22 April 2013

Personal Income Tax for YA2012

Finance Malaysia hopes this article doesn't come late to give you some info on Personal Income Tax filling for year of assessment 2012. Maybe due to the general election, which had diverts our attention lately. Lol. Anyway, do remember to file your income tax before 30th April oh!!!

Well, here is the list of Personal Tax Relief for YA2012. And, I would like to highlight to you, in RED color words, some changes/differences from previous year.

Personal Tax Relief for YA2012
  • Item No.11:
    This would replace Item 10 from YA2012-YA2017 with higher amount of RM6,000
  • Item No.23:
    Private Retirement Scheme (PRS) is the NEW item which can help you reduce tax further with additional RM3,000 tax relief from YA2012-YA2021. As such, Item No.22 would be replaced until after YA2021.
All other items remained the same. Do reduce your tax payable by maximizing the tax relief amount. Remember to keep a record and file it properly. Happy tax filling. Thanks.

Blue color: Tax relief that we can adjust easily in our daily life
Green color: Tax relief for property not rented out with S&P signed between 10/03/09-31/12/10
Light red color: Tax relief related to child
Yellow color: Tax relief related to life insurance premium

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