salaried individuals are eligible to claim various income tax deductions, also known as tax reliefs, when filing their taxes in 2026... these deductions reduce the amount of chargeable income and ultimately lower the tax payable... every individual automatically receives a personal relief of RM9,000, with additional relief available for disabled individuals... taxpayers may also claim relief for dependents such as a non-working spouse (RM4,000) and children, with amounts varying depending on age and education level... in terms of financial contributions, relief is available for EPF contributions and life insurance premiums (up to RM7,000 combined), as well as medical and education insurance, private retirement schemes (PRS), and SSPN savings for children's education... educational expenses for self-improvement or tertiary studies can be claimed up to RM7,000... medical-related deductions are significant, including up to RM10,000 for serious illnesses and RM8,000 for parents’ medical treatment... lifestyle-related expenses, such as the purchase of books, computers, smartphones, internet subscriptions, and sports equipment, are also claimable under lifestyle relief (up to RM2,500, with additional amounts for sports activities)... furthermore, taxpayers may claim relief for childcare fees, breastfeeding equipment, and even expenses related to electric vehicle charging facilities or home ownership interest (subject to conditions)... donations to approved institutions and zakat payments are also deductible or given as rebates... overall, these deductions cover personal, family, health, education, and lifestyle expenses, helping individuals significantly reduce their taxable income and financial burden...
No comments:
Post a Comment