Maximize your 2009 personal income tax deduction

Now we still have until 31 December 2009, which is less than one month time, to utilize and maximize any of the following income tax relief and/or deduction items for 2009.

• EPF contribution and life insurance premium (max RM6,000)
• Education and/or medical insurance premium (max RM3,000)
• Skim Simpanan Pendidikan Nasional (max RM3,000)
• Parent's medical expenses (max RM5,000)
• Annual medical check-up (health screening) for yourself, spouse and/or children (max RM500)
• Course fees for technical, vocational, industrial, scientific, technology, law, accounting, Islamic financing trainings at tertiary or postgraduate level (max RM5,000)
• Books, magazines, journals and other similar publications, either printed or electronic format, excluding newspaper (max RM1,000)
• Purchase of new computer, applicable once every 3 years (RM3,000)
• Sport equipments for any sport activity defined in Sports Development Act 1997 (RM300)
• Donations to approved institutions (max 7% deduction from aggregate income)
• Interest expended to finance purchase of residential property, with S&P signed between 10 March 2009 and 31 December 2010, and the residential property is not rented out (max RM10,000)

Note that if you subscribed for the deferred annuity retirement insurance scheme, you will get an additional RM1,000 relief under Section 49(1) of Income Tax Act 1967. Otherwise, the maximum relief under this category will remain as RM6,000 only. (applicable to assessment year 2010)


Do remember to keep all the relevant receipts for tax assessment purpose.