Apr 22 2016, 09:03 AM
QUOTE(kuyaed @ Apr 20 2016, 01:12 PM)
Hi, I got retrenched last year 2015 and got compensation for lost of employment. Based from sources I researched, some of this is not taxable. But when doing the e-filing, I can not find a place to put this amount to indicate at it is tax exempt. Please help.
Hello. It is not tax-exempt for your entire amount of retrenchment benefits. Look into your EA. There should be a row indicating retrenchment benefits. You have tax-relief to a max of RM10k per year for upto 7 years in retrenchment benefits IIRC. So, if you have worked in the company for 5 years, and they pay you RM100k as retrenchment benefits, you will get relief of RM50k.
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