Submitting your Personal Income Tax can be easy.

I hope this Guide will help you shoo away the jitters, and pay less tax!

Here are the 3 THINGS to do -

1. Collect documents
2. Fill in the blanks
3. Keep for 7 years

STEP 1

Prepare the ones in bold. The others should be provided to you.

1. EA/EC Form
2. Insurance premium receipts
3. Books / journals / magazines / newspapers / computer / smartphone / sports equipment / Gym Memberships / Internet Subscription receipts
4. Medical (including traditional) / Hospital / Pharmacy / Medical Examination receipts
5. Education for diploma / degree / Masters / PhD receipts
6. Donation / Zakat receipts
7. For your child - Child Care Centre / breastfeeding equipment / tertiary education / Maternity expenses receipts
8. Marriage and Children birth certificates

STEP 2

Log into the Self Assessment Form. For each blank space to fill, sum up what you have prepared in Step 1 and put in the final figure.

Interestingly, you have up to RM 105,750 of Tax Deductions to claim. This is where you pay less tax!

You need to back up all your tax deductions with proof of evidence. The government will tell you what receipts you need to collect ahead of time. So if you want to pay less taxes for next year, you have to start collecting today.

STEP 3

You need to keep everything you had used to submit the tax for 7 years. This includes everything in Step 1 and the summary which you will get after finishing Step 2.

You may want to consider this. For my clients, I prepare for them a nice slim folder, each labelled for a particular year. This folder is also useful for them to keep the receipts needed for next year's submission.

Personal Note

I hope this helps to gain a better understanding of what to do when submitting taxes, as well as equipping you with how you can optimize your taxes (by legally paying less taxes! hehe).