{"id":1512,"date":"2018-02-26T22:04:09","date_gmt":"2018-02-26T14:04:09","guid":{"rendered":"https:\/\/www.everydayonsales.com\/news\/?p=1512"},"modified":"2018-02-26T22:04:09","modified_gmt":"2018-02-26T14:04:09","slug":"malaysians-to-pay-two-per-cent-lesser-income-tax","status":"publish","type":"post","link":"https:\/\/www.everydayonsales.com\/news\/malaysians-to-pay-two-per-cent-lesser-income-tax\/","title":{"rendered":"Malaysians To Pay Two Per Cent Lesser Income Tax"},"content":{"rendered":"<p>Some good news before the election.<\/p>\n<h4>Malaysians To Pay Two Per Cent Lesser Income Tax<\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1514\" src=\"https:\/\/www.everydayonsales.com\/news\/wp-content\/uploads\/sites\/5\/2018\/02\/Malaysians-To-Pay-Two-Per-Cent-Lesser-Income-Tax.jpg\" alt=\"Malaysians To Pay Two Per Cent Lesser Income Tax\" width=\"768\" height=\"520\" srcset=\"\/wp-content\/uploads\/sites\/5\/2018\/02\/Malaysians-To-Pay-Two-Per-Cent-Lesser-Income-Tax.jpg 768w, \/wp-content\/uploads\/sites\/5\/2018\/02\/Malaysians-To-Pay-Two-Per-Cent-Lesser-Income-Tax-300x203.jpg 300w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/p>\n<p>The government has newly announced via Budget 2018 that those people who are earning between\u00a0<strong>RM20,000 to RM70,000<\/strong>\u00a0annually will enjoy a two per cent tax deduction for their individual income tax.<\/p>\n<p>The move was aimed to relieve and help the middle-income families or those in the M40 group with monthly household incomes of between RM3,000 and RM8,300.<\/p>\n<p>With this new news, There will be\u00a0<strong>260,000<\/strong>\u00a0Malaysians will automatically be exempted from paying their income tax, according to\u00a0<a href=\"https:\/\/www.thestar.com.my\/news\/nation\/2018\/02\/23\/tax-exemption-for-over-260000\/\"><em>The Star<\/em><\/a>.<\/p>\n<p>It is also expected that through the percentage deduction, Malaysians from the lowest bracket of chargeable income will be able to enjoy savings between RM300 to RM1,000.<\/p>\n<p>For those who are still wondering how much will they end up paying after the deduction, here\u2019s a quick guide based on your annual income:<\/p>\n<ul>\n<li>For those earning between\u00a0<strong>RM20,001 &#8211; RM35,000<\/strong>\u00a0annually will only have to pay\u00a0<strong>3%<\/strong>\u00a0instead of 5%<\/li>\n<li>For those earning between\u00a0<strong>RM35,001 &#8211; RM50,000<\/strong>\u00a0annually will only pay\u00a0<strong>8%<\/strong>\u00a0instead of 10%<\/li>\n<li>For those earning between\u00a0<strong>RM50,001 &#8211; RM70,000<\/strong>\u00a0annually will pay\u00a0<strong>14%\u00a0<\/strong>instead of 16%<\/li>\n<\/ul>\n<p>Sadly, those who earn above these brackets will pay the same percentage as they have previously.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Some good news before the election. Malaysians To Pay Two Per Cent Lesser Income&hellip;<\/p>\n","protected":false},"author":3,"featured_media":1514,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[89],"tags":[224],"class_list":["post-1512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-lesser-income-tax"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Malaysians To Pay Two Per Cent Lesser Income Tax<\/title>\n<meta name=\"description\" content=\"Some good news before the election. 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