Monday, December 6, 2010

Save on your income tax

- under the National Education Saving Scheme, you can file up to a max of RM3k per yr for deposits made.

- u can claim up to RM300 each year for any purchase of sports or exercise equipment.

- investments into Deferred Annuity Schemes from insurance companies entitle you to an additional RM1k in relief on top of existing relief for EPF contributions and life insurance premiums.

- u can claim up to RM3k a yr for education and medical insurance.

- enrrolled in a post-graduate, u r entitled to a total relief of up to RM5k per yr.

- donation (no limit stated)

- filing seperate tax returns may allow u to enjoy lower tax brackets.

- pay your parents' medical bils, u can claim up to RM5k in total relief.

- u can claim a deduction of up to RM500 per yr for a full medical examination and up to RM5k on medical expenses for yourself, ur spouse or ur children for serious illness.

- u can claim up to RM1k for any purchase of books.

- save RM500 for broadband subscriptions.

- buy a PC and claim up to RM3k once every 3 yrs.

- get a 50% exemption on stamp duty for the purchase of property that cost less than RM250k. this is given for 1 house per individual and applies SPA signed between sept07 to dec10.

- get RM10k max relief on housing loan interest for the purchase of 1 unit of residential property for SPA signed between 10th march 09 to 31st dec 2010.

No comments:

Post a Comment