Friday, June 28, 2013

Tax Planning for People in Employment

From the book "100 ways to save tax in Malaysia" by Richard Thornton

  • Let your employer provide your car
  • Ask your employer to make you an interest-free loan
  • Let your employer provide your living accommodation rent-free
  • Get away from it all at your employer's expense - ask him for a leave passage perk.
  • Ask for an entertainment allowance
  • Plan to receive a tax-free gratuity
  • Paid as an inducement to join a new employer - is it tax free?
  • Retrenched? - a compensation sum might console
  • Have split employment if you work overseas a lot.
  • Make the most of EPF or approved scheme deductions