Tax Relief Year 2017

Tax relief refers to a reduction in the amount of tax an individual or company has to pay. The amount of tax relief 2017 is determined according to government’s graduated scale. Malaysian Government imposes various kind of tax relief that can be divided into tax payer self, dependent, parents and many more with the purpose to reduced the burden of tax payers.

The tax relief for year 2017

No.

Individual Relief Types

Amount (RM)

1

Self and Dependent

9,000

2

Medical expenses for parents

OR

Parent
Limited 1,500 for only one mother
Limited 1,500 for only one father

5,000 (Limited)

OR
 

3000 (Limited)

3

Basic supporting equipment for disabled self, spouse, child or parent

6,000 (Limited)

4

Disabled Individual

6,000

5

Education Fees (Self)
(i) Other than a degree at Masters or Doctorate level-for acquiring law, accounting, Islamic financing, technical, vocational, industrial, scientific or technological skills or qualifications;
(ii) Degree at Masters or Doctorate level-for acquiring any skills or qualification

7,000 (Limited)

6

Medical expenses for serious diseases for self, spouse or child

6,000 (Limited)

7

Complete medical examination for self, spouse, child

500 (Limited)

8

Lifestyle:
(i) Purchase of books journals, magazines, printed newspaper and other similar publications (except banned reading materials) for self, spouse or child;
(ii) Purchase of a personal computer, smartphone or tablet for self, spouse or child;
(iii) Purchase of sports equipment for any sports activity as defined under the Sports Development Act 1997 (excluding motorized two-wheel bicycles) and gym memberships for self, spouse or child; and
(iv) Payment of monthly bill for internet subscription

2,500 (Limited)

9

Purchase of breastfeeding equipment

1,000 (Limited)

10

Net saving in SSPN's scheme (total deposit in year 2017 MINUS total withdrawal in year 2017) 6,000 (Limited)

11

Child care fees to a Child Care Centre or a Kindergarten

1000 (Limited)

12

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)

13

Husband/Wife/Alimony Payments

4,000 (Limited)

14

Disable Wife/Husband

3,500

15

Ordinary Child relief

2,000

16

Each unmarried child of 18 years and above who is receiving full-time education ("A-Level", certificate, matriculation or preparatory courses).

2,000

17

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.


8,000


18

Disabled child


6,000

 
Additional exemption of RM8,000 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

19

Life insurance and EPF INCLUDING not through salary deduction

6,000 (Limited)
20
Deferred Annuity and Private Retirement Scheme (PRS) - with effect from year assessment 2012 until year assessment 2021 3,000 (Limited)

21

Insurance premium for education or medical benefit INCLUDING not through salary deduction

3,000 (Limited)
22 Contribution to the Social Security Organization (SOCSO) 250 (Limited)




folder_open   Tax Relief for Individual