Income Tax Calculator Malaysia

This means that low income earners are imposed with a lower tax rate compared to those with a higher income.

Income tax calculator malaysia. Your average tax rate is 15 12 and your marginal tax rate is 22 50 this marginal tax rate means that your immediate additional income will be taxed at this rate. As a general rule of thumb if both spouses are earning high incomes in the year of assessment it is always recommended to opt for separate assessment to leverage on the tax reliefs. The system is thus based on the taxpayer s ability to pay. An income tax calculator malaysia is a tax that governments impose on income generated by businesses and individuals.

The monthly wage calculator is updated with the latest income tax rates in malaysia for 2020 and is a great calculator for working out your income tax and salary after tax based on a monthly income. Review the full instructions for using the malaysia salary after tax calculators which details malaysia tax. The calculator is designed to be used online with mobile desktop and tablet devices. Income taxes are a source of revenue governments to provide public services and provide goods for citizens.

If you make rm 70 000 a year living in malaysia you will be taxed rm 10 582 that means that your net pay will be rm 59 418 per year or rm 4 952 per month.