief is also given if a person is disabled or married to a disabled person. RM6,000.00 of additional personal tax relief if an individual is disabled and tax relief of RM3,500.00 if the spouse is disabled.

Individuals who are financially supporting their retired parents above the age of 60, can claim tax relief of RM1,500.00. Parents must be Malaysian residents and earn under RM24,000.00 annually.

Expenses Entitled For Tax Relief Claims

Education:

  • A maximum amount of RM 7,000.00 of tax savings are given for education fee/qualifications at tertiary level or postgraduate studies.  
  • Parents who deposit into the National Education Savings Scheme for their Children can claim up to RM8,000 in tax savings.

Medical Insurance, Life Insurance & EPF:

  • Tax benefits of RM3,000.00  for insurance premium for yourself or your child.
  • RM4,000.00 claimable tax relief or EPF contribution .

Medical Expense:

  • Parents Medical Expenses : RM8,000 tax savings on medical expenses for parents who suffer from physical or mental disabilities, require treatments. Includes home care centres, and day care centres.  
  • Self Medical Expenses :  RM8,000.00 tax savings on self medical expenses. Inclusive of autoimmune illnesses like AIDS, Parkinson’s, Cancer, Kidney failure.

Lifestyle Expenses:

  • Purchases of books, sports equipment , smartphones, gym memberships, computers are allowed up to RM3000 tax relief. 
  • Domestic travel (travelling within Malaysia) expenses have RM1,000.00 tax relief. 
  • Get tax saving worth RM3,000.00 for childcare expenses for children up to 6years old.
  • There are unlimited tax reliefs for Zakat expenses for Muslims who have to make this compulsory contribution. 
  • Supporting expenses tax relief of RM6,000.00 when it comes to the expense of purchasing basic equipment to support a disabled self/child/parent/spouse.
  • Women with children can claim RM1,000.00 tax relief on breastfeeding equipment every 2 years.
Now that you know what expenses are entitled for tax relief you can proceed with your tax declaration with the knowledge that you will not be missing out on these sweet personal tax savings.

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