With less than 80 days left in 2021, have you already started to calculate how much income tax you need to pay next year? The personal income tax deduction for quality of life items has been increased to RM3000!
Among the personal income tax deductible items, Lifestyle was originally deductible at RM2500 but will be increased to RM3000 from 2021 onwards.
The Quality of Life Program will include the purchase of cell phones, computers, tablets, books, fitness and internet packages, etc. This means that you will be entitled to a personal income tax deduction of up to RM3000 for the purchase of a new cell phone, new computer, books, signing up for fitness packages, etc. in 2021.
When you purchase these products and services, you should always ask for a receipt and keep it for at least 7 years. This will prevent you from being fined if the tax office checks your taxes and you have no evidence of consumption.
Under the Income Tax Act 1967, it does not matter if you are a Malaysian citizen or a foreigner, as long as you reside in Malaysia for more than 182 days in a year and have income, you are obliged to file a tax return.
