48 SMART: Income Tax Rebates
+Smartan Dad

Monday, 17 December 2012

Income Tax Rebates

In Malaysia Budget 2013, individual income tax rate will be reduced by 1% for each grouped annual income tax exceeding RM2,500 to RM50,000.  It's already end of Year 2012 and we still have only 2 weeks left to prepare for the income tax rebates on Tax Assessment Year 2012.

















Below is the list of individual relief types which are still in time to be done in these 2 weeks:

No.
Individual Relief Types
Amount (RM)
1
Medical expenses for parents
5,000 (Limited)
2
Education Fees (Individual)
5,000 (Limited)
3
Complete medical examination
500 (Limited)
4
Purchase of books, journals, magazines and publications
1,000 (Limited)
5
Purchase of personal computer
3,000 (Limited)
6
Net saving in SSPN's scheme
6,000 (Limited)
7
Purchase of sport equipment for sport activities
300 (Limited)
8
Subscription fees for broadband registered in the name of the individual
500 (Limited)
9
Life insurance dan EPF
6,000 (Limited)
10
Private Retirement Scheme
3,000 (Limited)


For purchase of personal computer, are tablets included in that category? If the tablet does not have the features of making phone calls and sending SMS/ MMS via telco service, then it is eligible for income tax rebate. In this case, iPad4 and iPad mini are entitled for the income tax rebate.

For verification or confirmation, you can always contact LHDN by phone 1-800-88-LHDN (5436) or email .

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