Computation Format for Individual Tax Liability for the year of assessment 2021

SECTION 4(A):

Business 1:
Gross income / Net profit before tax XXX
(-) Expenses qualified for double deduction (XX)
(-) Revenue expenses capitalized (XX)
(-) Non-taxable items credited to SOCI (XX)
(-) Investment income separately assessed (XX)
(+) Non allowable expenses Nil
(+) Capital asset expensed of to SOCI Nil
ADJUSTED BUSINESS INCOME XXX

(+) BC XX
(-) CA (current year and b/f) (XX)
STATUTORY BUSINESS INCOME XXX

Business 2:
Gross income / Net profit before tax XXX
(-) Expenses qualified for double deduction (XX)
(-) Revenue expenses capitalized (XX)
(-) Non-taxable items credited to SOCI (XX)
(-) Investment income separately assessed (XX)
(+) Non allowable expenses Nil
(+) Capital asset expensed of to SOCI Nil
ADJUSTED BUSINESS INCOME XXX

(+) BC XX
(-) CA (current year and b/f) (XX)
STATUTORY BUSINESS INCOME XXX

Aggregate Statutory Business Income XXX

(-) Business loss c/f from last years / Unabsorbed loss c/f (XX)
NET STATUTORY BUSINESS INCOME XXX

SECTION 4(B):

s13(1)(a) Convertible into money XX

s13(1)(b) Benefits-in-kind XX
s13(1)(c) Unfurnished accommodation provided by employer XX
s13(1)(d) Withdrawal from unapproved funds XX
s13(1)(e) Compensation for loss of employment XX
TOTAL EMPLOYMENT INCOME XXX
SECTION 4(C) :

Dividends:
Single-tier dividend system (YA 2008) Exempted
Co-operative society Exempted
Exempt income of unit trusts Exempted
Exempt-income-accounts (EIA) Exempted

Interests:
Securities/bonds issued/guaranteed by government Exempted
Debentures approved by SC Exempted
Bon Simpanan Malaysia (issued by BNM) Exempted
Certificates issued by government Exempted
Premium saving certificate Exempted
Bonds / securities issued by Pengurusan Danaharta Nasional Exempted
Non-convertible bond by company listed in MESDAQ Exempted
Merdeka bond by BNM Exempted
Islamic securities originating from Malaysia Exempted

NET INVESTMENT INCOME XXX

SECTION 4(D):

Gross Rental Income XXX

(-) Expenses wholly and exclusively incurred in production of rental income (XX)
(-) Non-deductible expenses Nil
NET RENTAL INCOME XXX

* Rental loss cannot be used to offset against other income of c/f

SECTION 4(E):

Gross Royalty Income XXX

(-) Expenses wholly and exclusively incurred in production of royalty income (XX)
ADJUSTED ROYALTY INCOME XXX

(-) Exemptions:
Publication / Use of / right to use artistic works -10,000
Translation of books requested by MOE, MOHE -12,000
Publication of any literary work / original painting -20,000
Income from cultural performances
Musical composition -20,000
Honorarium
Scientific research
NET ROYALTY INCOME XXX
SECTION 4(F):
Alimony XX
One-off income XX
Total other incomes XXX

AGGREGATE INCOME XXXX

(-) Current year business loss (XX)
(-) Approved donation (restricted to 10% of Aggregate Income) (XX)

TOTAL INCOME XXXX

(-) Reliefs:
Self 9000
Husband / wife (disabled wife / husband = additional RM 4,000) 4,000
Medical treatment, special needs and carer expenses for parents 8,000

Disabled person 6000

Children:
Normal less than 18 years 2000
Disabled less than 18 years 6000
Normal above 18 years studying "A-Level", certificate, matriculation
or preparatory courses 2,000
Normal studying in university 8000
Disabled studying in university (6k +8K) 14000
Married nil
Medical expenses for serious disease (taxpayer, spouse, children)
Medical expenses for fertility treatment for self or spouse
Vaccination expenses for self, spouse and child. Types of vaccine which
qualify for deduction are as follows:

Pneumococcal;
Human papillomavirus (HPV);
Influenza;
Rotavirus;
Varicella; 8000
Meningococcal;
TDAP combination ( tetanus-diphtheria-acellular-pertussis); and
Coronavirus Disease 2019 (Covid-19)
(Restricted to 1,000)
(i) Complete medical examination for self, spouse, child as defined by
the Malaysian Medical Council (MMC).
(ii) COVID-19 detection test including purchase of self detection test kit
for self, spouse, child.
(Restricted to 1,000)
Basic supporting equipment (taxpayer, spouse, children, parents) 6000
Life insurance premiums (LIP) and EPF 7000
Deferred Annuity and Private Retirement Scheme (PRS) 3,000
Contribution to the Social Security Organization (SOCSO) 250
 Educational fee for self-improvement 7000
Lifestyle – Expenses for the use / benefit of self, spouse or child in
respect of:

purchase and subscription of books / journals / magazines / newspapers

(including electronic subscription) / other similar publications (Not
banned reading materials)
purchase of personal computer, smartphone or tablet (Not for business
use)
purchase of sports equipment for sports activity defined under the Sports
Development Act 1997 and payment of gym membership
payment of monthly bill for internet subscription (Under own name) 2,500
Lifestyle – Purchase of personal computer, smartphone or tablet for self,
spouse or child and not for business use 2,500
Purchase of breastfeeding equipment for own use for a child aged 2
years and below (Deduction allowed once in every 2 years of
assessment) 1,000
Payment for child care fees to a registered child care centre /
kindergarten for a child aged 6 years and below 3,000
Personal computers (once in 3 years) 3000
Additional lifestyle -Purchase of sport equipment 500
SSPN 8000
Education or medical insurance 3000
Payment for accommodation at premises registered with the
Commissioner of Tourism and entrance fee to a tourist attraction

(Expenses incurred on or after 1st March 2020 until 31st December

2021) 1,000

CHARGEABLE INCOME XXX

On the first
On the next
INCOME TAX PAYABLE XX

(-) Rebate RM 400 (if chargeable income < RM 35,000) (400)

(-) Zakat (amount incurred) (XX)

NET INCOME TAX PAYABLE / REFUNDABLE XX