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Market Daily Report: Bursa Malaysia Closes Higher On BNM’s OPR Decision, Wall Street Gains

KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.

Malaysia Income Tax Guide - Tax Reliefs

So, it's the time of the year again - the income tax season. For those who has already getting their salary deduction monthly through the PCB or Scheduler Tax Deduction (STD), this is the time where you can claim back what you have paid in advance to the government.

The purpose I am writing this blog post is to remind as many as possible to do the income tax filing as soon as possible; reason being, you will get your income tax refund faster and you will get the peace of mind of having something done before the deadline. There is still another 30 days to go before the deadline, so some might still been struggling to find or get receipts to prove their tax reliefs claim, but in my opinion, for those who are having taxable income in the middle of one tax bracket, those reliefs won't really affect much - unless the deduction brings you to a lower tax bracket.

What is tax reliefs? It is defined as “an amount that can be deducted from a person’s annual income to reduce the amount on which tax is paid”. To describe it in a more clear and concise manner, it is actually a way for you to lessen your chargeable income.


For example, you take home a annual paycheck of RM40,000 from your company in 2013 and if there were no tax exemptions or reliefs, your chargeable income will remain the same and your tax for the year would have been in the 11% bracket; but because every residents get up to RM9,000 tax relief your chargeable income will now be RM31,000 and tax at 6% bracket.


The following are the reliefs available for Malaysians:-
* Removed:- RM500 for broadband


Tax reliefs
Max amount (RM)
Self and Dependent
9,000
Life insurance and EPF
6,000
Husband/Wife/Alimony Payments
3,000
Ordinary Child relief (per child)
1,000
Interest expended in 2013 to finance purchase of residential property dated 2010 (but interest payments starting in 2011 only)
10,000
Net saving in SSPN's scheme
6,000
Education Fees (Individual)
5,000
Updated: PRS Voluntary Contribution
3,000
Purchase of personal computer (every 3 years)
3,000
Insurance premium for education or medical benefit
3,000
Special relief for tax payers earning an income of up to RM8,000 a month (RM96,000 annually). Only applicable for the 2013 year of assessment.
2,000
Purchase of books, journals, magazines and publications
1,000
Complete medical examination
500
Purchase of sport equipment for sport activities
300
Disabled Individual
6,000
Basic supporting equipment (for disabled self, spouse, child or parent)
5,000
Medical expenses for serious diseases
5,000
Disabled child 
5,000
Medical expenses for parents
5,000
Child age 18 years old and above, not married and pursuing diplomas or above qualification in Malaysia @ bachelor degree or above outside Malaysia in program and in Higher Education Institute that is accredited by related Government authorities
4,000
Disabled Wife / Husband
3,500
Child age 18 years old and above, not married and receiving full-time tertiary education
1,000
Premium on new annuity scheme or additional premium paid on existing annuity scheme commencing payment from 01/01/2010 (amount exceeding RM1,000 can be claimed together with life insurance premium)
1,000

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