-
Audit approach
Designing a tailored audit programme customised for your business, we will combine the collective skill and experience of assurance professionals around the world to deliver an audit that is efficient and provides assurance to your key stakeholders.
-
Audit methodology
We have adopted Grant Thornton International's Horizon audit approach and Voyager software, a revolutionary paperless audit designed to achieve a consistent standard of audit service.
-
MFRS
At Grant Thornton, our MFRS advisers can help you navigate the complexity of financial reporting.
-
Our local experts
Our local experts
-
Tax advisory & compliance
Our teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
-
Corporate & individual tax
Our teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
-
International tax & Global mobility services
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
-
Indirect tax
Our indirect tax specialists help clients in effective planning; assist to bring clarity to the legislation; assist and advise in audits or investigations. It is important for all entities, whether or not required to register for Sales Tax or Service Tax to analyse the impact of the taxes on their business operations, their revenues and expenses, and their customers and suppliers.
-
Tax audit & investigation
Tax audit and investigation
-
Transfer pricing
Transfer pricing
-
M&A, Restructuring & Forensics
Forensic
-
Corporate finance
Whether you are raising capital, disposing of a business or seeking a wider market for your company's shares on a stock market, we are ready to help make it a successful and stress-free experience for you.
-
Business risk services
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
-
Recovery and reorganisation
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
Tax Alert March 2018
5. March 2018Recap of Relief Reviewed / New Tax Reliefs for Individuals for the Year of Assessment 2017
Review of spouse (husband / wife) tax relief
The existing spouse relief of RM4,000 will no longer be applicable if either the husband or wife (other than a disable spouse) has an income which is derived from sources outside Malaysia and the gross income from those sources for a year of assessment is more than the amount of deduction allowed for a husband or wife.
New lifestyle tax relief
The tax reliefs previously available for amounts expended for the purchase of reading materials, sports equipment, computers and broadband internet subscription are combined into a new lifestyle tax relief which is limited to RM2,500 per year. The scope of the lifestyle relief is expanded to include :
- Purchase of printed daily newspaper ;
- Purchase of smart phone and tablet ;
- Monthly bill for internet subscription ; and
- Gymnasium membership fee.
New tax relief for purchase of breastfeeding equipment
A new tax relief of up to RM1,000 is provided for the purchase of breastfeeding equipment (complete set or separate parts). Breastfeeding equipment refers to a breast pump kit and an ice pack, a breast milk collection and storage equipment, and a cooler set or bag.
Women taxpayers with children aged up to 2 years are eligible to claim this new relief once in every two years for breastfeeding equipment purchased for their own use.
New tax relief for fees paid to child care centres and kindergartens
A new tax relief up to RM1,000 is provided to individual taxpayers who enrol their children aged up to 6 years, in child care centres registered with the Director General of Social Welfare under the Child Care Centre Act 1984 or kindergartens registered under the Education Act 1996.
This relief can only be claimed by one parent of the children.
Contact us
For enquiries or any further information included in this Tax Alert, please get in touch with your local Grant Thornton Malaysia team in our offices.