Personal relief Income tax, legally, reduce income tax
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 Nov 23 2006, 04:33 PM
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#1
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Senior Member
1,059 posts Joined: Mar 2006 From: KL  
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Is it we only be taxed when our annual income exceeds RM70k? I mean personal income tax here, as a normal employee.
If my annual income is RM70k, then the insurance premium is tax deductible, so, will I be taxed anymore? |
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Nov 23 2006, 04:51 PM
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#2
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Senior Member
1,059 posts Joined: Mar 2006 From: KL
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QUOTE(Singh_Kalan @ Nov 23 2006, 04:37 PM)   . WTF...u r saying u never pay tax b4?? It's difficult to say how much income only taxable bcoz of the deductible expenses and rebate. As a guideline, its above RM2.5k p.m or RM30k p.a. But at RM70k p.a u definitely need to pay tax. No wonder our tax coffer is not full.    I just start work less than 1 year, and my income is not even 2k per month, so I don't think I need to pay tax. However, I wish to learn more about this income tax stuff.... So, if my income deduct all the tax deductible expenses, exceeds RM30k p.a., then I need to pay tax, right? How about the allowance and claims that I get? Will they be included as my income, or just my salary is counted? I'm newbie in working life...so trying to learn and learn.... |
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