Budget 2027 expands individual tax relief, cuts rates for middle-income earners
INDIVIDUAL tax relief will be expanded under Budget 2027 to cover pet vaccination and the adoption of pets from registered centres, alongside wider relief for medical care, education and lifestyle expenses. Prime Minister and Finance Minister Datuk S...
Budget 2027 brings expanded individual tax relief measures, particularly for pet owners. The relief will cover expenses related to pet vaccination, adoption from registered centers, and medical care, with the latter now extended to postnatal care services. Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim revealed these changes during the budget announcement in Parliament.
In addition to pet-related expenses, the government will provide relief for medical care, education, and lifestyle costs, including AI service subscriptions. The individual tax relief limit, previously stagnant since 2010, will be increased from RM9,000 to RM12,000, accounting for the financial challenges faced by the middle-income M40 group.
Moreover, the individual tax rates for those earning between RM70,000 and RM150,000 will be reduced by one percentage point, with the rates for income brackets falling to 18% and 24%, respectively.
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