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Higher tax relief for individual taxpayers proposed
KUALA LUMPUR, Nov 6 -- The government is proposing that the income tax relief for the cost of medical treatment, special needs and parental care be increased from RM5,000 to RM8,000.
Based on the Budget 2021 appendix released today, a tax relief up to RM6,000 can be claimed by individual taxpayers on medical treatment expenses for serious diseases.
The Finance Ministry said this includes a tax relief of up to RM500 for a full medical examination.
"The scope for tax relief on medical treatment expenses has also been expanded to cover vaccination expenses for the individual taxpayers, spouse and child, limited to RM1,000,” it said.
The appendix also stated that individual tax payers with disabled partners have also been given an additional tax relief of RM3,500.
The budget also highlighted that for tax relief on lifestyle, the tax relief limit would be increased from RM2,500 to RM3,000, where the additional RM500 is for sports expenditure, rental of sport facilities and competition.
This scope also covers electronic newspapers subscription.
-- BERNAMA
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