Budget 2027: Individual Tax Relief Increased To RM12,000
The government is raising individual income tax relief for the first time since 2010, while expanding deductions to cover more everyday expenses. The measures include tax relief for AI subscriptions, pet vaccinations and pet adoption, alongside lower tax rates for selected income brackets. Individual income tax relief will be increased from RM9,000 to RM12,000 under […] The post Budget 2027:…
The Malaysian government has announced an increase in individual income tax relief for the first time since 2010, as part of the 2027 national budget. Prime Minister Datuk Seri Anwar Ibrahim outlined the changes during the presentation of the budget in the Dewan Rakyat. The relief will be expanded to cover a broader range of everyday expenses, such as AI subscriptions, pet vaccinations, and pet adoption.
Individual income tax relief will be raised from RM9,000 to RM12,000 under the new budget. Lower tax rates will be implemented for specific income brackets, with individuals earning between RM70,000 and RM100,000 facing an income tax rate of 18%, and those earning between RM100,000 and RM150,000 benefiting from a reduced rate of 24%.
The government aims to ease the cost-of-living burden on middle-income earners by adopting a progressive approach to taxation, with a rate of 30% for those earning over RM1 million.
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