× Talks on career and job opportunities, payroll problems and advices.

Malaysia Budget 2014 and Taxable Income

More
6 years 5 months ago - 6 years 5 months ago #12 by Kap-Chew
  • Special tax relief of RM2,000 to be given to tax payers with a monthly income up to RM8,000 received in 2013, which will result in tax savings up to RM480.
  • Families with a monthly income of RM4,000 will not be subject to tax.
  • Individual income tax rates to be reduced by 1% - 3%, effective 2015. Chargeable income subject to maximum rate to be increased from exceeding RM100,000 to exceeding RM400,000. Current maximum tax rate at 26% to be reduced to 24%, 24.5% and 25%.
  • Monthly Tax Deduction will be Final Tax, effective from 2014 assessment year.
  • BR1M payment is increased to RM650 from RM500 for households with a monthly income of below RM3,000. For single individuals above 21 years old with a monthly income not exceeding RM2,000, BR1M will be increased from RM250 to RM300.

Is this a salarymen-friendly budget? What is your opinion? :whistle:
Last edit: 6 years 5 months ago by Kap-Chew.

Please Log in or Create an account to join the conversation.

More
6 years 5 months ago #13 by Amil
Just feel that heavy burden that salary is not catching up with the skyrocketing inflation in our BolehLand :unsure:

Please Log in or Create an account to join the conversation.

More
6 years 5 months ago #14 by Kap-Chew
Can't agree more with you. Be prepared for another round of crazy price hike after sugar subsidy is stopped. Sometimes just can't imagine how many cups of coffee a kilo of sugar can produce, and a 10-sen hike would really more than compensate for it, plus a lot of profit. :sick:

Please Log in or Create an account to join the conversation.

More
6 years 5 months ago #15 by Amil
Change lifestyle dude! ;)

Please Log in or Create an account to join the conversation.

Time to create page: 0.050 seconds
Powered by Kunena Forum