Income Tax Malaysia Calculator

If you make rm 70 000 a year living in malaysia you will be taxed rm 10 582.

Income tax malaysia calculator. Calculator based on malaysian income tax rates for 2019. About this malaysian personal income tax calculator. According to section 45 of malaysia s income tax act 1967 all married couples in malaysia have the right to choose whether to file individual or joint taxes. With a separate assessment both husband and wife can separately claim tax rebates reliefs.

Calculations rm rate tax rm 0 5 000. Your average tax rate is 15 12 and your marginal tax rate is 22 50. Based on this amount the income tax to pay the government is rm1 640 at a rate of 8. Paling sesuai menggunakan ie.

The acronym is popularly known for monthly tax deduction among many malaysians. With a joint assessment the tax rebates relief are claimable only once but there is an additional spousal tax relief. For example let s say your annual taxable income is rm48 000. This personal income tax calculator will work out tax rates obligations and projected tax returns and also tax debts for certain cases.

As a general rule of thumb if both spouses are earning high incomes in the year of assessment it is always recommended to opt for separate assessment to leverage on the tax reliefs. However if you claimed rm13 500 in tax deductions and tax reliefs your chargeable income would reduce to rm34 500. About simple pcb calculator pcb calculator made easy simple pcb calculatoris a monthly tax deduction calculator to calculate income tax required by lhdn malaysia. Here are the income tax rates for personal income tax in malaysia for ya 2019.

That means that your net pay will be rm 59 418 per year or rm 4 952 per month. For employees who receive wages salary exceeding rm5 000 the employee s contribution of 11 remains while the employer s contribution is 12. On the first 2 500. For employees who receive wages salary of rm5 000 and below the portion of employee s contribution is 11 of their monthly salary while the employer contributes 13.

This marginal tax rate means that your immediate additional income will be taxed at this rate. All married couples have the option of filing individually or jointly. Hak cipta terpelihara unit e apps bahagian aplikasi e services lembaga hasil dalam negeri. The malaysia income tax calculator uses income tax rates from the following tax years 2020 is simply the default year for this tax calculator please note these income tax tables only include taxable elements allowances and thresholds used in the malaysia monthly income tax calculator if you identify an error in the tax tables or a tax credit threshold that you would like us to add to the tax calculator please contact us.