[ Checklist For Personal Tax Reliefs ]

Everything you should CLAIM here! 
For Income Tax Relief Malaysia 2021 (YA 2020)

However, smart planning can optimize tax opportunities to minimize the impact on your cash flow.

Grasp the smart tax savings strategies that could help you from becoming cash-strapped during tax time!

Below are the 24 claims for Tax Reliefs: –
1) Self and dependent RM9000
2) Ordinary child relief <18 years old RM2000
3) Unmarried Child ≥ 18 years old RM2000
-Full-time education: ("A-Level", matriculation, certificate or preparatory courses)
4) Unmarried child≥18 years old RM8000
Full time education:
▪ In Malaysia –diploma or higher
▪ Outside Malaysia –degree and above  
5) Further deduction for disable person RM6,000
6) Further deduction for disable spouse RM3,500
7) Further deduction for disable child (unmarried)RM6,000
8) Unmarried disabled child≥18 years old RM8,000
– Diplomas or above qualification in Malaysia
– Bachelor degree or above outside Malaysia
9) Husband/Wife/Alimony payments RM4,000
10) Childcare fees RM3,000 (aged 6 and below)
*For registered childcare center/ kindergarten only
11) Breastfeeding equipment RM1,000 (Child aged 2 years and below) *Deduction allowed once every 2 years of assessment
12) Education fees (Self) RM7,000
*Degree -Specific courses
*Masters or doctorate level –any courses
13) Life insurance premium
*Pensionable public servant category RM7,000
*OtherRM3,000
14) Contribution to EPF / approved scheme RM4,000
15) Contribution to SOCSO RM250
16) Deferred Annuity and PRS RM3,000
17) Medical expenses for serious diseases (including fertility treatment) RM6,000
* Including complete medical examination limited to RM500
18) Basic supporting equipment RM6,000, medical expenses for parents RM5,000, Parental care RM3,000 *For disabled self, spouse, child or parent* Medical treatment, special needs and carer *Medical condition certified by medical practitioner
OR
19) Parental care RM3,000
* Limited to RM1,500 for one father and RM1,500 for one mother
* Other conditions applied
20) Net deposits in Skim Simpanan Pendidikan Nasional (SSPN) RM8,000
21) Insurance premium for education or medical RM3,000
22) Domestic travelling RM1,000 between 01/03/2020 –31/12/2020 *Accommodation fee
*Entrance fees to tourist attractions
23) Lifestyle RM2,500
*Reading material, PC, smartphone, tablet, sport equipment, internet subscription
24) Additional RM2,500 *Computer, smartphone, tablet purchased between 01/06/2020
–31/12/2020

 

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Mr.Wai Kit

Experienced Property Investor

Over 8 years of experience as a property investor, Founder of Bricks Venture Capital and Property Lab

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