Today the 2018 Budget is being presented. So far regarding the Resident stepped tax system, the following reductions in percentage have been announced:
Tax Bracket 20,001 - 35,000 reduction to 3% from current 5%
Tax Bracket 35,001 - 50,000 reduction to 8% from current 10%
Tax Bracket 50,001 - 70,000 reduction to 14% from current 16%
Reduced income tax in 2018
Gravitas
27 October 2017 15:31:05
9040
iskandarhack
27 October 2017 16:07:14
250
Are those monthly are annual amounts?
4ndr3_4g4
27 October 2017 17:45:40
10
This is really great to hear, thanks Gravitas. :-)
Gravitas
28 October 2017 00:54:22
9040
Income tax liability is worked out on annual salary (then deducted monthly i.e. divided by 12).
iskandarhack
28 October 2017 08:52:20
250
Thanks very much, doesn't help me any then. OTH I may retire before the end of next year anyway. Working is overrated 
xicond
23 January 2018 03:29:00
19
Is this Resident tax ?
Gravitas
23 January 2018 04:57:44
9040
Yes, of course. Non-resident is a flat rate
mohideen221992
23 January 2018 06:42:33
96
My annual income in 78,000 so how much will be for me
Gravitas
23 January 2018 06:48:01
9040
Non-Resident - 1820 per month
Resident - about 380 per month
Page 7 https://www.pwc.com/my/en/assets/public … ooklet.pdf
However, housing is also taxable
mohideen221992
23 January 2018 06:55:26
96
Accomadation provided by company still need to pay housing tax?
GuestPoster00978
23 January 2018 06:59:28
0
As an expat, can we invest in Malaysia for tax rebate or otherwise while working in Malaysia. Thank you.
Gravitas
23 January 2018 07:05:43
9040
Yes about the housing
Check about the deductions possible at the link provided above for any other allowances.
How did you come to the 6280? There is a RM9k p.a. personal tax free allowance and it is a graduated system.
mohideen221992
23 January 2018 07:08:53
96
Gravitas ,
My salary is 6500 apart from this Accomadtion and transport provide by company expense.
Gravitas
23 January 2018 07:21:04
9040
Mohideen, the company provide the accommodation and sometimes food as well, but it is a taxable benefit.
mohideen221992
23 January 2018 07:23:19
96
Okay clear
xicond
23 January 2018 11:38:32
19
@Gravitas, what's the RM9k p.a. stand for ?
Gravitas
23 January 2018 12:15:36
9040
Malaysian Ringgit 9,000
xicond
24 January 2018 01:24:25
19
so @Gravitas, what's the graduated system you said above ?
Gravitas
24 January 2018 03:36:26
9040
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