NGO moots tax relief for paying parents’ housing costs
REACH says children who pay their parents' rent or housing loan should receive separate tax relief.
A housing advocacy group in Malaysia has suggested that the government introduce a special tax relief for children who contribute to their parents' housing costs. This proposal comes from the Centre for Community and Housing Development (REACH), which advocates for improved welfare of senior citizens. Iskandar Abdul Samad, a REACH coordinator, explained that many taxpayers already bear part or all of their parents' housing expenses, particularly for retirees who lack a regular income.
With the escalating cost of living, these expenses can create financial strain on children who also have responsibilities towards their own families. However, these individuals continue to fulfill their duty to ensure their parents have a comfortable and safe living environment. Iskandar suggested that the proposed tax relief should be distinct from existing tax deductions for parental medical and care expenses, and should be set at a reasonable annual limit.
According to him, the relief should be based on actual payments, with claims backed by rental agreements, housing loan statements, or proof of payment to prevent any misuse.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
