Scribd Logo
Upload

Welcome to Scribd!

  • Format For Taxation

    Uploaded by

    SITI NURFARHANA AB RAZAK
    21 views4 pages
    This document contains templates for calculating individual and separate taxation assessments in Malaysia. It lists income sources and allowable tax reliefs that are deducted from total assessable income to determine total chargeable income. Tax rates are then applied to calculate gross tax payable, which is reduced by tax rebates and monthly tax deductions to determine the net tax payable or refund. Sections include income, deductions, chargeable income, tax rates, tax payable, rebates and deductions to calculate the final tax amount.

    Original Description:

    Original Title

    Format for Taxation

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    This document contains templates for calculating individual and separate taxation assessments in Malaysia. It lists income sources and allowable tax reliefs that are deducted from total assessable income to determine total chargeable income. Tax rates are then applied to calculate gross tax payable, which is reduced by tax rebates and monthly tax deductions to determine the net tax payable or refund. Sections include income, deductions, chargeable income, tax rates, tax payable, rebates and deductions to calculate the final tax amount.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    21 views4 pages

    Format For Taxation

    Uploaded by

    SITI NURFARHANA AB RAZAK
    This document contains templates for calculating individual and separate taxation assessments in Malaysia. It lists income sources and allowable tax reliefs that are deducted from total assessable income to determine total chargeable income. Tax rates are then applied to calculate gross tax payable, which is reduced by tax rebates and monthly tax deductions to determine the net tax payable or refund. Sections include income, deductions, chargeable income, tax rates, tax payable, rebates and deductions to calculate the final tax amount.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 4

    Template for Taxation Calculation

    (Individual Assessment)

    Zul Aripin

    Income  

    - Salary 240,000

    - Bonus (3.5mx 240,000)/12 70,000

    Total Aggregate Income 310,000

    Less: Donation-UNICEF(B8) (RM500X12m) (600)

    Total Assessable Income 309,400

       

    Less: Tax Relief  

    Self/Individual (G1) 9,000

    - Wife (G13) 4,000

    - 1ST Child (G15b(ii)) 8,000

    - 2nd Child (G15a) 2,000


    - 3rd Child (G15a) 2,000

    - Life insurance & EPF (G16)


    - (300X12=3600) Limit RM3,000
    - EPF (240,000X11%=26,400) Limit RM4,000 7,000

    - Medical Examination-Wife (G17(ii)) 750


    - Lifestyle (G8) Limit RM2,500
    - Books (G8(i)) RM500
    - Hand Phone (G8(ii)) RM800
    - Gym Membership (G8(iii)) RM1,200
    - Internet subscription (G8(iv)) (RM125x12m) RM1500
    - TOTAL = RM4,000
    - TOTAL - Hand Phone (G8(ii)) RM800 = RM3,200 2,500

    - Additional Lifestyle Limit RM2,500


    - Hand Phone (G9b) 800

    - SSPN (G12) Limit RM8,000


    - 2childxRM100x12m=RM2,400) 2,400

    - Medical Insurance (G18) (500X12=RM6,000) Limit


    RM3,000 3,000

    - Private Retirement Scheme (PRS) (G17) (400X12-


    RM4,800) Limit RM3,000 3,000

    Total Tax Relief (44,450)

    Total Chargeable Income


    - Total Assessable Income - Total Tax Relief
    - 309,400 – 44,450 264,950 > 35,000

    Tax Rate

    1st - 250,000 46,700


    Next – (264,950 – 250,000 = RM14,950) x (24.5rate) 3,662.75
    **First + Next = Total Chargeable Income

    Gross Tax Payable/Tax Charged 50,362.75


    Less: Tax Rebate

    Individual (B18) 0

    Zakat (B18) (7,000)

    Total Tax Rebate (7,000)

    Net Tax Payable 43,362.75

    Less: Monthly Tax Deduction/MTD/STD


    (3,208.35x12=38,500.20) (38,500.20)

    Tax Refund/Tax Payable 4,862.55

    Format for Taxation Calculation (Separate Assessment)

    Ali Aminah
    Income  
     -  
     -  
    Total Aggregate Income  
    Less: Donation  
    Total Assessable Income  
       
    Less: Tax Relief  
    Self/Individual  
    -  
     -  
     -  
    Total Tax Relief  
       
    Total Chargeable Income 65000  
    Tax Rate (Ali)  
    1st 50,000 2400  
    Next 15,000 x 16%  
    Tax Rate (Aminah)
    1st
    Next
    Gross Tax Payable/Tax Charged  
       
    Less: Tax Rebate  
    Individual 0  
    Zakat  
    Total Tax Rebate
    Net Tax Payable 4000  
    Less: Monthly Tax Deduction/MTD/STD 2400  
       
    Tax Refund/Tax Payable 1600  

    You might also like