Here are a list of items that you wish you could still claim for tax relief:<\/p>\n
<\/span>1)\u00a0<\/b>Your broadband service<\/b><\/span><\/h2>\n![\"taxrelief1\"](\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/taxrelief11.png\")
<\/h2>\n
What do gaming fan boys and Instagram aficionados have in common? Both will not be getting any tax relief for their broadband subscription this year, that\u2019s what!<\/p>\n
Up till the year 2012, tax payers could lay claim to up to RM500 for broadband subscription under a personal name. It can be in the form of fixed-line service provider such as TM Streamyx or wireless internet broadband packages offered by Maxis, Celcom or DIGI.<\/p>\n
While you won\u2019t be getting any relief for your broadband subscription this time around, you can still stretch your Ringgit further by choosing a broadband package<\/a> that is best suited for your browsing habits and lifestyle needs.<\/p>\n<\/span>2)\u00a0\u00a0<\/b>Your new iPad<\/b><\/span><\/h2>\n![\"taxrelief2\"](\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/taxrelief22.png\")
<\/p>\n
There\u2019s good and bad news for gadget geeks.<\/p>\n
The good: Purchase of personal computers and laptops (including MacBooks) continue to be tax claimable for up to RM3,000 (but only once in every three years).<\/p>\n
And the bad: From assessment year 2013, the Inland Revenue Board of Malaysia (LHDN) has declared that tablet devices, which include Apple\u2019s iPads, Samsung Tab and Google\u2019s Nexus 9, are not included in the list of tax deductible items.<\/p>\n
So tablet owners will not be getting tax relief for their purchases this year. However, you still stand to enjoy some pretty cool privileges the next time you plan to purchase a tablet by using a credit card that rewards you for your spending.<\/p>\n
For example, CIMB Bank cardholders get to enjoy 10% discount on weekends<\/a> when they make a purchase on Lazada. Meanwhile, the\u00a0Standard Chartered CashBack Gold MasterCard<\/a> offers 5% cashback for shopping expenditure exceeding RM1,500 per month.<\/p>\n<\/span>3)\u00a0<\/b>Your home loan interest<\/b><\/span><\/h2>\n![\"taxrelief3\"](\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/taxrelief3.png\")
<\/p>\n
It has been tough for many Malaysians to afford their first home to due the escalating property prices. To make matter worse, the tax relief for interest expended for the first three years of a residential property has not been extended.<\/p>\n
Homebuyers who signed their sales and purchase agreement between March 10, 2009 and December 31, 2010, had formerly enjoyed a tax relief of up to RM10,000 (for just one unit) every year for the first three years on the interest of their housing loan. The last claim allowed for this was for assessment year 2013.<\/p>\n
For buyers who bought properties after 2010, they will no longer enjoy any tax relief for their property, but instead be slapped with a higher Real Property Gains Tax (RPGT) from 15% to 30% for properties disposed in the first three years.<\/p>\n
<\/span>It\u2019s not all gloom and doom\u2026<\/b><\/span><\/h2>\nTax payers may have a harder time finding ways to utilise their tax reliefs this year as compared to the years before, but they can look forward to paying less taxes in the year ahead.<\/p>\n
<\/h2>\n<\/span>2)\u00a0\u00a0<\/b>Your new iPad<\/b><\/span><\/h2>\n<\/p>\n
There\u2019s good and bad news for gadget geeks.<\/p>\n
The good: Purchase of personal computers and laptops (including MacBooks) continue to be tax claimable for up to RM3,000 (but only once in every three years).<\/p>\n
And the bad: From assessment year 2013, the Inland Revenue Board of Malaysia (LHDN) has declared that tablet devices, which include Apple\u2019s iPads, Samsung Tab and Google\u2019s Nexus 9, are not included in the list of tax deductible items.<\/p>\n
So tablet owners will not be getting tax relief for their purchases this year. However, you still stand to enjoy some pretty cool privileges the next time you plan to purchase a tablet by using a credit card that rewards you for your spending.<\/p>\n
For example, CIMB Bank cardholders get to enjoy 10% discount on weekends<\/a> when they make a purchase on Lazada. Meanwhile, the\u00a0Standard Chartered CashBack Gold MasterCard<\/a> offers 5% cashback for shopping expenditure exceeding RM1,500 per month.<\/p>\n<\/span>3)\u00a0<\/b>Your home loan interest<\/b><\/span><\/h2>\n<\/p>\n
It has been tough for many Malaysians to afford their first home to due the escalating property prices. To make matter worse, the tax relief for interest expended for the first three years of a residential property has not been extended.<\/p>\n
Homebuyers who signed their sales and purchase agreement between March 10, 2009 and December 31, 2010, had formerly enjoyed a tax relief of up to RM10,000 (for just one unit) every year for the first three years on the interest of their housing loan. The last claim allowed for this was for assessment year 2013.<\/p>\n
For buyers who bought properties after 2010, they will no longer enjoy any tax relief for their property, but instead be slapped with a higher Real Property Gains Tax (RPGT) from 15% to 30% for properties disposed in the first three years.<\/p>\n
<\/span>It\u2019s not all gloom and doom\u2026<\/b><\/span><\/h2>\nTax payers may have a harder time finding ways to utilise their tax reliefs this year as compared to the years before, but they can look forward to paying less taxes in the year ahead.<\/p>\n
<\/p>\n<\/span>3)\u00a0<\/b>Your home loan interest<\/b><\/span><\/h2>\n<\/p>\n
It has been tough for many Malaysians to afford their first home to due the escalating property prices. To make matter worse, the tax relief for interest expended for the first three years of a residential property has not been extended.<\/p>\n
Homebuyers who signed their sales and purchase agreement between March 10, 2009 and December 31, 2010, had formerly enjoyed a tax relief of up to RM10,000 (for just one unit) every year for the first three years on the interest of their housing loan. The last claim allowed for this was for assessment year 2013.<\/p>\n
For buyers who bought properties after 2010, they will no longer enjoy any tax relief for their property, but instead be slapped with a higher Real Property Gains Tax (RPGT) from 15% to 30% for properties disposed in the first three years.<\/p>\n
<\/span>It\u2019s not all gloom and doom\u2026<\/b><\/span><\/h2>\nTax payers may have a harder time finding ways to utilise their tax reliefs this year as compared to the years before, but they can look forward to paying less taxes in the year ahead.<\/p>\n
<\/p>\nTax payers may have a harder time finding ways to utilise their tax reliefs this year as compared to the years before, but they can look forward to paying less taxes in the year ahead.<\/p>\n
![\"income](\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2016\/02\/exclusive-guide.png\")
<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"