Calculation for PCB 2013 income tax deduction

The Potongan Cukai Bulanan (PCB, a.k.a. Scheduled Monthly Tax Deduction) for year 2013 need to take into consideration of the following:

• The individual income tax rate be reduced by 1 percentage point for each grouped annual income tax exceeding RM2,500 to RM50,000 with effective year assessment 2013.
• The existing deduction on the children’s higher education amounting to RM4,000 per person be increased to RM6,000, commencing from year of assessment 2013.
• Current relief of RM3,000 for savings in the National Education Savings Scheme (SSPN) is increased to RM6,000. The deduction is effective from year of assessment 2012 until year of assessment 2017.
• With effective from year 2013, the subscription fee of Internet broadband is no longer a deduction.

While a new Jadual PCB 2013 schedule table is expected, it is not found in the official website of the Inland Revenue Board of Malaysia (a.k.a. Lembaga Hasil Dalam Negeri, LHDN) yet.

However, there is a document called Specification For Monthly Tax Deduction (MTD) Calculations Using Computerised Calculation Method For MTD 2013 or  Spesifikasi Pengiraan PCB Menggunakan Kaedah Pengiraan Berkomputer Untuk PCB 2013 is available for download from the website. The document provides detail explanation on the amendment to calculate PCB 2013.

Click here to download Specification For Monthly Tax Deduction (MTD) Calculations Using Computerised Calculation Method For MTD 2013.

Besides, there is also an online PCB calculator available in LHDN website for calculation of PCB 2011, 2012 and 2013.

PCB 2012 income tax deduction rate, calculation and table

If you are looking for the Potongan Cukai Bulanan (PCB, a.k.a. Scheduled Monthly Tax Deduction) 2012 table (Jadual PCB 2012) from the Inland Revenue Board of Malaysia (a.k.a. Lembaga Hasil Dalam Negeri, LHDN), it is available in a document published as Income Tax (Deduction from Remuneration)(Amendment) Rules 2012 or Kaedah-kaedah Cukai Pendapatan (Potongan Daripada Saraan) (Pindaan) 2012.

The Jadual PCB 2012 schedule table starts from Page 61 until Page 86 of the document. You will notice that actually it is the same table as Jadual PCB 2010 published before.

The document also has detail explanation on how the PCB 2012 is calculated.

Click here to download the Income Tax (Deduction from Remuneration)(Amendment) Rules 2012 document.

Auspicious dates for baby first haircut (Mundan) in 2013

In many culture, religion and/or tradition, the first haircut of a baby is considered an important milestone for his/her life. The day is known as Mundan, Chadakarana, Halaqah, Upsherin, etc.

Here is the list of auspicious dates for baby first haircut in year 2013, which is produced based on the Chinese almanac Tong Shu. (Click the image to enlarge)

Bear in mind that although the Tong Shu is a compilation of Chinese astrology and calendaring studies gathering wisdom of thousands of years, we should use it wisely and rationally, but not be too superstitious on it.