tax-reliefAs announced in Budget 2014 and to increase the disposable income of the middle income group, a special one-off personal tax relief of RM2,000 will be given to resident tax payers earning up to RM8,000 a month (aggregate income up to RM96,000 a year).

This will give a tax saving up to RM480 depending on the amount of tax payable after taking into consideration all the deductions.

This special one-off personal tax relief of RM2,000 is given for one year, i.e. year of assessment 2013 only. You may deduct this special tax relief when you are submitting your 2013 tax return by April 2014.