Here is the List of 2022 Tax Reliefs You Can Benefit From!

It’s tax season again but thankfully, just like every other year, the authorities have prepared tax reliefs to allow you to reduce your chargeable income.

The individual and non-individual e-filing services for the assessment year of 2022 has opened yesterday (March 1, 2023).

Source: 123RF

Here is the list of individual tax exemptions or reliefs for your reference: 

1. Individual and dependent relatives – RM9,000
   
2. Medical treatment, special needs and caregiver expenses for parents (Medical condition certified by medical practitioner) – Restricted to RM8,000 
3. Purchase of basic supporting equipment for disabled self, spouse, child or parent – Restricted to RM6,000 
4. Disabled individuals – RM6,000 
5. Education fees (self) (Restricted to RM7,000):
   – Other than a degree at masters or doctorate level (course of study in law, accounting, Islamic financing, technical, vocational, industrial, scientific or technology)
   – Degree at masters or doctorate level (any course of study)
   – Course of study undertaken for the purpose of upskilling or self-enhancement – Restricted to RM2,000
6. Medical expenses on (Restricted to RM8,000):
   – Serious disease for self, spouse or child
   – Fertility treatment for self or spouse
   – Vaccination for self, spouse and child – Restricted to RM1,000
7. Expenses on (Restricted to RM1,000): 
   – Complete medical examination for self, spouse or child
   – Covid-19 detection test including purchase of self-detection test kit for self, spouse or child
   – Mental health examination or consultation for self, spouse or child
8. Purchase of breastfeeding equipment for own use for a child aged 2 years and below (Deduction allowed once in every TWO years of assessment) – Restricted to RM1,000 
9. Child care fees to a registered child care centre/kindergarten for a child aged 6 years and below – Restricted to RM3,000 
10. Net deposit in Skim Simpanan Pendidikan Nasional (Net deposit is the total deposit in 2022 MINUS total withdrawal in 2022) – Restricted to RM8,000 
11. Husband/wife/payment of alimony to former wife – Restricted to RM4,000 
12. Disabled husband/wife – RM5,000 
13. Each unmarried child, under the age of 18-years-old – RM2,000 
14. Each unmarried child of 18 years and above who is receiving full-time education (A-Level, certificate, matriculation or preparatory courses) – RM2,000 
15. Each unmarried child of 18-years-old and above that (RM8,000): 
    – is receiving further education in Malaysia in respect of an award of diploma or higher (excluding matriculation/preparatory courses)
    – is receiving further education outside Malaysia in respect of an award of degree or its equivalent (including masters or doctorate)
    – the instruction and educational establishment shall be approved by the relevant government authority
16. Disabled child – RM6,000 
17. Unmarried disabled child aged 18-years-old and above that (RM8,000):
    – is pursuing diplomas or above qualification in Malaysia
    – is pursuing bachelor’s degree or above outside Malaysia
    – in programs and in higher education institutes that is accredited by the related government authority
18. Life insurance and EPF (Restricted to RM7,000): 
    – Pensionable public servant category who do not contribute to EPF or any approved scheme (life insurance premium)
    – Life insurance premium – Restricted to RM3,000
    – Contribution to EPF/approved scheme – Restricted to RM4,000
19. Deferred Annuity and Private Retirement Scheme (PRS) – Restricted to RM3,000 
20. Education and medical insurance – Restricted to RM3,000 
21. Contribution to the Social Security Organization (SOCSO) – Restricted to RM350 
22. Domestic tourism (Restricted to RM1,000): 
    – Payment of accommodation at the premises registered with the Commissioner of Tourism under the Tourism Industry Act 1992
    – Payment of entrance fee to a tourist attraction
    – Purchase of domestic tour packages through a licensed travel agent registered with the Commissioner of Tourism under the Tourism Industry Act 1992
23. Expenses on charging facilities for Electric Vehicle (Not for business use) – Restricted to RM2,500

Lifestyle

1. Expenses for the use/benefit of self, spouse or child in respect of (Restricted to RM2,500):
   – Purchase or subscription of books, journals, magazines, newspapers, other similar publications (not banned reading materials)
   – Purchase of personal computer, smartphone or tablet (not for business use)
   – Purchase of sports equipment for sports activities defined under the Sports Development Act 1997 and payment of gym membership
   – Payment of monthly bill for internet subscription (under own name)
2. Additional relief for the use/benefit of self, spouse or child in respect of (Restricted to RM500): 
   – Purchase of sports equipment for any sports activities as defined under the Sports Development Act 1997
   – Payment of rental or entrance fee to any sports facilities
   – Payment of registration fee for any sports competitions where the organiser is approved and licensed by the Commissioner of Sports under the Sports Development Act 1997
3. Purchase of personal computer, smartphone or tablet for own use/benefit or for spouse, child (not for business use) – Restricted to RM2,500

For more information on the aspects included in the list of tax exemptions, you can check out the Inland Revenue Board of Malaysia website here.

Happy filling! 

Also read: Budget 2023: M40 Individual Income Tax Rate Has Been Reduced By 2%!