fbpx
Connect with us

News

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

Published

My Post 1 2023 03 02T170918.105
Source: Daily Express & 123RF

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

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).

Lhdn 3

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%!

My Post 1 2023 02 24T174051.494

Source: 123RF

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



Just In

Collage 42 Collage 42
News6 hours ago

25yo PDRM Officer Found Dead in Toilet at R&R Nilai

Trigger warning: This article mentions suicide. A young PDRM officer was found dead inside the toilet at R&R Nilai in...

Influencers Online Gambling Influencers Online Gambling
News6 hours ago

PDRM Arrests 27 Social Media Influencers for Promoting Online Gambling

Gambling is something that’s very addicting and can cause a lot of harm to a person and the people around...

My Post 1 2024 06 14T190745.940 My Post 1 2024 06 14T190745.940
News21 hours ago

BREAKING: Huge Fire Breaks Out at Genting Highlands Theme Park, Firefighters Deployed to Location

A fire was reported to have broken out at the Genting Skyworlds (outdoor) theme park, Genting Highlands, at around 4.55pm,...

Feat Image Cybertrooper Feat Image Cybertrooper
News23 hours ago

“Cybertrooper rebrand” – M’sians Call Out Nga Kor Ming for Hiring 200 ‘Online Ambassadors’ at His Ministry

An announcement by the Minister of Housing and Local Government Nga Kor Ming didn’t sit too well with Malaysians online...

Feat Image Cheapest Fee Feat Image Cheapest Fee
News1 day ago

Study: Malaysia Has World’s Cheapest International Schools Fees, Median Fee as Low as RM12.4k/Year

A recent study on the cost of international education around the globe yielded some interesting results relating to Malaysia, whereby...

My Post 1 2024 06 14T152458.440 My Post 1 2024 06 14T152458.440
News1 day ago

Indonesian Policewoman Burns Husband to Death for Gambling Away 13-Month Bonus Money

For many people, receiving bonus money from their employer is an opportunity to relieve themselves of debts and to make...

Collage121211212 Collage121211212
News1 day ago

Kuala Pilah Police Arrest 2 Men for Allegedly Exploiting a 14yo Disabled Boy for Child Labour

Child labour remains to a certain extent a common occurrence in Malaysia. This situation is concerning and raises issues regarding...

Feat Image Malaysia 1 Feat Image Malaysia 1
News1 day ago

Study: Malaysia is World’s 10th Most Peaceful Country, Only 1 of 2 Asian Nations in Top 10 Beside Singapore

Despite all the doom and gloom we read about our country from Malaysians on social media, it is worth noting...

Announcement

Latest Videos



TRENDING TODAY