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Friday, September 30, 2022
HomeNewsCovid-19 Vaccine, Test Kits & a complete list of other 2022 tax...

Covid-19 Vaccine, Test Kits & a complete list of other 2022 tax relief 

The government has offered up several tax reliefs to lessen our financial burdens.

Some of these behaviours and practices include to encourage reading by providing tax relief for purchases of books and to encourage exercise and sportsmanship by providing tax relief for purchases of sporting equipment and registration fees for sporting tournaments.

Here is a full list of tax reliefs you can looks forward to this season: 

Individual and dependent relatives (RM9,000)

Medical treatment, special needs and carer expenses for parents (restricted to RM8,000)

  • This is only eligible for parents with medical conditions certified by medical practitioners. 

Purchase of basic supporting equipment for disabled self, spouse, child or parent (restricted to RM6,000)

Disabled individuals (RM6,000)

Education fees for yourself (restricted to RM7,000)

  • If you’re taking up a degree at a masters or doctorate level, you are eligible for the tax relief no matter the course you are studying. Though, for undergraduate degrees, you are only eligible for the tax relief if you are taking up the following courses: law, accounting, Islamic financing, technical, vocational, industrial, scientific and technology studies.
  • You are also restricted to a RM1,000 tax relief if you are taking courses for the purpose of up-skilling or self-enhancement recognised by the Director General of Skills Development under the National Skills Development Act 2006, effective from YA 2021 until YA 2022.

Medical expenses for serious diseases for self, spouse or child (restricted to RM8,000)

Medical expenses for fertility treatment for self or spouse (restricted to RM8,000)

Vaccination expenses for self, spouse and child (restricted to RM1,000)

Types of vaccine which qualify for deduction are as follows:

  • Pneumococcal;
  • Human papillomavirus (HPV)
  • Influenza;
  • Rotavirus;
  • Varicella;
  • Meningococcal;
  • TDAP combination ( tetanus-diphtheria-acellular-pertussis)
  • Coronavirus Disease 2019 (Covid-19)

You can also claim tax relief restricted to RM1,000 for complete medical examinations for yourself, your spouse and your child, as well as Covid-19 detection tests and vaccination expenses for yourself, your spouse and your child.

Lifestyle – Expenses for the use/benefit of yourself, your spouse or your child (restricted to RM2,500)

  • This includes the purchase and subscription of books/journals/magazines/newspapers (including electronic subscription) and other similar publications except banned reading materials.
  • You can also enjoy this tax relief for the purchase of personal computers, smartphones or tablets that are not for business uses and the purchase of sports equipment for sports activities defined under the Sports Development Act 1997 and the payment of gym membership.
  • If you internet subscription is under your own name, the monthly payment for that also applies for this tax relief.

Lifestyle – Purchase of personal computers, smartphones or tablets for yourself, your spouse or your child that are not for business uses (restricted to RM2,500)

  • This deduction is an addition to the deduction granted under item 10.

Purchase of breastfeeding equipment for your own use for children aged 2 years and below (restricted to RM1,000)

  • This deduction is only allowed once in every 2 years of assessment.

Payment for child care fees to a registered child care centre/kindergarten for children aged 6 years and below (restricted to RM3,000)

Net deposit in Skim Simpanan Pendidikan Nasional (restricted to RM8,000)

  • This net deposit is the total deposit in 2021 MINUS the total withdrawal in 2021.

Husband/wife (restricted to RM4,000)

  • This includes the payment of alimony to former wives.

Disabled husband/wife (RM5,000)

Each unmarried child and under the age of 18 years old (RM2,000)

Each unmarried child of 18 years and above (RM2,000)

  • This tax relief is only eligible for parents of children who are receiving a full-time education including A-Levels, certificate, matriculation or preparatory courses.

Each unmarried child of 18 years and above (RM8,000)

  • This tax relief is only eligible for parents of children receiving further education in Malaysia, in respect of an award of diploma or higher, excluding matriculation or preparatory courses.
  • Parents of children receiving further education outside Malaysia in respect of an award of degree or its equivalent including Masters or Doctorates are also eligible.
  • The instruction and educational establishment shall be approved by the relevant government authorities.

 Parents with disabled children (RM6,000)

  • Parents will receive an additional exemption of RM8,000 for disabled children aged 18 years and above, who are not married and pursuing diplomas or above qualification in Malaysia such as bachelor degree or above outside Malaysia.
  • This additional exemption is only eligible for programs and Higher Education Institutes that are accredited by related Government authorities.

Life insurance and EPF (restricted to RM7,000)

This includes whatever that does not go through payroll deductions.

  1. Pensionable public servant category
    • Life insurance premium
  2. Other than pensionable public servant category
    • Life insurance premium (Restricted to RM3,000)
    • Contribution to EPF / approved scheme (Restricted to RM4,000)

Deferred Annuity and Private Retirement Scheme (PRS) (restricted to RM3,000)

  • This is with effect from the assessment year of 2012 until the assessment year of 2025.

Education and medical insurance (restricted to RM3,000)

  • This includes whatever that does not go through payroll deductions.

Contribution to the Social Security Organization (SOCSO) (restricted to RM250)

Payment for accommodation at premises registered with the Commissioner of Tourism and entrance fee to a tourist attraction (restricted to RM1,000)

  • This is only eligible for expenses incurred on or after 1 March 2020 until 31st December 2021. Registered accommodation premises can be checked here

Additional lifestyle tax relief related to sports activities (restricted to RM500)

  • This includes the purchases of sports equipment for any sports activities as defined under the Sport Development Act 1997 (excluding motorised two-wheeled bicycles).
  • You are also eligible for this tax relief for the payment of rental or entrance fees to any sports facility and for the payment of registration fees for any sports competition where the organizer is approved and licensed by the Commissioner of Sports under the Sport Development Act 1997.
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