A simplified calculator to calculate your EPF, life insurance, medical insurance and PRS Malaysian tax relief.
Insurance Tax Relief Calculator Tips
3 Categories for Tax Relief:
- EPF: limited to RM4,000
- Life insurance: limited to RM3,000
- Education or medical benefit: limited to RM3,000
- Deferred Annuity and PRS: limited to RM3,000
Note: Insurance payment premiums through salary deduction are also entitled
Tax relief calculation based on year of assessment 2019 tax relief and to maximize tax relief amount.
For Education/Life, 100% of premiums paid eligible for tax relief as education policy OR life policy.
For Medical/Life, 60% of premiums paid eligible for tax relief as medical policy OR 100% of premiums paid eligible for tax relief as life policy.
Accidental/ waiver riders premiums paid are not eligible for tax relief.
For information sharing purposes only. E&OE.
More info on Life Insurance and Tax Relief