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Age Limit To Claim Dependent On Taxes – 9 ways to maximize income tax relief for family caregivers in 2023 (YA2022) Caring for a loved one? It can also mean making the most of your income tax breaks. Learn everything you need to know about income tax relief for family caregivers with this quick guide.
Before submitting your taxes on the Mega Hasil Delam Negri website or on the website of their offices, did you know that family caregivers can receive additional discounts?
Age Limit To Claim Dependent On Taxes
Malaysian carers are entitled to a number of tax deductions for expenses this year. In this article we detail everything you need to know about relevant tax breaks as a family caregiver.
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Here are 9 types of tax relief you can claim to maximize your tax refund and reduce your taxable income:
A total claim amount of RM9, 000 is automatically awarded to each individual and any dependents they have upon completing the Inland Revenue Board Of Malaysia (LHDN) electronic form.
Children caring for parents with medical conditions verified by a doctor are entitled to an additional relief of RM5,000 for any cost arising from special treatments or medical needs. This includes any care or medical treatment provided by a nursing home or even dental care such as tooth extractions, fillings and tartar. Cosmetic dentistry, crowning, root canal treatment and dentures are not included in the deductible.
If the custodial parents are considered healthy, a total claimable amount of RM3,000 is available when a relief of RM1,500 is allocated to each parent. It is important to note that only one (1) child may claim parental allowance for any given year and the annual income of each parent shall not exceed RM24,000.
Section 80dd Of Income Tax Act
A total tax relief of RM6,000 is available for the purchase of basic support equipment for a disabled loved one under a person’s care. This includes the hemodialysis machine, wheelchair, artificial legs and hearing aids but does not include glasses and optical lenses. It is also important to note that the elderly loved one must first be registered with the Ministry of Social Affairs (DSW) as disabled in order for the equipment to be claimable.
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Apart from the parents’ medical expenses, a total amount of RM8,000 can also be claimed for yourself, spouse or child. This includes treatments for serious illnesses such as:
You can also claim for other similar illnesses such as heart attack, pulmonary hypertension, chronic liver disease, fulminant viral hepatitis, head trauma with neurological impairment, brain tumor or vascular malformation, major burns, major organ transplant and major limb amputation.
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You can also claim tax credits for the COVID-19 vaccination and swab test expenses of up to RM1,000 for yourself, your spouse and your children.
Full medical examinations, including mental health examinations for myself, spouses or children, can be claimed up to a total of RM1,000. However, this amount is also included in the maximum exemption of RM8, 000 for medical expenses of serious illnesses.
7. Disabled child A total relief amount of RM6,000 is given to an unmarried disabled child. If the unmarried disabled child is studying for higher education in Malaysia or abroad at degree level or above, an additional RM8,000 can be claimed. This brings the total amount of tax to be claimed to RM14,000 for a child. 8. Life Insurance and EPF
As a means of encouraging Malaysians to sign up for life insurance, a total sum of RM7, 000 can be claimed for life insurance and EPF for retired public servants. For individuals working in the private sector, a total of RM3,000 is available for the YA2022 assessment. This tax relief includes an insurance premium paid for a spouse but not for children under sole supervision. Individuals working for the private sector that contributed to EPF or any approved scheme can claim RM4,000 for YA2022.
Everything You Should Claim As Income Tax Relief Malaysia 2023 (ya 2022)
Finally, caregivers can enjoy tax relief of up to RM3,000 for each payment made on an insurance premium for the education or medical needs of a spouse or child.
For more information on the 2020 tax relief, please see the master notes here.
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Fathima is a graduate of English linguistics who finds her vocation in the field of marketing. In her free time, Fathima enjoys going to coffee shops, doing arts and crafts, and baking. Fatima is also a cat mom of four and loves all things kawaii and aesthetic!
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The staff were great to work with, although we had to temporarily stop hiring them for care services due to…
My father recently fell and broke his hip. Lives abroad and cannot return…
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Our experience was very positive. So far, we have used their Care Pros maybe 10 times (to check in… for example, if your child is born in 2022, child related reliefs and discounts for him/her will be considered from YA 2023 Note that personal tax relief cap Income of $80,000 applies to the total amount of all tax credits claimed for each Y.A.
Mr. and Mrs. Tan had a child. They agreed to share the $4,000 QCR equally.
Mr. and Mrs. Lim had their first child in 2022. Mrs. Lim was working and had an income of $100,000 that year. The amount of WMCR she may claim for the year of assessment 2023 is $15,000 (ie $100,000 x 15%).
PTR is given to tax residents of Singapore to encourage them to have more children. If you are married and have a child who is a Singapore citizen, you can claim PTR in the relevant year.
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Mr and Mrs Koh have their first child (Singaporean) in 2022. They are entitled to PTR of $5,000 for their first child and have agreed to share the PTR equally.
Mr and Mrs Koh’s gross tax payable for the year of assessment (YA) 2023 is $2,930 and $1,802.30 respectively. The PTR that will be used for YA 2023 are as follows:
Mr. Ko has fully utilized his share of PTR in YA 2023, while Mrs. Ko has only utilized $1,802.30. The unused amount of PTR (i.e. $697.70) in Mrs. Koh’s account will automatically be transferred to her income tax offset payable for the following YA/s, until it is fully utilized.
FDWL relief is given to encourage married women to stay in the workforce. Singles and married men are not eligible for this relief.
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Mr. Lee employed a foreign domestic worker from October 2022 to December 2022 and paid a levy at a concession rate.
GCR is given to working mothers who rely on the help of their parents, grandparents, parents or grandparents (including those of ex-spouses) to care for their children. Single taxpayers or male taxpayers are not eligible for this relief.
Mr. and Mrs. Sim have a first child (Singapore citizen) in 2022. Mrs. Sim is a working mother and has been helped by her mother-in-law to take care of the child. Her mother-in-law lived in Singapore and did not work or engage in any trade, business, profession or profession in 2022. In addition, no one else is claiming GCR for her mother-in-law. Thus, Mrs Sim may claim a GCR of $3,000 on her mother-in-law for the year of assessment 2023.
NSman Wife Assistance of $750 is given to the wives of NSman men to recognize the support they give to their husbands. You will be entitled to this relief if the following conditions are met:
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You do not need to claim this relief as it will be given to you automatically as per your eligibility.
Mr and Mrs Ng have their first child (Singapore citizen) in 2022. They agree to share the qualifying child allowance and parenting tax credit equally.
Mrs. Ng is a working mother and was helped by her mother-in-law to take care of her child. Mr. Ng employed a foreign worker from October 2022 to December 2022 and paid levy at a concession rate. In addition, he performed NS activities in 2022. The tax calculation for assessment year 2023 is as follows:
* Mr. Ng fully utilized his PTR share in YA 2023, while Mrs. Ng only utilized $1,802.30. The unused amount of PTR (i.e. $697.70) in Mrs Ng’s account will be automatically transferred to her offset
