Budget 2021
Tax Relief For Individuals
| Tax relief | Current | W.E.F Y/A 2021 |
|---|---|---|
| Personal tax rate for chargeable income range in between RM50,001 to RM70,000 | 14% | 13% |
| Medical treatment of serious illness (personal, spouse and child) | Maximum RM6,000 | Maximum RM8,000 |
| Complete medical examination | Maximum RM500 | Maximum RM1,000 |
| Parents’ medical expenses, special needs and parental care | Maximum RM5,000 | Maximum RM8,000 |
| Vaccination relief (self, spouse and child) | N/A | Maximum RM1,000 |
| Private Retirement Scheme (PRS) – Maximum RM3,000 | YA2012 – YA2021 (10 year scheme) | YA2022 – YA2025 (Extended) |
| Skim Simpanan Pendidikan Nasional (SSPN) relief – Maximum RM8,000 | YA2019 – RM2020 | YA2021 – RM2022 (Extended) |
| Disabled spouse relief | RM3,500 | RM5,000 |
| Lifestyle relief (purchase of books, sports equipment, computer, smartphone, internet, gym subscription, etc) | Maximum RM2,500 | Maximum RM3,000 (includes e-newspaper subscription) |
| Tax exemption for compensation upon retrenchment | RM10,000 for every year of service completed w.e.f 1st July 2008 | RM20,000 for every year of service completed (applies to YA 2020 and YA 2021) |
| Education fees (self) | Maximum RM7,000 | Maximum RM8,000 (applies to YA 2021 and YA 2022) |
