TAX QUESTIONS? YOU ASK LAH!

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Q: I have made a mandatory contribution of RM5,000 to the EPF and an additional voluntary contribution of RM4,000 to the EPF. How much can I claim for tax relief on these EPF contributions?

A: With effect from the year of assessment 2023, you are eligible to claim a tax relief of up to RM4,000 for the mandatory contribution to the EPF and up to RM3,000 for the additional voluntary contribution to the EPF, amounting to a maximum of RM7,000. 

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

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