You can also deduct interest charges you paid to tenants on rental deposits. If you have interest expenses that relate to the construction or renovation period, go to Construction soft costs. The above are also available to a spouse who is separately assessed.You can deduct the interest charge on money you borrow to buy or improve your rental property. Over 18 years of age who is receiving full-time instruction at an establishment of higher education in Malaysia (at diploma level and higher) or outside Malaysia (at degree level and above), or serving under article of indentures in a trade or profession, provided certain conditions are met.įor each physically or mentally handicapped childĪdditional relief if that child is over 18 and receiving higher education or studying under articles or indentures in a trade or profession. Over 18 years of age who is receiving full-time instruction (matriculation course / pre-degree / A-Level), or The following personal reliefs can also be deducted in arriving at chargeable income of the resident individual for year of assessment 2021: Reliefs (year of assessment 2021)
The above are also available to a spouse who is separately assessed. Additional deduction of MYR 1,000 for year of assessment 2020 to year of assessment 2024 (increased maximum to MYR 3,000).Ĭosts related to electric vehicle charging facilities, including installation, rental, hire-purchase of equipment, or subscription fees (years of assessment 20). Purchase of breastfeeding equipment once every two years (for women taxpayers only).įees paid to childcare centre and kindergarten (for child / children below six years old).
#MORTGAGE INTEREST TAX DEDUCTION CALCULATOR REGISTRATION#
Purchase of sports equipment and gym membership.Īdditional relief for expenditure related to cost of purchasing sports equipment, entry/rental fees for sports facilities, and registration fees for sports competitions.Purchase of personal computer, smartphone, or tablet.Purchase or subscription of books, journals, magazines, newspaper (including electronic newspapers), and other similar publications for the purpose of enhancing knowledge.for a degree at Masters or Doctorate level for purposes of acquiring any skill or qualification.for a course of study in Malaysia up to tertiary level undertaken to acquire law, accountancy, Islamic financing, technical, vocational, industrial, scientific, or technological skills (including fees for attending upskilling and self-enhancement courses, limited to MYR 2,000 ), or.Premiums for insurance on education or for medical benefits incurred for the individual, spouse, or child.ĭeposit under the National Education Savings Scheme (from year of assessment 2012 to year of assessment 2024). Life insurance premiums for an individual and/or spouse's life, and additional voluntary contribution to EPF.Ĭontributions made to Private Retirement Scheme and Deferred Annuity Scheme (from year of assessment 2012 to year of assessment 2025). Pension/provident funds and insurance premiums:Īpproved pension/provident fund contributions by an individual, and additional voluntary contribution to EPF.
Self, spouse, or child: Treatment of a serious disease, expenses incurred on fertility treatment, vaccination (including medical examination fees, COVID-19 screening, and mental health examinations or consultations, subject to a limit of MYR 1,000), or learning disability diagnosis and early intervention and rehabilitation expenditure (up to MYR 4,000).ĭisability-supporting equipment for the use of a disabled individual, spouse, child, or parent. Parents: Medical treatment, special needs, and carer expenses. Other personal deductions (reliefs) Reliefs (year of assessment 2023) Mortgage interest incurred to finance the purchase of a house is deductible only if income is derived from the house. Charitable contributionsĭonations to approved institutions or organisations are deductible, subject to limits. Non-business expenses, for example, domestic or household expenses and taxes, are not deductible. Subscriptions to associations related to the individual's profession are deductible.
Expenses of a private or domestic nature are expressly excluded from deduction for example, the cost of hiring domestic servants to help in housekeeping while one is away at work is not deductible. Employees are allowed a deduction for any expenditure incurred wholly and exclusively in the performance of their duties, but no allowance is given for tax depreciation.
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