ARTICLE

Insight

Individual Tax

  • Increase tax relief limit from RM250 to RM350 and the scope of relief for SOCSO contributions to be expanded to cover employee contributions through the Employment Insurance System, effective year of assessment 2022.

 

  • Increase tax relief for expenses in attending reskilling and upskilling courses from RM1,000 to RM2,000 until year of assessment 2023.

 

  • Tax relief for EPF contributors will be expanded to cover voluntary contributors including pensionable civil servants, starting the year of assessment 2022.

 

  • Tax relief for cost of medical expenses and consultation involving registered psychiatrists, clinical psychologists and counsellors, starting the year of assessment 2022.

 

  • Extension of special individual income tax relief for domestic tourism expenses for expenses incurred from 1st January 2022 until 31 December 2022, for the year of assessment 2022.

 

  • Extension of individual income tax relief for payment of child care center or child care center fees up to RM3,000, for the year of assessment 2022 and the year of assessment 2023.

 

  • Extension of special individual income tax relief for purchase of mobile phones, computers and tablets up to RM2,500, for the year of assessment 2022.

 

  • New individual income tax relief up to RM2,500 on expenses related to cost of installation, rental, purchasing including hire-purchase equipment or subscription fees for EV charging facilities for years of assessment 2022 and 2023.

 

  • Extension of one year for special income tax rate for non-resident individuals holding key positions in companies investing in new strategic investments. Applications received by the MIDA until 31 December 2022.

 

  • Individual income tax relief for deferred annuities be extended for four years, from the year of assessment 2022 to 2025. 
Prev
Sustainability Agenda
Next
Corporate Tax

Author(s)

Mohd Faried Jamil
Executive Director,

Tax


For more insights
alerts