Q.
a) Explain ten (10) items that could be given tax relief under the assessment of Income Tax 2017. (20 marks)
b) Discuss the life style tax relief for 2017 assessment and what is the maximum amount that can be claimed. (5 marks)
(25 marks, 2017 Q2)
A.
a) 10 items that could be given tax relief under the assessment of Income Tax 2017 are:
b) Life style tax relief 2017
Deductible Amount: RM2,500 (Maximum deductible amount)
In 2017, the new lifestyle tax relief allows you to claim on items that were not covered previously, which include broadband, gym membership, as well as smartphones and tablets! What’s more, you get to claim for these on a yearly basis. Here’s a list of the things that can be claimed under the lifestyle tax relief:
- Computer
- Reading materials
- Newspaper
- Sports equipment
- Broadband
- Gym membership
- Smartphones and tablets
Ref:
https://ringgitplus.com/en/blog/Personal-Finance-News/Maximise-Your-Income-Tax-Relief-in-2017-By-Spending-On-These.html
http://mypf.my/wp-content/uploads/2017/03/2017-malaysian-tax-booklet.pdf