Hello? Nobody took advantage of the tax exempt allowances and restructure their salaries? I didn't know Malaysians love to pay tax.
I have the chance to restructure my salary package now. I'd like to seek advice from the forumers on how to maximize my tax exempt income.
I know that an annual RM2,400 allowance for traveling to and from home/office is tax exempt.
I also know that meal allowance is tax exempt. Are there any conditions to qualify for this?
What about the Entertainment Allowance? Are there any conditions to qualify for this exemption?
I know also there's some tax exempt for broadband if employers pay for employee? How to qualify for this? I give my bill to my employer? Or can I ask the employer to separate this amount as "broadband/internet allowance" in my salary slip?
I also know there's some childcare allowance exemption, but I have no children.
So far, here's what I can do for my salary package.
Monthly Basic Salary: xxxx
Monthly Travel allowance (to/from home/office): 200
Monthly Meal Allowance: 300 (ie.RM15 a day)
Total tax exempt income: RM6,000 a year.
Please help me to maximise my tax exempt income. Thank you.