Lim Pei Hau and Adam Teh, directors of WeCorporate Global Consultancy Sdn Bhd shared their insights on the Budget 2021, in the perspective of local citizens who are also taxpayers to Malaysia.

Content:
– Overview of Key Changes to Personal Income Tax in 2021
– Personal Tax Reliefs Claimable in 2021
– Income Tax Exemption on Loss of Employment
– Reduction in EPF Contribution Rate / Withdrawal from EPF
– Hiring Incentives to Generate Jobs (Penjana Kerjaya, Wage Subsidy, and EIS)
– Bonus Topic: Implications of Budget 2021 on SMEs in Malaysia


KCLau
KCLau

Financial educator, author and trainer

    2 replies to "The Malaysian Budget 2021: Impact to Our Personal Income Tax"

    • Mano

      For the tax relief on lifestyle, specifically the additional RM 2500 for laptop/computer/ tablet or handphone. I checked under CF Liew webinar, he mentioned Penjana has replied that we are can apply for this if we have bought these material. So, just to clarify with your team again on this matter.
      Thanks!

      • KCLau

        It seems like there are confusions about the info, not sure who got the correct one. Both parties (Lieu & WeCorporate) also contacted IRB and the response from different representatives show different conclusion.
        I suggest that you save the proof of respond from IRB saying that it is claimable. You can personally email them. That will clear the argument when audited.

        However, there are many sources saying that the extra RM2500 is true valid June-Dec 2020 only.
        https://home.kpmg/xx/en/home/insights/2020/06/flash-alert-2020-298.html

        I think it should be safe to claim that.

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