Budget 2016

SOCSO Contributions

Mandatory salary bracket for contribution to SOCSO raised from RM3,000.00 to RM4,000.00

Minimum wage

West Malaysia
From RM900.00 to RM1,000.00

East Malaysia
From RM800.00 to RM920.00

Read more…

Income tax – Personal reliefs

Spouse relief
From RM3,000.00 to RM4,000.00 for those with spouse not working.

Parents
RM1,500.00 for those with parents as dependents.

Children
RM8,000.00 for children above 18 studying locally or overseas
RM2,000.00 for children below 18

Personal Income Tax Rates

Income tax rates increased for the following income bands:

RM600,000.00 to RM1,000,000.0025% to 26%
above RM1,000,000.0028%
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