Reduced income tax in 2018

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%

Are those monthly are annual amounts?

This is really great to hear, thanks Gravitas. :-)

Income tax liability is worked out on annual salary (then deducted monthly i.e. divided by 12).

Thanks very much, doesn't help me any then. OTH I may retire before the end of next year anyway. Working is overrated :)

Is this Resident tax ?

Yes, of course. Non-resident is a flat rate

My annual income in 78,000 so how much will be for me

Non-Resident - 1820 per month
Resident - about 380 per month

Page 7 … ooklet.pdf

However, housing is also taxable

Accomadation provided by company still need to pay housing tax?

As an expat, can we invest in Malaysia for tax rebate or otherwise while working in Malaysia. Thank you.

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.

Gravitas ,

My salary is 6500 apart from this Accomadtion and transport provide by company expense.

Mohideen, the company provide the accommodation and sometimes food as well, but it is a taxable benefit.

Okay clear

@Gravitas, what's the RM9k p.a. stand for ?

Malaysian Ringgit 9,000

so @Gravitas, what's the graduated system you said above ?

See page 7 … ooklet.pdf

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