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      Savings Calculator to calculate savings goals and basic savings projections

      Planning & Budgeting

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      Saving & Investing

      Guides to tackle financial debts in Malaysia for Free

      Tackling Debt

      Free Guides on Choosing and purchasing a vehicle in Malaysia

      Buying a Vehicle

      Free Guides on Purchasing a Home in Malaysia and avoiding crippling debt

      Buying a Home

      Free Guides On purchasing insurance in Malaysia safely

      Insurance

      Free guides to ensure a comfortable Retirement by planning your retirement

      Retirement

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      GuidesPlanning & BudgetingTax Filing 101
      • Introduction 2

        • Lecture1.1
          Summary
        • Lecture1.2
          Introduction to Income Taxes
      • Examples for calculating taxes 3

        • Lecture2.1
          Young Adult
        • Lecture2.2
          Young Family
        • Lecture2.3
          Young Family (Self Employed)
      • Deep, Deep Dive 7

        • Lecture3.1
          What is chargeable income?
        • Lecture3.2
          What is a tax relief?
        • Lecture3.3
          What is a tax rate?
        • Lecture3.4
          What is a tax rebate?
        • Lecture3.5
          What is a Monthly Tax Deduction (MTD/PCB – Potongan Cukai Bulanan)?
        • Lecture3.6
          What is a tax refund?
        • Lecture3.7
          Tax Offences and Penalties

        What is a tax relief?

        Tax reliefs are expenses that LHDN allows you to deduct from your chargeable income. You should use the tax reliefs provided because it helps reduce your taxes.

         

        For example, if you bought a personal computer last year, you will be eligible for a tax relief of up to RM2,500. However, LHDN has set a maximum relief amount for each expense. So, even if you’ve spent RM3,000 on your personal computer, you can only claim the maximum relief of RM2,500.

         

        Three important things about tax reliefs:

        1. Tax reliefs are updated yearly. Do check the list of reliefs every year.
        2. Tax reliefs have conditions, so make sure you fulfil the criteria for the claims. Here is the link for the full list of tax reliefs and criteria.
        3. For the tax reliefs you wish to claim, you will need to keep your receipts for seven years as proof. (In case you get called for a tax audit)

         

        Here are some tax reliefs which might apply to you:

        No. Individual Tax Relief Types Amount (RM)
        1 Education fees for yourself Up to 7,000
        2 Medical expense spent on parents Up to 5,000
        OR OR
        If you don’t claim medical expenses for your parents, you can claim a tax relief of up to RM1,500 per parent. Up to 3,000
        3 Basic supporting equipment for disabled self, spouse, child or parent Up to 6,000
        4 Personal computer, smartphone, books, sports equipment and internet subscription Up to 2,500
        5 Childcare fees for child care centre or registered kindergarten (Can only be claimed by either husband or wife, not both) Up to 1,000 (Per child)

         

        Prev What is chargeable income?
        Next What is a tax rate?

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