In income tax planning, the tax strategy is to pay the taxes and plan the income to minimize
the tax payable. An individual has several ways to reduce their tax bill which include relief
and tax rebates. A relief is a deduction from the total income, reducing chargeable income,
and a tax rebate is a deduction of tax payable.
1. Donation
Year 2016
10 Net saving in SSPN's scheme (with effect from year 6,000 (Limited)
assessment 2012 until year assessment 2017)
11 Purchase of sport equipment for sport activities 300 (Limited)
20 Deferred Annuity and Private Retirement Scheme (PRS) - with 3,000 (Limited)
effect from year assessment 2012 until year assessment 2021
21 Insurance premium for education or medical benefit 3,000 (Limited)
Year Of Year Of
Assessment Assessment
2001 - 2008 2009
No. Tax Rebate Onwards
(RM) (RM)
a Separate Assessment - -
Wife 350 400
Husband 350 400
b Combined Assessment - -
Wife 350 400
Husband 350 400