Internet Subscription Tax Relief Malaysia

Did you know that in 2016 the reading material and personal computer slash smartphone income tax relief used to have a combined worth of rm4 000. Buying reading materials a personal computer smartphone or tablet or sports equipment and gym memberships for yourself spouse or child allows you to claim for tax relief. Internet subscription paid through monthly bill registered under your own name.

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The previous laptop books stationary and sports equipment tax relief is now grouped under lifestyle tax too.

Internet subscription tax relief malaysia. Malaysia inland revenue board irb on 12 april 2011 issued a technical guideline on personal tax relief or deduction on the broadband subscription fee. As per inland revenue board of malaysia official portal lifestyle covered a few items as per attached. Subscription fees for broadband registered in the name of the individual with effect from year of assessment 2010 2012 500 limited 14. Interest expended to finance purchase of residential property.

But digi said prepaid bigbonus internet plans not entitled for this lifestyle tax relief. Refer to this list of the income tax relief 2018 malaysia. It clarifies that individual employee who receives benefit on using the broadband 1 registered under the name of employer and 2 the fee is paid by employer is exempted from tax. So if you bought a computer that costs more than that you can no longer include your gym membership internet subscription and others for income tax relief.

The government has added a lifestyle tax relief during the 2017 budget which now includes smartphones tablets and monthly internet subscription bills. Payment of monthly bill for internet subscription. Which prepaid bigbonus internet plans is purely for monthly internet subscription only. Effective for year of assessment 2017 tax filed in 2018 the lifestyle tax relief at a limit of rm2 500 yearly also includes new categories such as the purchase of printed newspapers smartphones and tablets internet subscriptions as well as gymnasium membership fees.

The maximum income tax relief amount for the lifestyle category is rm2 500. Internet subscription paid through monthly bill registered under your own name. Buying reading materials a personal computer smartphone or tablet or sports equipment and gym memberships for yourself spouse or child allows you to claim for tax relief. Relief of up to rm10 000 a year for three consecutive years from the first year the interest is paid.

If you digest this by dec 2019 then in april 2020 you don t need scramble around to find the receipts for items you purchased the year before. If you didn t make the most out of the lifestyle income tax relief before now is the time to do it. You can get up to rm2 500 worth of tax relief for lifestyle expenses under this category. Because this is the most comprehensive and practical guide on income tax relief in malaysia for the non tax savvy you yes you.

Subject to the following conditions. Iv payment of monthly bill for internet subscription. You can get up to rm2 500 worth of tax relief for lifestyle expenses under this category.