Uncategorized

Foreigners earning taxable Malaysian rental

Posted on

The net rental is taxable at a flat rate of 28% income tax after deduction for loan finance interest, assessment, quit rent, insurance, repairs, maintenance, service charges and sinking fund payments. The annual tax filing is via the Form M to the Inland Revenue Non-Resident Branch. If the Malaysian property is disposed and capital gains […]

Uncategorized

New Lifestyle Tax Relief from YA2017

Posted on

This new personal tax relief of RM2,500 per year combines the previous annual reliefs like the book & magazine relief of RM1,000, sports equipment relief of RM300 and a personal computer of RM3,000 once in three years. This new lifestyle tax relief is expanded to include the purchase of a smartphone or tablet, internet subscription […]