jonnyalliance
New member
A lot of people don't seem to know about this and thought I'd share as the year is coming to a close. In Budget 2023, the scope of the Life Insurance category was expanded to include voluntary contribution to the EPF (i.e. self contribution), capped at the same overall limit of RM3,000.
This is very useful for those who are not yet maxing out their Life Insurance tax relief. This is effective YA 2023 (i.e. when you file for this year's tax next year).
Source: https://www.kwsp.gov.my/en/web/guest/w/budget-2023-seeks-to-improve-social-wellbeing-infrastructure
Expanding the scope of annual tax relief for life insurance premiums or life takaful contributions to cover voluntary contributions to the EPF of up to RM3,000.
This is very useful for those who are not yet maxing out their Life Insurance tax relief. This is effective YA 2023 (i.e. when you file for this year's tax next year).
Source: https://www.kwsp.gov.my/en/web/guest/w/budget-2023-seeks-to-improve-social-wellbeing-infrastructure
Expanding the scope of annual tax relief for life insurance premiums or life takaful contributions to cover voluntary contributions to the EPF of up to RM3,000.