tax relief 2013

Topics: Tax, Tax refund, Income tax Pages: 7 (584 words) Published: October 26, 2013
Tax Relief for Resident Individual
Year 2010, 2011 & 2012
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 (once in every 3 years)
3,000 (Limited)
10
Net saving in SSPN's scheme
3,000 (Limited)
11
Net saving in SSPN's scheme (with effect from year assessment 2012 until year assessment 2017) 6,000 (Limited)
12
Purchase of sport equipment for sport activities
300 (Limited)
13
Subscription fees for broadband registered in the name of the individual 500 (Limited)
14
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)
15
Husband/Wife/Alimony Payments
3,000 (Limited)
16
Disable Wife/Husband
3,500
17
Ordinary Child relief
1,000
18
Each unmarried child of 18 years and above who is receiving full-time education ("A-Level", certificate, matriculation or preparatory courses). 1,000
19
Each unmarried child of 18 years and above that:
(i) receiving further education in Malaysia in respect of an award of diploma or higher (excluding matriculation/preparatorycourses). (ii) receiving further education outside Malaysia in respect of an award of degree or its equivalent (including Master or Doctorate). (iii) the instruction and educational establishment shall be approved by the relevant government authority. 4,000

20
Disabled child

Additional 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

21
Life insurance dan EPF
6,000 (Limited)
22
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) - deleted from year assessment 2012 until year assessment 2021 1,000 (Limited)

23
Deferred Annuity and Private Retirement Scheme (PRS) - with effect from year assessment 2012 until year assessment 2021 3,000 (Limited)
24
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...
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