THINGS TO BE DONE BEFORE

31 DECEMBER 2020

Matrix Taxation Agency Sdn Bhd

 TAX RELIEF Page: 3 – 8

1
2 TAX DEDUCTION Page: 9 – 10

HIGHLIGHTS

3 TAX REBATE Page: 11

4
TAX EXEMPTION Page: 12 – 13

2 Matrix Taxation Agency Sdn Bhd PERSONAL TAX PLANNING

 TAX RELIEF - PARENTHOOD

No Tax Relief Item Amount (RM) Remark

1 Breastfeeding equipment 1,000 (R) - Child aged ≤ 2 years
- Claimed once every 2 years
- Qualified: breast pump kit & ice
pack, breast milk collection &
storage equipment, cooler set /
cooler bag
2 Net deposit in SSPN 8,000 (R) - Net deposit for 2020
Increment of Tax Relief (Penjana) - Child aged ≤ 6 years
Child care relief (current: 2,000) - Claimable by either parent
3 3,000 (R)
- Registered child care centre /
kindergarten

* (R) : Restricted

3 Matrix Taxation Agency Sdn Bhd PERSONAL TAX PLANNING

 TAX RELIEF - EDUCATION

No Tax Relief Item Amount (RM)

Education fees – self:
a) Other than master’s degree or doctorates Course of
study in law, accounting, Islamic financial, technical
1 7,000 (R)
vocational, industrial, scientific or technology
b) Master’s degree or doctorates
Any course of study

* (R) : Restricted

4 Matrix Taxation Agency Sdn Bhd PERSONAL TAX PLANNING

 TAX RELIEF - MEDICAL EXPENSES

No Tax Relief Item Amount (RM) Remark

1 Self, spouse & children 6,000 (R) - Serious diseases
- Include cost of fertility
treatment for self / spouse
2 Full complete health screening 500 (R)

** Total deduction allowable for items (1) & (2) is restricted to RM6,000 * (R) : Restricted

5 Matrix Taxation Agency Sdn Bhd PERSONAL TAX PLANNING

 TAX RELIEF - LIFESTYLE
No Tax Relief Item Amount (RM) Remark
Purchase of reading materials
Personal computer, smartphone / tablet
1 Sports equipment 2,500 (R)
Internet subscription
Gym membership
Special Tax Relief (Penjana)
2
Personal computer, smartphone / tablet 2,500 (R) - Purchase within 1/6/2020 - 31/12/2020
New Tax Relief (Penjana) - Accommodation fees paid at premises
registered with the Ministry of
3 Tax relief for domestic travelling 1,000 (R) Tourism, Arts and Culture Malaysia
expenses - Entrance fees to tourist attractions
- Incurred within 1/3/2020 - 31/12/2021

* (R) : Restricted

6 Matrix Taxation Agency Sdn Bhd PERSONAL TAX PLANNING

 TAX RELIEF - INSURANCE & INVESTMENT

No Tax Relief Item Amount (RM)

Life insurance :
1 a) Working at Public Sector 7,000 (R)
b) Working at Private Sector 3,000 (R)
2 Education & medical insurance 3,000 (R)
3 Private retirement scheme (PRS) 3,000 (R)

* (R) : Restricted

7 Matrix Taxation Agency Sdn Bhd PERSONAL TAX PLANNING

 TAX RELIEF - DISABLED PERSON

No Tax Relief Item Amount (RM)

1 Equipment for disabled self, spouse, child / parent 5,000 (R)
2 Disabled individual 6,000
3 Disabled husband / wife 3,500
Disabled child (unmarried) 6,000
4 Additional relief for disabled child in higher education
8,000
(18+ & unmarried)

* (R) : Restricted

8 Matrix Taxation Agency Sdn Bhd PERSONAL TAX PLANNING

 TAX DEDUCTION – APPROVED DONATIONS

No Type of Donation Limit Remark

Approved institutions /
1
organisations / funds Up to 10% of
2 Approved sports activity aggregate income
Any approved projects of
3 - Cash / benefit in kind
national interest

9 Matrix Taxation Agency Sdn Bhd TAX DEDUCTIONS HIGHLIGHTS

 TAX DEDUCTION – OTHER APPROVED DONATIONS

No Type of Donation Limit Remark

Government / state government /
1
local authority
Artefacts, manuscripts or
2
paintings
3 Libraries Value of gift unless - ≤ RM 20,000
otherwise stated
Disability facilities in public
4 - Cash / benefit in kind
places
5 Approved healthcare facilities - Cash / medical equipment
Paintings to the National Art
6
Gallery / state art galleries

10 Matrix Taxation Agency Sdn Bhd TAX DEDUCTIONS HIGHLIGHTS

 TAX REBATE – ZAKAT / FITRAH

No Type of Rebate Limit (RM) Remark

1 Zakat / Fitrah Amount paid - Paid in calendar year

11 Matrix Taxation Agency Sdn Bhd TAX REBATES HIGHLIGHTS

 TAX EXEMPTION - GIFTS FROM EMPLOYER

No Exemption Item Exemption (RM) Remark

- Advisable to have written policy stating the
Receiving gifts of
provision on facilitating the work from home
1 handphones, notebooks & 5,000 (R)
arrangement
tablets - Effective 1/7/2020 – 31/12/2020

12 Matrix Taxation Agency Sdn Bhd PERSONAL TAX PLANNING

 RPGT EXEMPTION – DISPOSAL OF RESIDENTIAL HOMES

No Exemption Item Remark

- Disposed within 1/6/2020 - 31/12/2021
Real Property Gains Tax (RPGT) exemption
1 - Limited to 3 units of residential homes
for disposal of residential homes by an individual

13 Matrix Taxation Agency Sdn Bhd PERSONAL TAX PLANNING

 THANK YOU

Email us : MTAX@CPAGROUP.COM.MY
Website : cpagroup.com.my

PERSONAL TAX PLANNING