Malaysia Boosts Middle-Income Group's Disposable Income via Tax Exemption Increase to RM12,000
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Insights by Echo AI
Budget 2027 introduces an increase in individual tax exemption from RM9,000 to RM12,000, benefiting the middle-income group (M40). This move is expected to boost their disposable income and help ease the burden of living costs. The increase allows taxable income to be reduced, potentially reducing the amount of tax payable. Additionally, the income tax rate for residents is reduced by one percentage point. The increase in tax exemption also covers expenditure on the care of parents and grandparents, and the purchase of sports equipment.
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