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LHDN/IRB Personal Income Tax Relief For Assessment Year 2013

Tuesday, April 19, 2011 | |   0 comments

The Inland Revenue Board (IRB) / Lembaga Hasil Dalam Negeri (LHDN) Malaysia has advised that the last date for the return/submission of the Form BE and for payment of tax payable for individuals with a non-business income for the Year of Assessment 2012, is April 30 2013.

Those who have yet to submit Form BE 2012 are advised to use e-filing, via the Internet.

Below is the list tax relief items for the assessment year 2010, 2011 and 2012. The relief amount you file will be deducted from your income thus reducing your taxable income. Make sure you keep all the receipts for the payments. You don’t have to submit the them to IRB, but make sure you keep them filed in a safe place. You’ll never know them IRB people might come knocking on your door for an audit.

 

Tax Relief for Resident Individual for Assessment Year 2010, 2011, 2012 and 2013

No. Individual Relief Types Amount (RM) 
1

Self and Dependent

Special relief of RM2000 will be given to tax payers earning on income of up to RM8000 per month (Aggregate income of up to RM96000 annually). This relief is only applicable for Year Assessment 2013.

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

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 Child age 18 years old and above, not married and receiving full-time education ("A-Level", certificate, matriculation or preparatory courses) 1,000
19 Child age 18 years old and above, not married and

(i) pursuing further education in Malaysia in respect of an award of diploma or higher (excluding matriculation/ preparatory courses).
(ii) pursuing 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

6,000

(with effect from year of assessment 2013)

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.
With effect from year of assessment 2013 additional exemption is RM6,000.
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)

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